FG Connect and Lexis Nexis Market Research Project
Lexis Nexis
"The insights revealed opportunities to share industry wide patterns and best practices, identifying areas where organisations could enhance their own practices."
Overview
FG Connect partnered with Lexis Nexis to conduct an in-depth market research project aimed at establishing industry benchmarks for legal technology processes and performance. The initiative sought to equip Lexis Nexis with insights to enhance its offerings and support clients in evaluating their regulatory compliance maturity.
Project Objectives
The project aimed to identify best practices within the industry for a benchmarking report that is to be developed. Facilitating the sharing of key performance indicators, including compliance matters. Additionally, it focused on aligning risk practices across institutions, helping organisations understand how their risk appetite compared to peers.
Methodology
For this project we ran a roundtable in Paris and participants expressed interest in including the key topics they would like to see in the benchmarking report.
Findings
There is a strong appetite for benchmarking reports among the participants. Key takeaways from the round table highlighted that there is a requirement for institutions to be able to compare their performance with industry peers. The insights revealed opportunities to share industry wide patterns and best practices, identifying areas where organisations could enhance their own practices.
