A company's legal department is often considered a cost center, and in businesses that have higher risk of litigation, legal costs can put the entire business at risk. For this reason, it is important for legal and finance to be aligned, particularly when it comes to budgetary considerations, according to executives at new law provider Axiom.
For Axiom, this alliance between legal and finance is not just a matter of convenience but a strategic imperative for safeguarding the company's interests in an ever-evolving regulatory landscape. The cornerstone of this collaboration lies in the shared goal of mitigating risks and supporting business initiatives.
Axiom general counsel Ashlin Quirk and CFO Eric Bouchard agree that the synergy between legal and finance departments not only mitigates risks, but also fosters a culture of accountability and innovation within an organization, positioning it for long-term success in a constantly changing marketplace.
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
