The document discusses the integration of legal technology and legal services. It notes that advances in technology are creating new efficiencies but also a gap between legal and technology professionals. Both lawyers and technology teams want different things from systems - lawyers prioritize costs and strategies while IT focuses on storage, security and maintenance. There is a need for better alignment between these perspectives to implement new technology solutions effectively.
The document discusses trends in the legal industry towards increased efficiency and use of technology. It highlights how new technologies like cloud computing and legal project management can help law firms cut costs while meeting client demands for more predictable fees. The document also notes challenges around aligning different stakeholders within law firms and between law firms and corporate legal departments when adopting new technologies.
The document discusses the integration of legal technology and legal services. It notes that technological advancements are enabling new efficiencies in the legal industry through practices like legal project management, alternative fee arrangements, and cloud computing. The document also examines how law firms can take a structured approach to engaging cloud providers to meet client needs while ensuring security.
A study of challenges and opportunities facing the business of small law firms in billing realization.
- More than 80% of small law firms surveyed say they experience past due client accounts at least some of the time. More than half (52.9%) say between 10% and 39% of their total client base is typically past due.
- A majority of law firms surveyed (71.2%) report providing discounts or writing off legal work even before invoicing clients. Interestingly, an analysis comparing law firms that “always” and “never” provide discounts appears to show a correlation to past due accounts: Those law firms that reported never providing discounts on legal fees also reported substantially lower percentages of clients who allowed legal invoices to become past due.
A LexisNexis survey of legal departments found a renewed sense of optimism among U.S.-based corporate legal departments. More than 70% of survey respondents, which were mostly comprised of corporate attorneys, said this year has been better as compared to the previous year. The survey also found that corporate legal departments are planning to bring more work in-house, that compliance and operational efficiency are the top challenges, and expect legal budgets and staffing to remain flat.
This study found that file sharing is increasingly important in law firm collaboration and while those firms are keenly aware of the consequences of IT security risks, unencrypted email – reinforced with a statement of confidentiality – remains the primary mechanism for sharing files.
Fast Future - The Future of Law Firms - ILTA Legal Technology Future Horizon...Rohit Talwar
The document summarizes key findings from a report on the future of law firms and the role of information technology. It finds that:
1) IT will transform every aspect of law firm operations and client services over the next decade, with a focus on enhancing client relationships, lawyer productivity, re-engineering processes, and driving innovation.
2) Emerging technologies like artificial intelligence, cloud computing, and mobile solutions will be widely adopted and change how legal work gets done.
3) For law firms to survive and grow, they will need to embrace IT and innovation, seeing the CIO's role evolve from managing systems to driving strategic change. Firms that do not invest in IT risk falling behind clients' and competitors
Compliance issues surrounding employee travel and expense management include the need for transparency, control, and auditability to prove adherence to policies. Industries like financial services and pharmaceuticals face specific regulations requiring oversight and reporting of expenses. Companies can improve controls and compliance by automating expense processes using solutions that enforce policies, facilitate exception reporting, and serve as the system of record for audits. On-demand travel and expense management providers can help achieve these goals through standardized core functionality with customization of business rules.
The document discusses FulcrumWay, a provider of governance, risk, and compliance (GRC) expertise, solutions, and software services. It outlines FulcrumWay's offerings including risk management consulting, packaged Oracle-based GRC solutions, and software services to help organizations assess and monitor risks and controls. It also provides examples of FulcrumWay clients and events.
The document discusses trends in the legal industry towards increased efficiency and use of technology. It highlights how new technologies like cloud computing and legal project management can help law firms cut costs while meeting client demands for more predictable fees. The document also notes challenges around aligning different stakeholders within law firms and between law firms and corporate legal departments when adopting new technologies.
The document discusses the integration of legal technology and legal services. It notes that technological advancements are enabling new efficiencies in the legal industry through practices like legal project management, alternative fee arrangements, and cloud computing. The document also examines how law firms can take a structured approach to engaging cloud providers to meet client needs while ensuring security.
A study of challenges and opportunities facing the business of small law firms in billing realization.
- More than 80% of small law firms surveyed say they experience past due client accounts at least some of the time. More than half (52.9%) say between 10% and 39% of their total client base is typically past due.
- A majority of law firms surveyed (71.2%) report providing discounts or writing off legal work even before invoicing clients. Interestingly, an analysis comparing law firms that “always” and “never” provide discounts appears to show a correlation to past due accounts: Those law firms that reported never providing discounts on legal fees also reported substantially lower percentages of clients who allowed legal invoices to become past due.
A LexisNexis survey of legal departments found a renewed sense of optimism among U.S.-based corporate legal departments. More than 70% of survey respondents, which were mostly comprised of corporate attorneys, said this year has been better as compared to the previous year. The survey also found that corporate legal departments are planning to bring more work in-house, that compliance and operational efficiency are the top challenges, and expect legal budgets and staffing to remain flat.
This study found that file sharing is increasingly important in law firm collaboration and while those firms are keenly aware of the consequences of IT security risks, unencrypted email – reinforced with a statement of confidentiality – remains the primary mechanism for sharing files.
Fast Future - The Future of Law Firms - ILTA Legal Technology Future Horizon...Rohit Talwar
The document summarizes key findings from a report on the future of law firms and the role of information technology. It finds that:
1) IT will transform every aspect of law firm operations and client services over the next decade, with a focus on enhancing client relationships, lawyer productivity, re-engineering processes, and driving innovation.
2) Emerging technologies like artificial intelligence, cloud computing, and mobile solutions will be widely adopted and change how legal work gets done.
3) For law firms to survive and grow, they will need to embrace IT and innovation, seeing the CIO's role evolve from managing systems to driving strategic change. Firms that do not invest in IT risk falling behind clients' and competitors
Compliance issues surrounding employee travel and expense management include the need for transparency, control, and auditability to prove adherence to policies. Industries like financial services and pharmaceuticals face specific regulations requiring oversight and reporting of expenses. Companies can improve controls and compliance by automating expense processes using solutions that enforce policies, facilitate exception reporting, and serve as the system of record for audits. On-demand travel and expense management providers can help achieve these goals through standardized core functionality with customization of business rules.
The document discusses FulcrumWay, a provider of governance, risk, and compliance (GRC) expertise, solutions, and software services. It outlines FulcrumWay's offerings including risk management consulting, packaged Oracle-based GRC solutions, and software services to help organizations assess and monitor risks and controls. It also provides examples of FulcrumWay clients and events.
Ey top-10-risks-in-telecommunications-2014CMR WORLD TECH
1. As telecommunications companies pursue new growth opportunities, they must adapt their business models and roles in evolving industry ecosystems. This involves positioning themselves differently in value chains such as cloud services, and sharing customer ownership with disruptive players like over-the-top providers.
2. Regulatory attitudes towards consolidation and cross-sector relationships are in flux as opportunities open up in areas like cloud and digital services. Operators must help shape new regulatory views to capitalize on these opportunities.
3. Maintaining consumer trust is challenging as data protection guidelines are revisited. Operators must address privacy and security imperatives to differentiate themselves and allay customer concerns about how their data is used.
The Best Cloud Apps for Ambitious Law Firms
When advising law firms, PwC recommends five cloud-based solutions for managing cases, finances, and payroll. Four of these solutions are best in class for small and medium-size businesses, and one is specific to the legal industry.
Why does PwC recommend these apps? This software is designed to enable PwC’s approach to digital technology and solutions. Using a core set of apps, laws firms can drive innovation, extract value from new and existing technology, and best apply people and processes to improve the business.
Join Joshua Lenon, Clio’s Lawyer in Residence, and T.C. Whittaker, PwC’s Law Firm Solution Leader, as they look at the top recommended apps for law firms.
In this one-hour webinar, you’ll learn:
PwC's software recommendations for law firms
The strengths behind each software
How to combine PwC's recommended tech stack for deep insight into your firm's operations
Duration: 60 minutes
https://landing.clio.com/best-cloud-apps-for-law-firms-recording.html
This document discusses the importance of proper records management in law enforcement. It notes that while technology has improved information sharing, it has also increased scrutiny of police data and the potential for manipulated crime statistics. The document advocates for internal checks and well-trained records staff to ensure accurate data collection and reporting. It provides recommendations for improving report quality, implementing sound records management practices, and maximizing available technology. Leadership, training, and participative management are seen as key to the effective operation of a records unit.
Spotlight on Technology: Steering Clear of the IT Danger ZonesL.E.K. Consulting
This document discusses key trends in the IT services market and how vendors can succeed. It finds that companies are increasingly outsourcing IT and migrating to cloud-based services. This favors specialized vendors over generalists. Customers also prefer specialists that can deliver solutions tailored to their industries. To thrive, vendors must focus on differentiated services, improve cloud delivery, and understand customers' business metrics and satisfaction drivers. Those adapting to offer specialized, industry-focused solutions will find the greatest opportunities.
Commercial banking outlook: Views from bankers, disruptors and innovatorsMichael Horrocks
Commercial banking outlook: Views from bankers, disruptors and innovators. A five forces analysis on the banking industry and the top challenges facing commercial banking executives.
C Level Application Conference (Objective review of Vendors)Mark Belec
This two-day conference focused on helping senior leasing industry professionals combat margin compression through technology and business process optimization. Attendees would learn how applications can help control costs, make better decisions, and comply with regulations. Speakers from lessors, software companies, and consulting firms would discuss trends in leasing IT strategies, assessing inefficiencies, functionality demonstrations, and managing successful implementations. The conference aimed to provide insights into using existing tools and applications to manage risk and maintain a competitive advantage.
Operational performance management software aims to help businesses identify the root causes of problems by providing insights, not just metrics, from a variety of data sources. It allows companies to quickly correlate metrics with strategic goals in order to immediately address issues. For example, one company used this type of software to uncover that a promotion with high subscriber churn was due to customers not activating an included DSL service. The software market for performance management is growing, with spending expected to top $22 billion in 2005, as companies seek to improve operations and effectiveness, not just efficiency.
This document discusses several key challenges facing law firms in India's changing legal market. It summarizes 5 trends in the Indian legal market: 1) the rise of alternative legal service providers, 2) alternative fee arrangements requiring financial creativity beyond simple discounts, 3) the need for lawyers to consider project management as part of their work, 4) opportunities for law firms in linked and open data through contributing to online databases, and 5) the importance of cybersecurity as law firms transition to paperless offices. The document concludes that while law firms have responded reactively to client demands, proactive operational changes are needed to effectively meet changed client expectations.
The New World of As a Service - Infographicaccenture
The market is moving toward an As-a-Service delivery model that provides plug-in, scalable, consumption-based business services that deliver the business outcomes that every organization demands—increased revenue or decreased costs.
Outsourcing Governance: What’s Buzzing and What's Missing?- SirionLabs WebinarSirionLabs
Webinar Slides - Outsourcing Governance: What's Buzzing and What’s Missing?
Findings from our 2016 Outsourcing Governance Maturity Study
On December 6th 2016, SirionLabs conducted this webinar featuring John Dreyer, President and CEO, The Shelby Group and Claude Marais, Co-founder & President, SirionLabs. The webinar included an insightful discussion by our experts on the role of effective governance in outsourcing success and featured key findings from our 2016 outsourcing governance maturity study ‘Overcoming the Value Gap in Outsourcing Engagements’.
Visit www.sirionlabs.com for more.
Learn why accountants should leverage the power of a Payroll Business and how generational perspectives can influence your approach to business growth.
Designing Enhanced Supervision for the Evolving Wealth Management Ecosystemaccenture
Converging and rapidly evolving industry trends are creating a new wealth management environment demanding Wealth Managers redefine supervisory governance to best support the firm’s growth strategies while balancing strong risk management. In this new Accenture Finance & Risk presentation we explore the evolving wealth management trends and challenges and outline four key business supervision design questions to support sustainable, long-term growth.
EMA research consistently tracks IT service management (ITSM) as a hub of digital transformation and change.
What’s new are the ways artificial intelligence (AI), automation, and analytics are redefining ITSM’s role in
business innovation, services, and organizational reinvention. Although potentially game-changing, these
advances are not challenge-free. Technological complexity, functional understanding, resource allocation, and
simple resistance to change all exert a drag on adoption
The future of regulation: Principles for regulating emerging technologiesDeloitte United States
As emerging technologies drive new business and service models, governments must rapidly create, modify, and enforce regulations. The preeminent issue is how to protect citizens and ensure fair markets while letting innovation and businesses flourish. https://deloi.tt/2NaeMRD
Articles published as sponsored content in the Risk & Compliance Journal from The Wall Street Journal from August 2017 to August 2018. https://deloi.tt/2CMG6lI
[SirionLabs Webinar] Faster Contracts, Better Contracts: Eliminating the Fric...SirionLabs
Watch this webinar to discover the friction points across the contracting lifecycle and the role of CLM technology in driving business agility by addressing these friction points. The webinar features experts from Morgan Stanley, Vodafone, World Commerce & Contracting, and SirionLabs.
You can watch the webinar recording on this page
https://www.sirionlabs.com/faster-contracts-better-contracts-eliminating-the-friction-points-in-contracting/
The document discusses the integration of legal technology and legal services. It notes that disruptive technologies are driving lawyers to rethink their working practices and processes. It also covers trends in the legal industry toward increased efficiency, the use of new technology like cloud computing, and the need for a structured approach to engaging cloud providers.
SirionLabs Webinar Featuring Forrester - Plugging Value Leakage in IT Outsour...SirionLabs
Slides from SirionLabs' webinar 'Plugging Value Leakage in IT Outsourcing Engagements' featuring Forrester VP and Principal Analyst, Andrew Bartels.
CIOs and their IT departments often struggle to achieve the full value in strategic IT Outsourcing engagements due to ineffective governance and lack of performance alignment between the enterprise and its suppliers.
This webinar explains:
- The growing importance of service providers to firms (both for IT and for business overall)
- Why the traditional tools and technologies are not adequate to manage today’s complex supplier management challenges
- How CIOs can take the lead in embracing specialized software tools to enable not just the IT organization but the entire enterprise to get the most value from their strategic services suppliers
This document provides an overview and feasibility study for outsourcing some functions of a law firm. It discusses major trends in the legal industry that are pushing firms to outsource, such as rising costs and client demands. The document outlines a 5-phase process for assessing which functions to outsource including research, design, testing, implementation and optimization. It analyzes the benefits of outsourcing functions like business development, marketing and back office work. Specifically, outsourcing could reduce costs by 30-80% while improving processes, access to talent and risk management.
Ey top-10-risks-in-telecommunications-2014CMR WORLD TECH
1. As telecommunications companies pursue new growth opportunities, they must adapt their business models and roles in evolving industry ecosystems. This involves positioning themselves differently in value chains such as cloud services, and sharing customer ownership with disruptive players like over-the-top providers.
2. Regulatory attitudes towards consolidation and cross-sector relationships are in flux as opportunities open up in areas like cloud and digital services. Operators must help shape new regulatory views to capitalize on these opportunities.
3. Maintaining consumer trust is challenging as data protection guidelines are revisited. Operators must address privacy and security imperatives to differentiate themselves and allay customer concerns about how their data is used.
The Best Cloud Apps for Ambitious Law Firms
When advising law firms, PwC recommends five cloud-based solutions for managing cases, finances, and payroll. Four of these solutions are best in class for small and medium-size businesses, and one is specific to the legal industry.
Why does PwC recommend these apps? This software is designed to enable PwC’s approach to digital technology and solutions. Using a core set of apps, laws firms can drive innovation, extract value from new and existing technology, and best apply people and processes to improve the business.
Join Joshua Lenon, Clio’s Lawyer in Residence, and T.C. Whittaker, PwC’s Law Firm Solution Leader, as they look at the top recommended apps for law firms.
In this one-hour webinar, you’ll learn:
PwC's software recommendations for law firms
The strengths behind each software
How to combine PwC's recommended tech stack for deep insight into your firm's operations
Duration: 60 minutes
https://landing.clio.com/best-cloud-apps-for-law-firms-recording.html
This document discusses the importance of proper records management in law enforcement. It notes that while technology has improved information sharing, it has also increased scrutiny of police data and the potential for manipulated crime statistics. The document advocates for internal checks and well-trained records staff to ensure accurate data collection and reporting. It provides recommendations for improving report quality, implementing sound records management practices, and maximizing available technology. Leadership, training, and participative management are seen as key to the effective operation of a records unit.
Spotlight on Technology: Steering Clear of the IT Danger ZonesL.E.K. Consulting
This document discusses key trends in the IT services market and how vendors can succeed. It finds that companies are increasingly outsourcing IT and migrating to cloud-based services. This favors specialized vendors over generalists. Customers also prefer specialists that can deliver solutions tailored to their industries. To thrive, vendors must focus on differentiated services, improve cloud delivery, and understand customers' business metrics and satisfaction drivers. Those adapting to offer specialized, industry-focused solutions will find the greatest opportunities.
Commercial banking outlook: Views from bankers, disruptors and innovatorsMichael Horrocks
Commercial banking outlook: Views from bankers, disruptors and innovators. A five forces analysis on the banking industry and the top challenges facing commercial banking executives.
C Level Application Conference (Objective review of Vendors)Mark Belec
This two-day conference focused on helping senior leasing industry professionals combat margin compression through technology and business process optimization. Attendees would learn how applications can help control costs, make better decisions, and comply with regulations. Speakers from lessors, software companies, and consulting firms would discuss trends in leasing IT strategies, assessing inefficiencies, functionality demonstrations, and managing successful implementations. The conference aimed to provide insights into using existing tools and applications to manage risk and maintain a competitive advantage.
Operational performance management software aims to help businesses identify the root causes of problems by providing insights, not just metrics, from a variety of data sources. It allows companies to quickly correlate metrics with strategic goals in order to immediately address issues. For example, one company used this type of software to uncover that a promotion with high subscriber churn was due to customers not activating an included DSL service. The software market for performance management is growing, with spending expected to top $22 billion in 2005, as companies seek to improve operations and effectiveness, not just efficiency.
This document discusses several key challenges facing law firms in India's changing legal market. It summarizes 5 trends in the Indian legal market: 1) the rise of alternative legal service providers, 2) alternative fee arrangements requiring financial creativity beyond simple discounts, 3) the need for lawyers to consider project management as part of their work, 4) opportunities for law firms in linked and open data through contributing to online databases, and 5) the importance of cybersecurity as law firms transition to paperless offices. The document concludes that while law firms have responded reactively to client demands, proactive operational changes are needed to effectively meet changed client expectations.
The New World of As a Service - Infographicaccenture
The market is moving toward an As-a-Service delivery model that provides plug-in, scalable, consumption-based business services that deliver the business outcomes that every organization demands—increased revenue or decreased costs.
Outsourcing Governance: What’s Buzzing and What's Missing?- SirionLabs WebinarSirionLabs
Webinar Slides - Outsourcing Governance: What's Buzzing and What’s Missing?
Findings from our 2016 Outsourcing Governance Maturity Study
On December 6th 2016, SirionLabs conducted this webinar featuring John Dreyer, President and CEO, The Shelby Group and Claude Marais, Co-founder & President, SirionLabs. The webinar included an insightful discussion by our experts on the role of effective governance in outsourcing success and featured key findings from our 2016 outsourcing governance maturity study ‘Overcoming the Value Gap in Outsourcing Engagements’.
Visit www.sirionlabs.com for more.
Learn why accountants should leverage the power of a Payroll Business and how generational perspectives can influence your approach to business growth.
Designing Enhanced Supervision for the Evolving Wealth Management Ecosystemaccenture
Converging and rapidly evolving industry trends are creating a new wealth management environment demanding Wealth Managers redefine supervisory governance to best support the firm’s growth strategies while balancing strong risk management. In this new Accenture Finance & Risk presentation we explore the evolving wealth management trends and challenges and outline four key business supervision design questions to support sustainable, long-term growth.
EMA research consistently tracks IT service management (ITSM) as a hub of digital transformation and change.
What’s new are the ways artificial intelligence (AI), automation, and analytics are redefining ITSM’s role in
business innovation, services, and organizational reinvention. Although potentially game-changing, these
advances are not challenge-free. Technological complexity, functional understanding, resource allocation, and
simple resistance to change all exert a drag on adoption
The future of regulation: Principles for regulating emerging technologiesDeloitte United States
As emerging technologies drive new business and service models, governments must rapidly create, modify, and enforce regulations. The preeminent issue is how to protect citizens and ensure fair markets while letting innovation and businesses flourish. https://deloi.tt/2NaeMRD
Articles published as sponsored content in the Risk & Compliance Journal from The Wall Street Journal from August 2017 to August 2018. https://deloi.tt/2CMG6lI
[SirionLabs Webinar] Faster Contracts, Better Contracts: Eliminating the Fric...SirionLabs
Watch this webinar to discover the friction points across the contracting lifecycle and the role of CLM technology in driving business agility by addressing these friction points. The webinar features experts from Morgan Stanley, Vodafone, World Commerce & Contracting, and SirionLabs.
You can watch the webinar recording on this page
https://www.sirionlabs.com/faster-contracts-better-contracts-eliminating-the-friction-points-in-contracting/
The document discusses the integration of legal technology and legal services. It notes that disruptive technologies are driving lawyers to rethink their working practices and processes. It also covers trends in the legal industry toward increased efficiency, the use of new technology like cloud computing, and the need for a structured approach to engaging cloud providers.
SirionLabs Webinar Featuring Forrester - Plugging Value Leakage in IT Outsour...SirionLabs
Slides from SirionLabs' webinar 'Plugging Value Leakage in IT Outsourcing Engagements' featuring Forrester VP and Principal Analyst, Andrew Bartels.
CIOs and their IT departments often struggle to achieve the full value in strategic IT Outsourcing engagements due to ineffective governance and lack of performance alignment between the enterprise and its suppliers.
This webinar explains:
- The growing importance of service providers to firms (both for IT and for business overall)
- Why the traditional tools and technologies are not adequate to manage today’s complex supplier management challenges
- How CIOs can take the lead in embracing specialized software tools to enable not just the IT organization but the entire enterprise to get the most value from their strategic services suppliers
This document provides an overview and feasibility study for outsourcing some functions of a law firm. It discusses major trends in the legal industry that are pushing firms to outsource, such as rising costs and client demands. The document outlines a 5-phase process for assessing which functions to outsource including research, design, testing, implementation and optimization. It analyzes the benefits of outsourcing functions like business development, marketing and back office work. Specifically, outsourcing could reduce costs by 30-80% while improving processes, access to talent and risk management.
Legal Tech Innovators Showcase @ ABA TECHSHOWEvolve Law
Legal tech innovators were showcased at an ABA conference. The document lists various companies, speakers, and hashtags related to the event. It also includes a pitch deck for Page Vault describing their product and market opportunity capturing and storing web pages. Finally, it discusses a company called PeaceTones and how partnering with the world can help spread the rule of law through technology.
Semantic Applications for Financial ServicesDavidSNewman
This document discusses how semantic technology can provide benefits for financial services organizations. It begins by outlining common IT challenges at financial firms, such as incompatible data definitions and fragmented data. Semantic technology is presented as a way to standardize data meaning, capture business knowledge, and foster data integration. Specific use cases are described, such as creating a 360-degree customer view, enabling online financial products with RDFa, fraud detection using ontologies and reasoning, and credit risk management. The document concludes by discussing implications for enterprise architecture, such as ontology governance and business semantics management.
This document introduces KEA, a legal operations platform that aims to improve productivity for legal teams. It does this through a suite of tools for matter and task management, collaboration, reporting and analytics. The platform promises to save lawyers significant time by streamlining workflows and providing real-time visibility into legal matters. KEA has seen early success, gaining over 100 users and $30,000 in recurring revenue in its first 5 months. It is now seeking funding to further develop its technology and scale sales and marketing efforts.
Creating a Business Case for Global Payroll - APA Fall ForumCatriona Keevans
Mark Graham, Executive Director at Immedis, spoke at the 2017 Fall Forum. His presentation was focused around Creating a Business Case for Global Payroll
The document discusses key components of law firm transformation - processes, technology, and people. It summarizes a panel discussion on these topics. Regarding processes, it discusses how outsourcing low-value repetitive work like non-disclosure agreements can reduce costs while focusing lawyers on higher-value work. For technology, it describes how a law firm uses systems to improve processes, costing, and quality control. Finally, it notes that while technology can improve efficiency, organizational culture and reward structures that prioritize billable hours can inhibit change unless focused on client benefits.
The document discusses key components of law firm transformation - processes, technology, and people. It summarizes a panel discussion on these topics. Regarding processes, it discusses how outsourcing low-value repetitive work like non-disclosure agreements can reduce costs while focusing lawyers on higher value work. For technology, it describes how a law firm uses systems to improve processes, costing, and quality control. Finally, it notes that while technology can improve efficiency, organizational culture and reward structures that prioritize billable hours can inhibit change. Success requires putting the best people on transformation and focusing on benefits to clients.
Many businesses consider their telecom system a utility—an asset base that is just there and hardly worth thinking about. Yet that very nonchalance is a symptom of just how essential communications systems are. Ask most organizations what they would do without phone and Internet access, and the answer would likely be that their business would come to a screeching halt. The communications portfolio has become that important to businesses today—and, ironically, all too often taken for granted.
Frokostseminar "Digitalisering for kunnskapsbedrifter" 2018.06.14 - Peter Van...Yannick Hougaard
The document discusses strategies for law firms to adopt digital innovation. It poses questions on how firms can get their strategy focused on digital innovation, and how to structure the organization to support this innovation strategy. It recommends focusing on a customer-focused strategy, an agile IT platform, and organizational agility. It also discusses challenges law firms face in investing in new concepts from operational priorities and resistance to change.
February 2009 Working the IT/RIM Relationship Presentation by Helen StreckJohn Wang
This document discusses the importance of an effective working relationship between Records and Information Management (RIM) and Information Technology (IT) professionals within an organization. It notes that both groups need to work together and bring each other's perspectives to the table when designing and implementing systems that handle electronic records and information. The document outlines key areas where RIM and IT should collaborate, including developing policies and standards, designing records management systems, implementing technologies, and training staff members. It emphasizes that both groups must see each other as partners and champions for their mutual success in managing electronic information effectively.
Logicalis disruptive innovation for legal services brochureStuart Lewis
Logicalis UK Legal Services vertical brochure which, outlines how we help law firms achieve disruptive innovation by delivering business outcome focused strategies for:
- Business Intelligence and Analytics
- Workspace Transformation and Collaboration
- Agile DC and Cloud
CSUN 2011: How to Eat an Elephant: Tackling Web Accessibility in a Large Corp...Elle Waters
Wednesday, March 16, 2011, San Diego
Humana's Accessibility team relays the challenges they faced instituting web accessibility across a Fortune 100 company. The team will share successes and lessons learned.
Lisa Barnett
Humana
Wes Dillon
Deque Systems
Preety Kumar
Deque Systems, Inc
Sharron Rush
Knowbility, Inc.
Elle Waters
Humana
This document discusses the value of enterprise content management (ECM) in addressing organizational challenges. It outlines how ECM can help optimize business processes, improve compliance, and deliver information on demand. The document also highlights analyst research showing that strategic ECM users are more profitable and effective than peers without ECM.
The document discusses how a company called LGM Wealth Management was able to greatly reduce their time to revenue and cost to serve through the use of business mashups. It describes how insurance case management could be improved by capturing both structured and unstructured knowledge in a single shared space. Finally, it proposes how an insurance company could develop configurable insurance policies by defining products as a suite of modular components that customers can customize.
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ILTA 2011 Integration Of Legal Technology
1. Integration of Legal Technology and Legal Services George Rudoy , CEO, Integrated Legal Technology, LLC Owen O’Connor , Managing Director, Cernam Online Evidence
2. Disruptive Technologies “ Call me radical, but it seems to me that if we can envisage a day when the average desk-top machine has more processing power than all of humanity put together, then it might be time for lawyers to rethink some of their working practices and processes. This is not Google and hand-held e-mail plus a few bells and whistles. This is an unprecedented revolution in the power of the tools available to man.” Richard Susskind, The End of Lawyers? (2008), 64.
5. “ The overall marketplace for legal services is fracturing. It's unbundling and specialists are emerging.” “ Firms have to decide where they want to compete and how, and what fits in their business model” “ Trends come and go all the time. This one I think is here to stay.” “ General Counsel to Cut Legal Spending Up to 25%: Catastrophe or Opportunity?” “ The GC.…shifted his legal spending from 50 percent internal and 50 percent external to 70-30, thus reducing outside spending by 40 percent.” Sources: ABA Journal; Legal Intelligencer; AmLaw Daily; HBR 2010 Law Department Survey
6.
7.
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9. Practice Dynamics Source: HBR Peer Monitor Index Q4 2010 Executive Report Bankruptcy DEMAND GROWTH BY PRACTICE: ALL SEGMENTS Growth Rate (%) Litigation M&A L&E General Corp Tax Capital Markets Real Estate Period over Period Growth 20 15 10 5 0 -5 -10 -15 -20 IP-Lit Proportion of Overall Market 2009 v 2008 2010 v 2009 Q4 ‘10 v Q4 ‘09
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11. New Practice Models New Practice Models Evolving Market Forces Disruptive Technologies
13. Firms Are Creating Strategic Partnerships That Meet the Diverse Needs of Their Clients Information management, litigation and discovery needs often become more diverse as client and case size increases Many “Do it Yourself” and Outsourced Solutions Options Are Available Based on Clients’ Needs
14. 70% of U.S. attorneys in private practice work in law firms with ten or fewer attorneys Ten or less 2000 statistics from ABA: See , http://www.hg.org/marketing-us-market.html Cloud and Software as a Service (SaaS) technology brings robust, modern technology all lawyers and clients—not just the big ones Cloud Technologies
23. Who are the stakeholders? IT COMPLIANCE COUNSEL LEGAL RECORDS MANAGEMENT PROJECT MANAGER
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25. Alignment Issues Fit Effort Value Maintenance Systems Dept. Business Divergent perspectives on implementing processes Legal/Outside Counsel Within technical infrastructure Within process landscape Within project scope/need Increases (new process) Increases/Decreases (process improvement) Increases (response to new burden) Within system portfolio Profit, efficiency, savings, etc. Reduced Risk Coordination, Burden ? ??
26. Who handles to intersection of law and technology – law firm perspective
27. Who handles to intersection of law and technology – corporate perspective
31. Integration of Legal Technology and Legal Services George Rudoy , CEO, Integrated Legal Technology, LLC P +1.347.208.2740 | F +1.718.247.5619 [email_address] http://www.linkedin.com/in/grudoy Owen O’Connor , Managing Director, Cernam Online Evidence
Editor's Notes
Law Firms Feel Pressure From New Breed of Competitors Says one consultant: 'The overall marketplace for legal services is fracturing. It's unbundling and specialists are emerging' Gina Passarella The Legal Intelligencer October 26, 2010 The legal industry is falling apart. Not in the sense pundits meant when they gave that diagnosis in 2008 as firms were hit with the harsh reality of the recession. Rather, the industry is moving away from a monolithic provider of legal services -- the law firm -- to a fragmented service platform where the competition isn't just a broadening array of law firms, but legal process outsourcers and other non-law firm legal service providers as well. "Law firms are really being circled by these things," consultancy Adam Smith Esq. partner Janet Stanton said. Firms have to decide where they want to compete and how, and what fits in their business model, she said. Not only are LPOs and other firms that are adapting their business models a source of increased competition for law firms, Edge International consultant Jordan Furlong said, but so too are clients who are increasingly bringing more work in-house. "The overall marketplace for legal services is fracturing," Furlong said. "It's unbundling and specialists are emerging. Legal work will go to the provider best designed for that particular work in terms of personnel systems and mindset." By "mindset," he means firms that focus on doing only the high-end, bet-the-company work and those that do more of the commodity work. "Law firms are just going to have to decide what kind of work they want to compete for," Furlong said. "Law firms can't be both the bet-the-company law firm and the commodity law firm. I don't think that's sustainable anymore." Both Furlong and Stanton said there will be a trend toward boutique firms on one end and large, global firms on the other with little in the middle. The pressures from LPOs are real, they said. Law departments simply have to find ways to get what they need done for less money and they are slowly starting to realize that the quality isn't lost when using an LPO, Furlong said. Both Furlong and Stanton pointed to the increased hiring by many LPOs of seasoned, high-quality attorneys to do this work. "I think this is permanent, which is rare," Furlong said. "Trends come and go all the time. This one I think is here to stay. I think it's driven more by clients than by lawyers, but mainly just by the marketplace." LPOs have been created in direct competition to law firms with a goal of serving law departments and others are looking to get law firms as clients. Sometimes clients hire the LPOs and other times law firms do. On the whole, it seems the bulk of LPOs are servicing law departments and are being hired directly by law departments or by law firms at the express direction of their clients. Stanton said she is increasingly seeing a move to master contracts in which law departments use a certain provider for all of a type of service and demand that their law firms hire that provider to do that work on their matters. Many LPOs began by offering e-discovery or document review services, and that is work that will never come back to the law firm, she said. "How many years ago did BMW stop making car radios?" she asked. "It's gone, it's not coming back." Firms can either find a way to provide those same services economically or they can give it up, she said. LPOs aren't going to stop there. Stanton pointed to depositions as just one other area LPOs might look to get into. A GNAT IN AN ELEPHANT'S EAR? Despite talk of change during the recession, there was a complaint from law firms that clients weren't all that interested in changing how business was done. Furlong said general counsel can be conservative themselves and hesitant to pull the trigger. But as market forces make LPOs a more attractive option economically for some matters and general counsel test the waters and realize this might be a realistic alternative, the shift will start to happen more and more, he said. But some general counsel aren't sold yet. Roy Hibberd, general counsel of Berwyn, Pa.-based Dollar Financial Corp., said his department looked into outsourcing a few years ago to have a company handle a number of similar contracts. After doing a pilot program, he said he thought the work was good but the nuances weren't being picked up. Hibberd ended up bringing in contract lawyers to do the work instead. In the last few years, however, Hibberd said it has been interesting to see the increase with which he has been pitched by outsourcing and offshoring companies. The pitch is often to cut out the law firm and have these companies do the work directly, he said. It's ultimately up to the general counsel whether to use the companies. It may make more sense, Hibberd said, for a pharmaceutical company with consistent, similar litigation, for example, to use outsourcing services than for his company. Not all law firm leaders, perhaps unsurprisingly, agree LPOs are a threat. "I wish LPOs nothing but the best, but they are a gnat in an elephant's ear when it comes to K&L Gates," the firm's chairman, Peter Kalis, said. There is more talk than action when it comes to LPOs, not only from the media, client community and LPOs themselves, but from major law firms whose overhead is "grotesquely swollen" because the bulk of their lawyers are in New York or London, he said. "If you, within your platform as a law firm, can localize a lot of back office services and more routine-type services for clients in low-cost venues, you can achieve the same sort of outcome without risking attorney-client privilege, without worrying about transporting certain IP across national lines ... and without having the long-distance management problems that always characterize those sorts of relationships," Kalis said. He said he finds it difficult to ever consider a company that does not provide the same attorney-client privilege guarantees as law firms a threat. And Kalis said he finds the idea that clients are competition "simpleminded." There is always an ebb and flow between overall workload passed in-house and to outside firms. What clients find valuable one day might become commoditized the next. That is nothing to fear, but rather an ongoing challenge for firms to reinvent their value proposition, he said. Kalis said his competition is other law firms -- law firms of all breadths, depths and geographic reaches depending on the type and scope of work at issue. What has changed over the last decade is the traditional relationship between specific companies and specific law firms, he said. Those relationships are being challenged by the value proposition of other law firms, creating fewer safe harbors for firms that are part of the old regime of relying on institutional client loyalty. "That development is great for law firms that are willing to continuously re-examine, repackage and re-articulate their value propositions," he said. NUMBERS TALK The LPOs are increasingly capitalizing on the void left by firms that haven't adapted their value proposition. David Perla, co-CEO of New York and Mumbai-based outsourcing company Pangea3, said 80 percent of his business continues to come from law departments. There is interest from younger partners at law firms who realize the market is changing and from firm management who want to be educated about outsourcing when clients ask about it. But Perla said he isn't sure whether law firms will make any major institutional changes in this regard. Pangea3 will see a few million dollars in business this year from a law firm that brought the company work the firm's client simply wouldn't pay for young associates to handle. Far and away, Perla said, the revenue and profit engine for his company is document review for litigation and government investigations. There is always a law firm working with Pangea3 on these matters, but the company is still most often hired by a law department. That is the one area where Perla said he could see law firms become more directly involved in the hiring. The second-biggest revenue driver is corporate services, including contract drafting, review and revision; and mergers and acquisitions due diligence, he said. There is no law firm middleman in that situation, Perla said. Pangea3 also handles intellectual property analysis, patent preparation, prosecution and IP asset management. The client mix there is much more diverse, with law firms using Pangea3 and not viewing the company as a threat, he said. The final component to Pangea3's business is risk management and compliance. That includes everything from managing committee minute books and SEC filings to business intelligence. Typically a company's chief compliance officer would hire Pangea3 for this work, he said. Perla said he always guesses the 80-20 split will shift, with more work coming from law firms, but it never does. Because law departments are picking it up so rapidly and law firms are relatively slower, he doesn't see that ratio shifting soon. There's also a regional aspect to the business. Going directly to a law department in Philadelphia or Pittsburgh is a tougher prospect than going to New York or San Francisco, Perla said, because there is a closer bond between Pennsylvania clients and law firms than in other markets. Though some are hesitant to embrace LPOs, numbers speak volumes. Perla said his company's slowest year in terms of growth was in 2009 when it grew 60 percent. Pangea3 just finished the first half of its fiscal year and had revenue greater than the full 12 months prior. He said the company is on track to grow 250 percent this fiscal year. Pangea3 wouldn't disclose its revenue, but media reports showed the company earned more than $8 million in 2008. 2010 Line of Sight
Study by Corporate Executive Board, quoted at numerous ACC presentations in 2009
We did a survey mid-2009 and it showed that a significant number of the chairs of the AmLaw 100 believe that the profession is changing dramatically. They do not believe we will go back to “business as usual” as the economy recovers. On top of that, there are potentially disruptive forces that could mean even more dramatic change facing lawyers – and we will talk about these in the next hour.
In our practice we are seeing firms invest in exclusive relationships that are positioned to meet the needs of all of their clients’ needs. The appropriate solution can change based on the needs of the client and/or case—i.e., cloud, Saas, completely outsourcing, and/or hybrid approaches.
The vast majority of attorneys in private practice (70%) work in a law firm with ten or fewer attorneys. A solo practice is the career and lifestyle choice of almost half (48%) of private legal practitioners. Only 14% of attorneys work in firms with more than 100 lawyers.
Saas (software-as-a-service) Wide Area Network enabled application aka “Hosted” or “Online” applications e.g., Google Apps, SalesForce.com, WebEx, GoogleMail, Hosted MS Exchange, InView, Compass Guardian Paas (platform-as-a-service) foundational elements to dev new apps e.g., Coghead, Google Application Engine Iaas (infrastructure-as-a-service) computational/storage infrastructure in a centralized, location-transparent service e.g., Amazon S3
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