We’ve long beat the drum for technology’s ability to increase efficiency and reduce costs for both corporations and firms. The July/August edition of Law Practice magazine follows the legal industry’s rhythm with its article “Transforming a Law Practice with Technology.”
Author Nick Gaffney highlights a few leading technology tools and the practices that use them. Gaffney begins by reminding counsel how far the practice of law has come: from legal pads to the cloud. Much of clients’ documents contain critical, decision-influencing metadata that can be difficult for counsel to access without the use of technology. Advancing technology again plays an essential role for firms.
Legal platforms can analyze data, present data in a way that inspires confidence and make data more accessible to lawyers. For example, Chicago-based Seyfarth Shaw LLP uses a search, analytics and visualization platform San Francisco-based Ravel Law. Andy Jurcyk, chief information officer for Seyfarth Shaw, stated:
“It’s all about data today. Who has the most data, who’s doing the most with it and whose analytics are best.”
Another platform that Gaffney features is LLM, Inc.’s own Liquid Lit Manager. For Josh Rievman, a partner at Cohen Tauber Spievack & Wagner PC in New York, the platforms specialized features like BinderBuilder, which compiles documents in a single PDF, and Timelines, which tracks logistical activity and associates people, organizations and events chronologically, are most essential. Regard the Liquid Lit Manager platform, Rievman stated:
“These allowed us to more efficiently and more expertly prepare for depositions and trial, and this is what counts for litigators.”
While there are a number of different platforms on the market, Gaffney finds that the strongest technologies exhibit common qualities, such as secure platforms, user-friendly interfaces, openness to receive lawyer feedback and a pricing structure that encourages usage.
Gaffney concludes that it is through technology that firms and lawyers will be able to transform their practices and keep pace with the rapidly changing digital world.
For more details on legal technology and its role in the legal industry, don’t miss our recent white paper, “The Lawyer’s Guide to Legal Technology in 2017”. Or take a walk down memory lane and check out our legal technology timeline infographic.