Another Legaltech is in the books, and this year for me was more about getting up-to-speed with existing technology partners and service providers rather than taking in any new concept or must-see product launch.
The E-Discovery market continues to commoditize. Speaking with hosting partners, there is self-awareness that simply offering Relativity is no longer a viable business model (especially given the RelativityOne SaaS model). If a company cannot differentiate and provide incremental value (workflow enhancements, a spectrum of services beyond processing and hosting, stitching together a compelling set of tools, etc.), they will become obsolete.
Information Governance continues to be a strategic initiative necessitating attention from law firms. In addition to its new iManage 10 release, iManage announced the release of iManage Security Policy Manager to secure data across a number of locations as well as iManage Threat Manager for proactive threat detection and reporting. Mattern & Associates has increasingly seen firms tackling their IG needs and the move to more electronic records management in several recent engagements.
Workflow Technology Adoption is helping firms do more with less. Service providers tout the use of technology to streamline the document management process. BigHand is one example of a tool that helps firms with customized workflows for on-site production services and document creation. The ROI is measured in labor hours saved via more efficient processes and the ability to centralize services in a single firm location.
E-Discovery, Information Governance, and improved back and middle-office workflows were three areas that were a focus for my trip to Legaltech. There were also number of insights into cybersecurity and the use of data analytics readily available at the show, but I will leave those for another time as they were not on my current plate of needs.