The legal industry has long been viewed as a traditional and conservative sector, slow to embrace change and technological advancements. However, the pace of change is accelerating, and legal operations must keep up with the rapidly changing business demands and the need for greater agility. Legal departments must be equipped with the latest technology to support their digital transformation initiatives in today’s digital age.
The siloed nature of legal operations is no longer acceptable to business leaders who demand a more integrated approach to legal operations. Legal teams must embrace change and use technology to support the business better. The adoption of legal technology is critical to the successful transformation of in-house legal operations.
Gartner’s recent publication on the challenges facing legal teams has sparked significant interest among legal operations leaders. Managing increased workloads without additional headcount has become a pressing issue in a world where modern businesses demand more from legal departments. With the pressure building for years, legal ops leaders are turning to software to meet the needs of the ever-evolving business landscape.
The report delves into the changing landscape of legal intake and how legal teams are adapting to address the current market’s challenges. Furthermore, it offers valuable guidance on what organizations can do to tackle these issues and remain competitive in the fast-paced business environment.
Gartner’s latest report redefines the four crucial capabilities of legal operations technology to accurately reflect the current market state. These capabilities include Intake, Triage, and Service Management, Workflow and Automation, External Matter Management, as well as E-Billing and Spend Management.
1. Intake, Triage, and Service Management – to ensure streamlined and efficient legal processes right from the start.
2. Workflow and Automation – to enhance productivity and minimize manual labor.
3. External Matter Management – to manage external legal support and strengthen relationships with legal counsel.
4. E-Billing and Spend Management – to ensure efficient financial management of legal operations while keeping a check on expenses.
This insightful and comprehensive report provides a holistic view of the current legal technology landscape, equipping legal professionals with the tools they need to thrive in today’s fast-paced business world.
A Comprehensive Solution for Successful Digital Transformation in Legal Operations
According to Gartner, the most effective approach to tackle the aforementioned challenges is to minimize the number of vendors and ensure solutions are interconnected whenever feasible. This facilitates the faster realization of the software investments’ value for Legal teams by eliminating the complexities associated with acclimatizing to new platforms, integrating configurations, and securing IT support for numerous disconnected solutions. Altien’s Legal Matter Management is one such solution that encompasses a broad spectrum of features to cater to the crucial technology capabilities necessary for successful digital transformation, as recognized by Gartner.
· Matter Management provides a flexible matter-centric model that can be configured for different legal practice areas, allowing consistent and specifically relevant classification and secure access to all related documents.
· Task Management to automate matter and document-centric processes, increasing efficiency and e-discovery.
· Email Integration offers automated server-based filing of inbound and outbound emails into relevant matter files, while Microsoft Office Integration allows for document retrieval, addition, and management within the office application.
· Calendaring ensures that all matter team members receive reminders for key matter dates, and Document Management captures and classifies all documents created within the legal department from the start of their lifecycle, enabling easy access and management.
· Contract Management allows users to manage contract dates, identify and report on special clauses, and report on company/client obligations.
· Knowledge Management enables improved knowledge management by providing a process for storing and sharing internal best practices, research, and outside work product, all in the same library.
· Reporting provides flexible and configurable reporting options based on taxonomy levels, field types or field numbers, dependent relations, hierarchical filters, and forward-fill descriptions without requiring any programming.
Four Pillars for Successful Digital Transformation
The rapidly evolving business landscape demands organizations embrace digital transformation to remain competitive. While technology is undoubtedly a critical factor in driving this change, it is not the sole determinant of success. Many digital transformation programs fail to deliver the desired results because of the intricate interplay between people, processes, and technology.
To achieve success in digital transformation, companies need to adopt a comprehensive approach that transcends a technology-first mindset. The approach should encompass an in-depth assessment of the scope of change, technology, and vendor implementation and support programs. Such an approach allows companies to identify the critical factors necessary for successful digital transformation and make necessary adjustments proactively.
Altien, a leading innovator in digital transformation, has developed a proven approach to increase the chances of success. The approach is based on four critical pillars essential to driving successful digital transformation.
The first pillar recommends that organizations should avoid completely overhauling their processes and systems. Instead, they should focus on the essential aspects that require technological involvement to achieve desired outcomes within a realistic timeframe.
The second pillar emphasizes the importance of assessing technology against the identified scope, considering existing processes. This ensures that the technology used is appropriate for the task at hand, rather than being influenced by technology hype.
The third pillar emphasizes the need for a support program that aligns with an organization’s existing way of working. This ensures that there is no conflict or confusion during the implementation of digital transformation initiatives.
Finally, the fourth pillar suggests minimizing the number of technologies used in digital transformation initiatives to avoid technological chaos that can hinder progress. By following Altien’s approach, organizations can achieve transformative outcomes that drive their businesses forward.
Conclusion
In conclusion, the legal industry, historically considered conservative and slow to adapt, is now experiencing rapid change, and legal operations must keep up with the demands of the modern business world. Legal departments must be equipped with the latest technology to support their digital transformation initiatives. Adopting legal technology is critical to the successful transformation of in-house legal operations.
Altien’s Legal Matter Management provides a comprehensive solution for successful digital transformation in legal operations, with its four pillars approach focused on assessing the scope of change, technology, vendor implementation, and support program. To remain competitive, legal teams must embrace change and take advantage of technology to better support the business and provide more integrated legal operations.
Read Gartner’s 2023 Market Guide for Corporate Legal Operations Technology report to learn more.
Contact us today to schedule a demo and see how Altien’s Legal Matter Management can help your organization achieve unparalleled efficiency, accuracy, and cost savings.
