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How do you calculate the return your legal firm will get from investing in a document management system (DMS)? To help with the answer, this article explains how to calculate ROI using ‘hard cost’ savings.
The adoption of a Cloud-based document management system makes sense on several levels, but how can you prove that it’s to the firm’s advantage to invest in a DMS before you make that commitment? Typically, firms guesstimate non-billable time (soft costs) via a formula that might look like this:
Global News
BusyLamp, a leading legal operations software provider, has launched Matter.Space in response to the rapidly growing demand from in-house legal teams for a user-friendly, full-suite software solution that optimises the management of legal matters, documents and workflows.
Global News
Aderant®, a global business management software provider for law firms, has announced the promotion of Raphael (Rafi) Shure to Executive Vice President and Chief Operating Officer (COO).
UK News
Tiger Eye, the leading iManage partner for knowledge and technical expertise, has made the final shortlist for The Investors in People Awards 2021 in the UK Employer of the Year: Silver category.
Global News
Wilson Allen today announced the addition of James Baldassarra as Director of Data Sciences.
Global News
Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced the general availability of InvoiceAI.
Global News
Veritext Legal Solutions, the leader in deposition and litigation support solutions, today announces the company has acquired Reportex and its family of brands in British Columbia, Canada.
Global News
Information governance leader FileTrail today announced that international law firm Clifford Chance has selected FileTrail GPS (Governance Policy Suite) to replace and upgrade its records management system.
Global News
The latest Bellwether report titled “Small law in the pandemic: The good, the bad and the new” was released today by LexisNexis Legal & Professional. The report highlights that 31% of firms have outperformed profit expectations since the pandemic.
UK News
Tiger Eye, leading iManage Partner for Knowledge and Technical Expertise, have today announced the replacement of their Migration Suite solution for iManage with Migration Duo – a dual-component solution providing both import and export functionality for comprehensive migration management, all accessed through an intuitive interface.
With investigations on the rise, effectively managing and reducing potential brand, reputation and financial risk is critical to all organizations. Research from Gartner recently found that legal and compliance professionals are experiencing higher than normal levels of work. These demands are often at odds with static or declining budgets and resources constraints.
UK News
Bournemouth-based, full service commercial law firm, Steele Raymond, has selected Ascertus Limited to help the firm adopt best practice document and email management, with the implementation and support of iManage Work in the cloud.
USA/Canada News
Cariola Díez Pérez-Cotapos (Cariola), one of Chile’s leading full-service law firms, has selected NetDocuments, the foundational content management platform for legal professionals for improved productivity, collaboration, security, and mobility.
As a law firm owner, your first and foremost need is to boost the efficiency of your business. I’ve heard this time and time again during dozens of conversations with law firm leaders from across the U.S. What I have also picked up is that advanced law businesses are leveraging legaltech to optimize every little part of every business process.
Some start with seemingly inconsequential tasks — and yield jaw-dropping results. From my experience, a small law firm can slash costs by $150,000 per year by simply bringing bits of automation to the process of contract review.
USA/Canada News
NetDocuments, the leading cloud content management platform for legal professionals, today announced that Am Law 200-ranked law firm Ice Miller successfully implemented the NetDocuments native cloud platform, replacing its existing, aging, client-server system.
Global News
Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has acquired Bodhala, the leading provider of AI-powered legal spend analytics, benchmarking and market intelligence.
Global News
BigHand today announced that it has appointed Claudia Belardo to the newly created role of CCO. Claudia, who will be also taking a seat on BigHand’s Operational board, will be responsible for driving BigHand’s customer-centric strategy, a key part of the company’s growth plans.
Global News
Aderant®, a leading global business management software provider for law firms, announced that its Handshake knowledge management (KM) enablement suite now integrates with Microsoft Teams to provide a wide range of Teams Provisioning features for Handshake customers.
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