PRO Partners

The real value of data: should everyone have access?

Lauren ColbeckThe question of who should have access to the valuable bank of commercial and client data law firms are sitting on is an interesting one. 

Technology is continuing to break down departmental silos, allowing data to flow freely between individuals and teams – enabling firms to remove excessive admin and duplication, and gain new insights into commercial opportunities. 

Greater visibility means that fee-earners are able to see whether they’re on target, right down to a monthly, weekly or daily level, and drive cross-selling and up-selling. 

How to fast track business development and win new cases

Simon PriceTo compete in today’s world, law firms must provide exceptional and prompt client service delivery—which requires that comprehensive case, subject matter and other relevant information be available at their fingertips.  

However, searching across disparate systems for subject matter expertise, related content, and case research tops the list of wasted, unbilled work. Unbillable work not only affects partners’ and the firm’s profitability; it also affects your ability to keep up with growing competition from other firms or alternative legal service providers.

Evisort’s Future of Contracting Conference Explores the Future of Contract Management and AI

Jerry TingWhat is the future of contracting? Only two things are certain: dramatic change and artificial intelligence (AI). On November 9th, Evisort hosted our first-ever virtual conference, “The Future of Contracting.” The conference explored the evolution of contract management, success stories from legal teams that have implemented innovative contract management solutions, and best practices to help attendees stay ahead of the curve.

How to Prove the Value of a DMS – ROI Based on Hard Data

Peter ZverHow 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. 

Framing the issue

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: 

Using front-loaded analytics to speed up legal investigations

Simon PriceWith 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. 

How contract review software helps law firms boost efficiency and save money

Elena ChornaAs 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.

DMSforTeams: a fresh look at using Microsoft 365 as document management system

Epona logoThe sharp minds at Epona realize that for information to work for you, it needs liberty. It needs freedom. No lock-in from another 3rd party vendor database in the cloud. Employees need to be able to access content through applications they know and love natively.

Law firms: maintaining compliance and keeping security front of mind is more important than ever

Steve SumnerLegal firms handle a great deal of sensitive information. This can include everything from corporate intellectual property, client and financial data to personally identifiable information (PII). In many cases, some or all of this information is accessible to employees via their work-issued smartphones and laptops. Your firm’s IT team is probably responsible for providing the firm with video conferencing, secure access to a whole host of SaaS-delivered applications and general internet sites through web browsers. In the same vein, they are probably also supporting requests for the use of non-traditional apps (in order to meet client preferences) for modern communication and social media interaction. It’s these kinds of apps that have the potential to put a firm out of compliance or give hackers an additional entry point to be able to compromise the firm’s data security.

Setting the boundaries: Protecting the privacy of practitioners while staying on top of compliance

Brian RogersLong-term home working will have had its pros and cons for many legal practitioners over the last 18 months. But, with new research showing that many law firms plan to switch to a permanent model of hybrid working as restrictions ease, questions and challenges are thrown up around privacy and compliance. 

Here, Brian Rogers, Regulatory Director at law technology specialist Access Legal, discusses the most overlooked compliance procedures during the pandemic and the processes law firms should consider introducing to their remote working policies to ensure clear boundaries are set. 

Beyond document management

FVHow confident are you that you really know what a document management system (DMS) can do and the additional opportunities that it can provide to the firm? I find people broadly know what it is, but their understanding only goes so far. Yes, a DMS allows for electronic filing of documents and emails into a virtual filing cabinet from where they can be easily searched and retrieved. But that’s ‘DMS 101’. What’s really powerful are the other things that become possible when paper is eliminated and the physical is transformed into the digital. This short article is about what can be achieved when you start to realise the opportunities beyond DMS 101.

How Law Firms Can Prepare for Rising Nation-State Cyber Attacks

HBR logoIn March 2021, Microsoft shared detailed information regarding a “state-sponsored threat actor” based in China that targeted a wide range of entities in the U.S. — including law firms. The highly sophisticated cyber attack used previously unknown exploits to infiltrate on-premise Microsoft Exchange Server software at tens of thousands of organizations across the U.S.

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