We’re not big fans of shiny, new tech tools. Technology for technology’s sake is a foolish endeavour. We’re far more interested in solving problems using the smart application of people, process and technology. It’s a bit of a mantra.
But this doesn’t mean legal technology isn’t part of the answer – it often is! What’s really important when looking at legal technology is to consider how it will deliver a return on investment. We partner with clients around the world to help answer this question, but truth be told it’s quite a bespoke process – highly dependent on your objectives, procurement process, IT environment etc. However, here are just three of our high-level considerations for you to ponder:
1) Do you need a new piece of technology?
Often you might have technology within your existing stack that can be leveraged for your legal tech purposes. For example, you could consider optimising Microsoft Office 365 or similar for your legal workflow needs.
2) Do you have resource enough for both procurement and deployment?
Selecting the software and vendor might seem like the whole process – but it’s really not. Deploying and embedding the technology is a critical step that often gets overlooked in the planning stage of getting a new piece of technology. Ensure you have resource and time allocated to the proper deployment, training and embedment of the technology. Otherwise your expensive software becomes expensive "shelf-ware".
3) What are your risk thresholds?
Technologies and their vendors fall across a risk spectrum ranging from extremely safe (hello Microsoft) to volatile start-ups. Before embarking on any sort of procurement, you should know what level of risk you’re willing to tolerate. Knowing this up front, will ensure a quicker shortlisting and selection process.