As much as we’d like to have seen everyone in person at SOLID Winter this year, it was great to see everyone virtually and discuss the future of legal. For those who couldn’t attend, here are our key takeaways from the event:
Data is key
A recurring theme was about how we approach one of the most prevalent terms in the technology space – data. It comes as no surprise to claim data is key, but what do we still have to learn from it?
Many speakers asserted that the prevalence of data alone isn’t enough for successful digital transformation. The data at a minimum needs to be the right kind of data. As one speaker put it, no data at all is better than bad data. Any organisation has to get to grips with the data, how it is produced, and how they make use of it, before seeking a digital solution to enhance their delivery.
Data security was also touched upon, especially how cloud data storage can help with this.
Digital transformation isn’t a simple process
Despite being an incredibly valuable process for many organisations, digital transformation requires time, money, and energy. Chevron’s Legal Technology Manager, Amy Segeren, expanded on how interrogating a proof of concept with return on investment in mind is crucial to building a system which works for you.
Another recurring theme was how data must be used to assess the impact during and after digital transformation in order to enhance and iterate on the system.
Digital transformation is at the heart of what we do at Neota Logic. Partnering with our customers to help demonstrate the value of our technology is crucial in adopting our platform. Learn more about how we help our customers with ROI in this on-demand webinar.
Reframing technology around people
Key to the success of any business, whether going through digital transformation or otherwise, is building an environment where employee voices are heard. Several speakers brought up how engaging employees when embarking on technological transformation is fundamental. For example, in law firms, it is often the lawyers who get a voice in the process, while some paralegals are the ones who actually use new internal-facing software far more. Relativity’s Chief HR Officer, Beth Clutterbuck, drew on the importance of investing in the workforce of the future, fostering mentorship, and recognising employees.
Choosing the right partner or tech provider
With an increasingly populated legal tech vendor space, choosing the right provider has become a more complex task. If enough time and consideration are invested into this task, however, the provider chosen can ultimately pay dividends. This was a prevalent theme throughout SOLID, with speakers outlining the importance of asking more about your vendor. Factors such as who is in their team, who runs the company and provides the support, and whether it is an acquisition target can help inform the decision. Another crucial point when looking into more prescriptive legal tech products is whether the system can make substantive use of the data you gather.