In December 2021, InvestCEE LegalTech Consultancy in collaboration with Hungarian digital law firm SimpLEGAL issued a practical guide on legal AI. The handbook is non-sponsored professional content so instead of listing particular AI vendors, we aimed to inspire engagement with AI-based solutions in a creative and transformative way, help increase the added value of legal services and enable fair business processes through legal technology. This blog post summarizes the key take-aways and provides free access to the full English language handbook.
Calculating the ROI of LegalTech investments can help to estimate the costs and benefits of tech-assisted legal work compared to traditional ways of providing legal services. Stop by the next Legaltech Academy Meetup and learn from InvestCEE's expert advisor Chuck Henrich -- he'll be sharing his best practice tips at the webinar!
Investing in legal technology is fundamentally a business decision: will the benefits of the investment outweigh the costs? Return on the investment must justify the effort and expense of upgrading a legal team’s infrastructure and skills. A return-on-investment (ROI) calculation should help the decision making process with realistic numbers and flexible variables to account for different users and use cases. In this article, InvestCEE’s legaltech advisor Chuck Henrich explains what metrics legal teams should take into account in calculating ROI for tech-assisted legal services, and how to do it.
In a recent legaltech implementation project, InvestCEE LegalTech Consultancy and our LegalTech Marketplace vendor Dealsign brought end-to-end digital contract management to a leading player in the CEE region's online food ordering industry. In a multi-disciplinary teamwork that included our client's operational, legal, HR and IT departments, the project focused on shifting from paper-based traditional contracting (with ink-on-paper signatures) to 100% virtual contract management.
The Polish team behind LegalTech Academy is organizing this online meetup on October 5th, 6pm CET to focus on the potential of data in the legal industry. Register and stop by this event to learn our insights on using data as a strategic tool for legal teams!
Seamless contracting is a top priority for all organizations, irrespective of company size and industry. Technology is within reach to assist with certain parts of the contract lifecycle or to manage the entire process on a single platform (end-to-end). Yet despite the abundance of tools available, there are many impediments to change for better contracting habits. Here’s an overview of three typical challenges and our best-practice tips for improving contracting with technology.
Since year 2000, June 30 marks the anniversary of the ESIGN Day in the United States. As eSignature is increasingly part of everyday business life on a global scale, the ESIGN Day is becoming a cause for celebration in various jurisdictions across continents. At InvestCEE we view electronic signatures as a true cornerstone of digital transformation and are delighted to take part in the first eSign Day to be hosted in Hungary in 2021.
In a digital economy, the value of legal work largely results from core human expertise multiplied by the ability to efficiently “package” legal know-how into technology. Legal analytics tools designed for lawyers allow a shift away from the billable hour and enable workflow data analytics that capture core human expertise.
At the end of 2020, EXE.legal, a Lithuania-based specialized law boutique, and InvestCEE LegalTech Consultancy, a legal innovation advisor, have announced their cooperation agreement on consultancy services aimed at law firms and in-house legal departments with a focus on deploying legal technology solutions. Since then, the collaboration has kicked off with full speed, Dr. Paulius Astromskis, Managing Partner at EXE.legal, and Dr. Orsolya Szabó, CEO of InvestCEE LegalTech Consultancy, shared their take-aways from the past few months.
Legal design is a forward-looking methodology to help redesign professional services provided by lawyers to better fit a digital economy. Document automation is a digital tool highly capable of upgrading legal service delivery. A webinar combining these two is a very valuable learning opportunity for those committed to legal innovation!
Investing in a cloud-based practice management software can boost operational efficiency and streamline task flow management for law firms of all sizes, including solo practitioners. Matters.Cloud is hosting this legal practice management webinar to offer insights into its latest features and enable taking an informed decision about investing the time, effort, and money required to make the most of their cloud-based tool.
Unless carefully planned, all the value added at the contract negotiation and electronic signing stage disappears as soon as the executed contract gets randomly filed. Smart contract management in the post-signature stage is necessary to harness the benefits of contracts in an organization. We’ve condensed our best practice tips in this 5 step plan based on InvestCEE LegalTech Consultancy’s experience with digital contracting processes.
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