To help legal and business leaders explore strategies and best practices with AI solutions, we onboarded new advisors and partners to offer a more holistic Legal AI Advisory service line in addition to our existing LegalTech Marketplace - select software solutions & implementation know-how. Learn about our training course offering and how our experts navigate this complex field.
As technological challenges continue to pressure legal service providers, it's more important than ever to stay ahead of the curve on the innovation considerations when it comes to law firm management. Yet for many small and mid-size law firms, implementing technology continues to challenge internal approval processes and client-facing marketing strategies.
Despite the short history of this new discipline, legal operations has become increasingly popular because it answers key questions about efficiency and effectiveness in legal work: how can a corporate legal department best deploy its team of smart lawyers and its technical resources to advance the organization’s goals, safeguard the business from all sorts of risks and protect corporate values?
InvestCEE LegalTech Consultancy and their LegalTech Marketplace partner ‘Xakia’ assisted Škoda Auto's legal department in improving legal operations with matter management and data analytics. Škoda Auto needed a legal matter management software that would prompt more targeted and impactful discussions with management regarding their performance and needs as a legal department, in turn leading to more influential internal and external business decisions.
Legal teams are increasingly required to deliver their professional service as a business. Corporate legal departments and law firms are equally expected to contribute more to their clients’ optimization efforts and to offer solutions in strategic initiatives. Irrespective of the size of a legal team, drafting a formal annual budget is a necessity. This article helps in-house counsel and law firm attorneys discover best practices, access free templates and start testing tools to get their legal budget in shape.
InvestCEE LegalTech Consultancy and their LegalTech Marketplace partner ‘Ment’ assisted Fujirebio’s European operations in implementing document automation technology in their legal department. The legaltech advisory team worked closely with Fujirebio Europe’s in-house counsel based in Ghent, Belgium to source and implement the adequate platform corresponding to their specific legal workstream needs.
Complex workstreams like contract management often require a set of viable strategies to improve internal efficiencies in an organization. Working closely with our clients in this professional context, we found that fine-tuning first the pre-signature and then the post-signature phase of contracting helps better manage the overall process. In June 2022, InvestCEE LegalTech Consultancy released Part I of our new strategy paper series dedicated to improving the pre-signing phase of contracting - the full PDF copy can be accessed in this article.
When conducting a legal technology audit in a corporate in-house department or law firm (of any size), we assess a legal team's digital maturity and help define an innovation strategy going forward. A LegalTech audit is a preliminary step for thoughtfully implementing emerging technologies into corporate legal operations and law firm practice. Our assessment report along with an overview of new and innovative tools designed for legal work, enables lawyers to streamline their daily tasks, build business flexibility into their practices and provide a more effective and highly responsive legal service.
March 2022 marks the 5th anniversary of launching InvestCEE LegalTech Consultancy and we're inviting our professional community over for a full-day virtual house-party: our first LegalTech Mastermind Day! We're hosting this free of charge inspirational event to celebrate the excellent relationships we've built over the years with our advisors, legaltech vendor partners and legal teams across Central Eastern Europe and beyond. We hope you can join us!
InvestCEE LegalTech Consultancy in collaboration with Hungarian digital law firm SimpLEGAL issued a practical guide on legal AI to showcase how smart legal technology opens up new opportunities for digitizing legal services. Law firms and in-house legal departments often still lack clarity as to the use cases and basic terminology used in the legal AI domain.
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.
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