With this LegalTech blog, we aim to inspire engagement with legal technology tools in a creative and transformative manner. Most of our posts are inspired by project work with our LegalTech Marketplace partners and contain references to their solutions. We share strategic insights to help increase the value of legal services and optimize business processes.
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 second eSign Day Conference to be hosted in Hungary in 2022.
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!
Are you confident in your team’s document generation workflows? For many law firms and corporations, the complexity and diversity of legal documents continues to challenge legal and compliance capabilities and processes. Our fireside chat covered best practices to manage opportunities […]
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.
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.
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.