We regularly speak to in-house GCs who see the benefits of adopting new technology, but they simply can’t get off the starting blocks. They’re faced with a myriad of confusing and often competing choices – the Legal Tech noise can be deafening.
To help you find your way we, along with our new Legal Operations partner LOD, have explored some of the most common questions we’re asked and provided clear answers about Legal Tech and the Legal Operations that complement it.
I know I need to invest in Legal Tech, but where should I start?
A good starting point is to audit your existing tech and the processes you use first.
You’ll be surprised how many companies already have the right tools at their disposal, but either aren’t aware they exist, or haven’t appreciated what their current tech can do (Microsoft’s Office 365 Suite for instance can do far more than simple word processing, spreadsheets, and presentations).
Whether you want to adopt new technology or upgrade your current system, sticking with inefficient manual processes is unsustainable. While a lot of Legal Tech products provide excellent functionality, they can’t fix poor processes.
Get your house in order first, otherwise you’ll waste time and effort creating bad versions of what you’ve already got. You can achieve this by doing a focused discovery project to understand the status quo and spot the best opportunities for improvement. You could do this yourself internally or involve an external consultancy.
How do I know which tech solution is right for my business, they all seem to have such similar functions?
Once you are clear on your objectives, work with an expert to form your Legal Ops and Tech strategy. They are specialists in ensuring that your choices deliver against your objectives, so you’ll be in safe hands.
We often help companies who have missed this step. They’ve often purchased a particular product hoping that it will fix all their current ills, but they’re not fit for purpose. Another common mistake we see is where companies have bought extra functionality and pay too much for elements that are surplus to requirements. An expert opinion is invaluable.
Our budget for Legal Ops and Tech is limited. How can I maximise the ROI?
Once you’ve designed a solution to meet your needs, ensure you start small and stay focused. Changes in requirements midway through a delivery will scupper the project before it has a chance to succeed.
Don’t blow all the budget on the software. As a rule of thumb, expect to spend roughly three times the cost of the annual license fee on configuration and installation. Like buying a kitchen, the real craft is fitting it beautifully into your home, not just receiving a delivery of flat pack cupboards.
Will I be able to implement these solutions whilst doing my day-to-day role?
If you’re doing this to streamline processes, manage workload, and increase efficiency, then it’s unlikely you’ll have time to manage a major transformation project like this too. Many of our clients underestimate the effort needed to successfully implement new technology and the ongoing investment in time to ensure they get the most out of it longer term.
And appreciate that not all external consultants are the same. Having someone who has a deep understanding of your legal processes as well as your objectives will ensure successful implementation and adoption.
Call in the experts.
The avalanche of options can feel overwhelming but making sure that you have the right support and guidance can help you cut through the noise. If you’re looking to transform your Legal Tech and Ops landscape – or just make improvements to existing processes – get in touch today to see how SYKE & LOD can help.