InsideLegal[Tech] New York 2014: Day One Musings

LegalTech NY (LTNY) Day One is in the books. Here some insights and first impressions:

Information Governance … the new eDiscovery?! Our LTNY 2014 word cloud reveals information governance (IG) as the most mentioned theme this year. This comes as no surprise as the adoption of effective IG has become critically important to law firms from a compliance, risk management and efficiency perspective. In turn, law firm clients are looking to see how their outside counsel govern their information in light of increased regulatory requirements for personal health information as well as a bevy of information of big data origins. Based on a few initial vendor conversations today, the lines of eDiscovery (EDD) and information governance are blurring. Established EDD vendors are adding IG tools to the collective toolbox in response to clients’ challenges to establish sound IG frameworks to in turn comply with their clients’ demands. We are particularly looking forward to ARMA’s track and three dedicated sessions focused on ‘IG secrets of successes for strategy and action’. In total, we counted 14 IG-themed sessions and 23 LTNY exhibitors (out of 220) focused on various information governance products and services ranging from secure data storage to email archiving and IG process and workflow management.

LTNY Exhibitors … A closer Look: We have long tracked and reported on the trend of eDiscovery vendors taking over LTNY and 2014 is no exception. 85 of the 220 registered vendors (38%) [updated numbers for last minute vendors] touting eDiscovery solutions vs. 41% in 2013. 30 of the 64 sessions (including keynotes and plenaries) are EDD-themed and 11 of those are solely focused on the buzz around predictive coding and technology assisted review (TAR). 65% of the official LTNY educational sponsors are eDiscovery product and service providers. Here’s a closer look at some of the other breakouts:

  • eDiscovery vendors 38%
  • Cloud vendors (only touting cloud solutions) 3%
  • Big data (companies marketing big data-type solutions) 5%
  • Information Governance 10%
  • Practice Management Systems (combination of client-server and cloud providers) 8%
  • Document Management (some overlap with PMS and cloud providers) 18%

In the LegalTech News: We received countless press releases on exhibitors’ new offerings and LTNY premiers today. Here are a few standouts:

Exterro Launches Fusion Employee Monitor™: Exterro Inc., the leading provider of workflow-driven e-discovery software, today unveiled Fusion Employee Monitor, its newest application designed to mitigate the risk of corporate data spoliation caused by employment changes. Fusion Employee Monitor detects employee status changes to ensure that critical information tied to business activities, legal matters or regulatory actions is adequately protected. Read the full release here.

LexisNexis launches Firm Manager … a new application for law firm practices management in the cloud.  The product is designed for small law or independent attorneys and has been in beta for more than a year. Read the full release here.

HP Autonomy Extends eDiscovery Platform to the Cloud: HP Autonomy today announced a new cloud-based eDiscovery offering that provides law firms, partners and small and midsize businesses (SMBs) with a fast, easy and cost-effective path to leverage HP Autonomy’s market-leading eDiscovery platform. Read the full release here.

 

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InsideLegal[Tech] New York 2014: Essential Facts, Figures & Predictions

LegalTech New York is here, again. The Super Bowl and Groundhog Day are over; the snow is here, so it must be time for another LTNY. This year marks our 15th LegalTech attendance and if you aren't able to be on-site with the 1,000s of attendees, 200+ vendors and countless legal technologists, consultants, media/bloggers and influencers from literally all over the place, tune in to our daily LTNY reports and recaps. To kick-off our 2014 edition, here’s our short list of pre-show topics, sessions to watch, trends to notice and conference stats.

LegalTech or eDiscoveryTech?! We have long tracked and reported on the trend of eDiscovery vendors taking over LTNY and 2014 is no exception. 82 of the 216 registered vendors (38%) touting eDiscovery solutions vs. 41% in 2013. 30 of the 64 sessions (including keynotes and plenaries) are EDD-themed and 11 of those are solely focused on the buzz around predictive coding and technology assisted review (TAR). 65% of the official LTNY educational sponsors are eDiscovery product and service providers. 

Big Data: Ready for prime time? We’ve likened the interest of legal big data in 2012 and 2013 to a ‘first date’ … lots of uncertainty and nervousness about what’s next. Consider the 2014 ‘big data and legal’ relationship a serious one. New big data technologies are steadily emerging and established eDiscovery vendors are increasingly joining the big data mix with ‘industrial strength’ enterprise search and predictive coding/TAR technologies ready to assist legal professionals with more than ‘just’ tackling gargantuan sets of documents. Of the 7 dedicated big data sessions spanning two educational tracks by the same name, only three are not TAR/predictive coding themed, so the big data = eDiscovery stigma is still alive and well. 10 LTNY vendors are what we would label big data — spanning predictive analytics and search, legal spend management and machine-enabled data processing. We did not include eDiscovery companies in this count, some of which are starting to promote aforementioned big data processing capabilities.

Information Governance: The LTNY 2014 agenda word cloud cites information governance (IG) as the hottest topic based on educational content covered in 14 IG-themed sessions. Consider IG as an umbrella topic including risk management, IT security, governance policies/procedures and privacy. Governance is an ‘equal opportunity’ hot topic, challenging law firm CIOs and other C-Levels, GCs and CISOs to come together and devise best policies and practices to protect their own and their clients’ information interests. We also counted 23 LTNY exhibitors focused on various information governance products and services ranging from secure data storage to email archiving and IG process and workflow management.

The cloud all grown up: Law Technology News’ latest cover story features Thomson Reuters’ new president and her quest to accelerate development of the company’s cloud and mobile technologies. Last month, LexisNexis published its “Cloud Technologies in the Legal Industry” report citing that 72.4% of the surveyed attorneys say law firms are more likely to use the cloud in 2014. These numbers also jive with what we analyzed and reported on in the 2013 ILTA/InsideLegal Technology Purchasing survey. So what’s next: Like we mentioned in our LTNY word cloud post, the time for talking is over with the focus on real world cloud applications beyond DR/BC and storage. David Whelan, manager of legal information for the Law Society of Upper Canada, also says so in his recent LTN piece … “mobile apps are enhancing lawyer productivity and new tools are emerging to manage and integrate cloud services with existing web-based legal technology.” There are 17 companies offering practice, case and matter management products, some client-server but many of the being offered in the cloud or via SaaS model.

Sessions worth getting up for: With 58 educational options, as well as a daily keynote and plenary session to choose from, it might be tough to narrow down the ‘best bang’ for your educational buck.

·         Beyond the Buzz: Perspectives on Big Data & the Challenges of the Digital Age for Legal Practice [Tuesday, Track 3, 10:30-11:45] Explore big data tools & learn about real world applications

·         Day One Plenary Session: “Disrupt” for Lawyers – Think the Unthinkable to Spark Transformation in the Legal Industry [Tuesday, Track 12:30-1:30]; international bestselling author Luke Williams shares ways legal professionals can innovate and disrupt

·         Information Governance Best Practices: Taking your Organization to the Next Level [Tuesday, Track 2:00-3:15]; Good IG primer presented by an esteemed group of panelists

·         IT: The Catalyst [Tuesday, Track 7, 3:45-5:00]; ILTA’s advanced IT track is always a LTNY winner. This session features rapid fire presentations on the power of IT as change agent

·         Total Cost of Ownership – Cloud vs. Premise: An Appellate Court-Style Debate [Wednesday, Track 7, 2:15-3:30]; Should I choose cloud-based software or software that’s installed at my office?

·         Day 3 Keynote: Privacy and Security [Thursday, 9:00-10:00]; The biggest challenge facing all of legal, co-presented by ILTA Distinguished Peer Awards ‘Thought Leader’ winner Donna Payne. A must see!

·         Measuring for Value: Addressing the Challenges in Measuring Performance Quality In and Outside of the Corporate Law Department [Thursday, Track 1, 10:30-11:45]; Kia’s Casey Flaherty, Lex Machina’s Josh Becker and Reinvent Law’s Daniel Katz look at metrics that can fully measure law firm and vendor value and quality.

LTNYEmails1Direct mail Noise: Is it worth it? We read a tweet last week of a legal professional exasperated with the barrage of vendor mailers and emails leading up to LTNY. He mentioned receiving 150+ emails/vendor communications and ‘I’m not even attending LegalTech”. We agree, vendor pre-marketing efforts are unprecedented this year. In fact, we have been collecting the ‘best and worst’ of the mailers and emails we have received … done right, a mass email can actually solicit a positive response or a neutral delete. Done wrong (10 misspellings in a 50 word sales pitch or a 2000+ word ‘direct mail’ novel meant to …) these expensive pre-show efforts can really back-fire and make sure you’ll be singled out, for all the wrong reasons. Our perfect example of what not to do is referenced above. That intro was the beginning … of numerous errors and typos within the email introduction to their company. We do feel like we know them now! 

If you are in New York, we hope to see you this week … on the exhibit floor, in conference sessions and keynotes, at the media and bloggers breakfast, or at Friday’s ReInvent Law event. 

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What Technology ILTA Law Firms Said They Plan to Buy This Year (broken down by firm size)

What technologies are law firms looking to purchase this year? In a recent post, we took a closer look at what technology (hardware & software) International Legal Technology Association (ILTA) member law firms said that they purchased last year (taken from our 2013 ILTA/InsideLegal Technology Purchasing Survey). Now it's time to look at what those same firms said they were planning to purchase in the "next 12 months". This chart reflects 209 law firm responses broken down by firm size. 

 

Planned purchases broken down by firm size

 

ILTA/InsideLegal Technology Purchasing Survey

For original commentary and analysis on law firm technology purchasing trends, reference the original 2013 ILTA/InsideLegal Technology Purchasing Survey report (16 pages).

 

Posted in Future of Law Firm, ILTA, ILTA Exhibitor Resource, Law Firm Leaders, Law Firm Technology, Legal Industry, Market Research, Surveys, Thought Leadership | Comments Off on What Technology ILTA Law Firms Said They Plan to Buy This Year (broken down by firm size)

LegalTech NY 2014 Agenda Word Cloud (& Comparison to Past Years)

Next week, a few thousand people will convene at LegalTech New York (LTNY) for 3 days of exhibitions, networking and legal technology sessions. To give an overview of what will be covered in those sessions, we have again created the LegalTech New York agenda word cloud, visually displaying the words/themes included in the event's agenda of sessions (minus days, times and people's names). FYI … the size of selected words dictate how often they have been mentioned or referenced within the agenda (aka, how popular they are). [Click on image to enlarge]
 
LegalTech NY 2014 Agenda Word Cloud - InsideLegal.com

 

This is the fourth year we have turned the event program into this type of word cloud, a visual snapshot of the main content themes and discussion topics. How does this compare to previous years? What topics made headlines in our word clouds for 2013, 2012 and 2011?  Here are some musings on 2014 and past year comparisons:
  • So 2014 is the year of information governance and data (not necessarily 'big')… proactive risk management. How can we properly (legally/ethically/affordably) manage and control data? What is the intersection with eDiscovery and big data? ARMA, which in 2013 put together several high quality big data sessions, looks to be focused on information governance education in 2014. 
  • Big data made a big showing in 2013 but didn't appear in 2012 or 2011. This year, even though there are a 2 dedicated 'big data' conference tracks, the topic itself appears a bit muted. Our conclusion: Most sessions and content themed big data on the agenda are actually eDiscovery related – see predictive coding, technology assisted review, etc. After all, the main big data track sponsors are eDiscovery folks. Include 'analytics' and 'metrics' and the slew of info governance topics and a more well-rounded big data picture takes shape.
  • Considering privacy and security are on everyone's 'major challenges' and 'top priority' lists, the topics themselves are somewhat downplayed. We suspect these topics are central to most information governance discussions which seem to be dominating this year.
  • What happened to law firm clients and corporate? Sessions focused on clients/serving corporate were a much bigger deal in years past … a disappointing trend considering GC dissatisfaction with outside counsel is growing and not going away.
  • Where did the big pricing discussion go? Remember AFAs? Session wise, LTNY seems to have moved on.
  • The 'cloud' has officially left the building… but only in terms of being talked about and labeled. While everyone was talking about cloud solutions in 2011 and 2012, we couldn't find much talk of it in the agenda. Now, the true cloud focus is on real world applications beyond DR/BC and storage.
As a comparison, we have included the LegalTech NY Agenda Word Clouds from 2013, 2012 and 2011.
 
LTNY13AgendaWordCloud_InsideLegal

Subscribe to InsideLegal for LTNY updates and market information and follow us on Twitter at @InsideLegal for timely updates. 

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LegalTech New York Agenda Word Clouds 2011-Present

Below are the word clouds that we have created from Legaltech New York’s agenda over the past few years. It gives a good overview of how the shift in focus evolves.

2017

Legaltech NY 2017 Agenda Word Cloud

 2016

Legaltech-NY-2016-Agenda Word Cloud-InsideLegal

2015

 
LegalTech NY 2015 Agenda Word Cloud by InsideLegal

 2014

LTNY 2014 Word Cloud

2013

LegalTech NY 2013 Word Cloud

LegalTech NY 2012

2011

LegalTech NY 2011

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ALA’s Legal Management Goes Digital … Looks Ahead with Future Legal Technology & Strategy

Ten months ago, the Association of Legal Administrators' (ALA) editors shared their plans to 'go digital' with their Legal Management membership publication come January 2014. We loved the idea at the time, and now that we have previewed both the iPad app as well as the newly designed digital magazine website, we adore it even more. Today marks the official launch of the new medium which according to ALA's executive director Oliver Yandle provides members with "outstanding, robust, in-depth content presented in an engaging, interactive, immersive experience" — definitely a more engaging and rewarding user experience than its previous paper counterpart. 

Legal ManagementBefore we dive into more bells and whistles of the new digital platform, let's focus on the first issue's theme — "Law Firm Futures, focusing on where the legal industry is headed in the years to come." The topic works well with the digital launch plus is one of the hot topics among legal professionals … what's on the legal horizon? how do we get there? and how can we manage to not only keep our clients happy but attract new ones along the way? Technology is no doubt the linchpin in helping law firms find answers to these questions. InsideLegal was fortunate enough to author the inaugural issue's cover story: "Strategizing Today for the Legal Tech of Tomorrow", a close look at how technology can/is helping law firms move beyond the dreaded status quo. We'll dedicate more time (and blog space) to this article a bit later, but wanted to thank our team of nine legal thought leaders and influencers who contributed commentary and insights for this feature. The article can be openly viewed via the tablet apps.

As promised, here are some more details on the new digital format:

  • The new monthly (12 issues per year!) Legal Management will deliver exclusive educational content in truly innovative fashion. Download the free app for iPad or Android tablet, and start interacting … 
  • The tablet apps including the January 2014 issue as well as archived content will be available for all (not only ALA members) to experience. Sometime around February or March, subsequent issues on the apps will also be password protected but the editors plan to publish monthly samples so that potential members or other interested parties can preview new content. Existing members/those with UN/PWs can access the new website at any time.
  • Hyperlinks and other touch-features of the tablet version allow readers to connect directly with authors and from the magazine.
  • Multimedia features provide more in-depth content through video, podcasts and other media. The new customized, easy-to-read, easy-to-navigate website provides access to all of the same content that is available on the tablet version.
  • Make sure to click through all the features and icons on the iPad/Android tablet versions since there is bonus/additional content waiting to be discovered.

Overall, we applaud the ALA for going digital and giving their nearly 10,000 strong global membership a 'new and improved' way to  consume legal management, marketing, operations and financial-themed content.

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Law Firm Technology: What Law Firms Said They Bought Last Year (broken down by firm size)

ILTA/InsideLegal Technology Purchasing SurveyFor the last eight years, we have partnered with the International Legal Technology Association (ILTA) to produce the annual ILTA/InsideLegal Technology Purchasing Survey (Survey), examining the technology purchasing trends, budgets and purchasing influences of ILTA law firm members. Thanks to the law firms, the survey yields so much valuable information but we can't possibly fit it all into the report. We've decided to provide a series consisting of additional views of the data broken down by firm size. 

As it relates to the Survey, one of the most popular and telling set of questions we ask firm respondents each year is what technology they purchased last year and what they are going to be purchasing next year. While we do include the responses to both of those questions in a table in the main survey report published annually in conjunction with the ILTA Conference in August, considering how valuable this information is, we decided to revisit it and break it down by firm size. For original commentary and analysis, you can reference the 16 page 2013 Survey report.

First up, we are looking at what technology law firms purchased last year. We received responses from 215 law firms and this graphic breaks those responses down by firm size. 

Next we'll be drilling down to give a closer look at what the firms said they will be purchasing "in the next 12 months".

Posted in ILTA, ILTA Exhibitor Resource, Law Firm Leaders, Law Firm Technology, Legal Industry, Market Research, Surveys, Thought Leadership | Comments Off on Law Firm Technology: What Law Firms Said They Bought Last Year (broken down by firm size)

ILTA/InsideLegal Law Firm Technology Purchasing Survey

Since 2006, InsideLegal and the International Legal Technology Association (ILTA) have collaborated to produce the annual ILTA/InsideLegal Technology Purchasing Survey examining technology budgets and purchasing trends of ILTA member law firms. The Survey includes detailed technology budget data; updated information on firms’ purchasing influences and patterns; legal IT department trends and challenges; and expansive sections on specific legal technology purchases – both last year’s and those planned for the upcoming year. 

The survey is commissioned by ILTA and administered among its law firm membership. InsideLegal is responsible for the survey instrument, data analysis and the final report/presentation. Survey findings are presented by InsideLegal each year at ILTACON.  

:: Click below for the latest survey report ::

:: Subscribe to InsideLegal for additional data analysis/breakdown ::

2016 ILTA InsideLegal Technology Purchasing Survey

 

A Look Back – Download the 2015 ILTA/InsideLegal Technology Purchasing Survey 2015 ILTA InsideLegal Tech Purch Survey

A Look Back – Download the 2014 ILTA/InsideLegal Technology Purchasing Survey
2014 InsideLegal ILTA Survey Header

 

About ILTA
International Legal Technology Association (ILTA) is the premier peer networking organization, providing information to members to maximize the value of technology in support of the legal profession. For more information on ILTA, visit ILTA’s website or contact Peggy Wechsler at (512) 795-4662 or peggy at iltanet.org.

About InsideLegal
InsideLegal is the insider’s guide to doing business in legal technology – both in the U.S. and internationally – for legal technology thought leaders, consultants/technologists, vendors and law firm innovators. For more information, please visit InsideLegal.com, @InsideLegal or contact JoAnna Forshee at jf at InsideLegal.com.

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Happy New Year!

NewYear (7)

Wishing you all a happy & prosperous 2014!  

JoAnna & Jobst

 

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12 Rules of Law Firm-Client Relationship Marketing (Part Two)


Link to InsideLegal's Experience Lab Coverage on Storify

Link to All Presentations from One North's Experience Lab

Welcome Chalkboard Art by One North

 

[…This is Part Two of our Relationship Rules from One North's 2nd annual Experience Lab. Check out Part One here.] 

Relationship Rule #7:  Set the right tone for your relationships with trust & authenticity
Sarah Levine MeyerWe are in the relationship era. It’s not just our own experience anymore, instead we are going to Yelp, Angie’s List, Twitter, Trip Advisor and other networks for trusted advice and feedback. As stressed by presenter Sarah Levine Meyer, successfully selling a product or service is the result of something more and often includes the authenticity and passion associated with the mere item. Case in point … successful product and services go beyond selling something customers need. They are relatable and convey trust and authenticity, characteristics that are critical in building long term relationships. Case in point, Proctor & Gamble has made the strategic move from merely selling ‘products’ to selling the ‘business of improving lives’. New Tide commercials for example, focus on the father-daughter experience as opposed to promoting a laundry detergent that cleans clothes.

To take this further, a recent McKinsey Quarterly article and survey revealed how 'B2B companies talk past their customers'. Here's an excerpt of the findings: "Themes such as social responsibility, sustainability, and global reach, which many B2B companies cast in a leading role for brand imaging, appeared to have a minimal influence on buyers’ perceptions of brand strength. Honest and open dialogue, which customers considered most important, was one of the three themes not emphasized at all by the 90 companies in our sample …"

Relationship Rule #8:  It’s all about making emotional connections … through design and visual appeal
Nathan Denton One North Creative Director Nathan Denton introduced the concept of ‘attractionality’, the combination of attraction and personality. First and foremost, a website should be functional, reliable and usable before a layer of enjoyment is applicable. Once the core is defined it is the added ingredients that can trigger emotional responses. Add authenticity, quality, attitude, organization and visual language, and businesses have triggered an emotional response from their audiences using the method he dubbed attractionality.

Relationship Rule #9: How strong are your relationships when the going gets tough?
Ryan HornerRyan Horner, One North CTO, focused his discussion on the resilience of brands and companies. He emphasized the strength of client relationships and the importance of responsible and compassionate communications especially during crisis moments. You learn the most about a company when there’s a disaster or unforeseen issue. For example, Codero Hosting recently experienced a significant server outage leaving many clients without service. However, the company immediately took to Twitter to own the problem and provide answers to tough questions. Within four hours of the initial outage, the company’s CEO published a public apology via YouTube while the company continued to address customer issues. Within 24 hours, customers used Twitter to recommend Codero solutions and commend its above board handling of the outage.

Relationship Rule #10:  Good things come in small packages: Focus on design and technology details that create memorable client experiences
Jessica DeJongWhile understanding and executing on the big picture is critical, so is the focus on details. One North presenters Jessica DeJong and Pete Amundson introduced the concept of micro interactions, “the little details that separate something you tolerate from something you love”. They are the smallest common denominator that can ensure a consistent user experience, and with consumers experiencing upward of 20,000 ‘micro-moments’ every single day, they are worth prioritizing. Popular examples cited included the Facebook ‘like’ symbol which has become so popular it has morphed into the social network’s logo and adorns its’ campus signage.

Relationship Rule #11:  Serious about improving client relations? Build a client experience protocol playbook
Nat Slavin, Deborah Knupp and Dawn Michalak The Experience Lab concluded with a panel discussion with Nat Slavin, Deborah Knupp and Dawn Michalak focused on best practices, tips and advice when it comes to relationship building between law firms (and other service providers) and their clients. The most practical take-away that really any firm can implement was shared by one of the panelists. Based on her extensive experience working with law firms and CEOs on building better relationships internally and with clients, Deborah Knupp suggested that companies establish a client experience protocol – a playbook of sorts – designed to differentiate a client’s experience with your company. She suggested 7 playbook 'chapters':

  1. Client feedback: Are you asking for/getting feedback from your client at all times? Create a culture of client feedback and highlight the “voice of the client.”
  2. Creating the client intake ‘wow’ factor’: Once the ‘ink has dried’ on a new relationship, what can you do enhance the client experience and make your client feel good about their business decision?
  3. Know your clients’ business: What do you do to know your client business? Panelists mentioned companies like UPS or Waffle House who invite their outside counsel to deliver packages and work the line at the restaurant to get a better feeling for their business and culture.
  4. Crisis protocols: Do you have a protocol for reaching your clients during a crisis and vice versa, similar to a BC/DR plan for client communications?
  5. Client appreciation is vital: Keep track of personal milestones and go the extra mile when it comes to appreciating your clients. For example, an associate at Foley & Lardner hand-delivers books for his clients every Christmas based on topics they have discussed throughout the business year.
  6. Client communication: Keep clients in the loop and tell them what you want to meet about beforehand. Consider using live chat on your site to answer simple questions.
  7. Streamline the billing and invoicing experience: Nat Slavin cites the client invoice as the “single best marketing tool you have”. Show as much as possible to prove value.

Relationship Rule #12:  Don't overcomplicate the simplicity of communications, with your internal clients and well as your external ones
This was really my personal takeaway after partaking in nearly two days of relationship 'games'. It's all about communicating … consistently, professionally yet candidly and in an unbiased fashion. For many legal marketers this starts internally. What is the relationship between you, your marketing group and the attorneys? Do you have their ear? Do they have your back? Do they even know what you do? Can you relate?

While being able to answer all of these questions might not be realistic, they should lay the groundwork for an open, honest dialog and the realization that all of you, regardless of title, pay grade or accomplishments, are dedicated to the same cause … top notch client service based on meaningful relationships.

 

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