Many mid- to large-sized corporate legal departments have adopted matter management and eBilling systems. While these systems have generally been well-received and their ingrained components used, the maturity of the technology does not always mean that legal departments are using the systems to their fullest.
The gap between the use of operational technology and technological maturity is closing but not fast enough. Here are some tips on using ELM systems to the fullest.
The dramatic shift in the legal solutions market for ELM
In 2006 the ABA noted that eDiscovery, records management and early-stage collaboration and knowledge management tools were just beginning to show sophistication. The trend toward outsourcing repetitive work to shared service centers was starting to become the norm.
In 2011 The Economist outlined the adoption of enterprise legal management systems due to the demand for alternatives to pen-and-paper record-keeping.
In 2016 The Alexander Group began to explore how law departments were using ELM systems at a faster rate, trading in-house routine work for increased efficiencies. Artificial Intelligence (AI) has led to more integrations into ELMs to help corporate law departments compete in an ever-changing market.
Factors affecting the use of ELM solutions
There are many legal and technical challenges facing in-house legal teams when using ELM systems. Legal professionals are now searching for tech solutions that help them navigate the vast amounts of data being thrown at them, as well as comply with statutory regulations about personal data.
Law Technology Today shows that Enterprise Legal Management software must integrate compliance, legal, risk, accounting and other data into a unique system that will help to maximize operational efficiencies. Considering the governance, risk and compliance involved when implementing one of these solutions, any legal department using an ELM system should search for one that helps to create a comprehensive legal ecosystem for its organization.
Future needs of ELM technologies
There is an immediate demand and need for scalable, configurable legal technology solutions that make it easier to use ELM solutions. Using an ELM system is no longer just a nice-to-have; it’s a necessity to run a corporate legal department.
The adoption of ELM solutions is only expected to increase as the constant need for agile technologies that can manage large quantities of data while ensuring compliance becomes more in demand. Users need to configure, deploy and manage their ELM systems with little corporate IT involvement.
Acuity ELM is a leader of cloud-based enterprise legal management. A #1 G2 Crowd Leader, Acuity ELM stands out for its reporting capabilities, security, integrations, ease of implementation, high firm adoption and dedication to keeping their promises of top-notch account management.
When you’re ready to see the Acuity Difference, book a free, no-obligation demo today!