LegalTech Strategy

Effective use of technology, particularly technology designed specifically for law departments (“LegalTech”), is critical for our clients to achieve efficiencies, adapt to evolving business demands, manage risk and ensure they have the data to make better decisions going forward. But the LegalTech market is crowded, fast-moving and clouded by hype, making it difficult to isolate and verify the right solution. And when you do choose a solution, there are many factors that will determine its success.

Our team of lawyers and technologists can help you:

  • Benchmark the maturity of your LegalTech ecosystem against your peers to provide a data-driven view of your view of your current position and optimisation opportunities
  • Better understand and articulate your user requirements
  • Analyse your existing technology stack for immediate improvement opportunities and to inform investment decisions
  • Review the LegalTech market and narrow the field of potential solutions to meet your needs
  • Assess the technical capabilities of competing vendors, including which solutions are truly leveraging technology like artificial intelligence, machine learning and blockchain
  • Make a procurement decision, including setting up and directing tailored demonstrations and then scoring vendors
  • Develop the business case to support an investment, measuring the anticipated Return on Investment
  • Create your LegalTech roadmap, including:
    • framing a LegalTech strategy aligned to your target operating model and which informs your technology priorities and choices
    • ensuring there is long-term functional cohesion in your Legaltech acquisitions (i.e. that each piece of Legaltech is synergistic)
    • providing the right sequence for acquiring, upgrading, and/or retiring LegalTech
    • ensuring your ROI is properly aggregated as you execute against the roadmap over time.
  • Testing, roll-out and implement your chosen LegalTech.

This wheel sets out some of the tools we commonly assist our clients with:

We have a particular focus on how AI can be layered into your operating model to drive automation and systemization

Discovery

Automating the discovery of legal documents within your IT equipment (finding documents) and extraction of information from legal documents.

Assessment

Using AI to automatically assess to what extent draft contracts deviate from your standards.

Mark-up

Using AI to automate the mark-up of contracts as part of the negotiation process (automated playbook application resulting in proposed language changes).

Analytics

Aggregating past negotiating positions by template clause to create data driven negotiation playbooks.

Workflow

Using AI to automate actions made in a legal workflow based on any analysis of past manual responses.

Knowledge

Automating how business queries are answered (inserting chatbots onto your knowledge bank).

Case Study

What was the challenge?

Our client, a household name logistics company, were looking to implement an end to end legal operating system. Their main objectives were to optimise visibility into matters that were being actioned by the law department, improve reporting on those matters and to leverage leverage technology for automation.

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What did we do?

We engaged with key client stakeholders to gather their requirements, mapped those requirements to the leading vendors in the market and conducted a collaborative evaluation of those vendors against the requirements. As part of this we designed the required demonstrations to be provided by vendors (rather than their standard) to stretch them and look at potential solutions through the client lense. The assessment stage included not just functional assessment, but also a deep dive on technical architecture (including information security), compatibility with legacy technology with upgrade potential and development roadmap for future proofing. Once a vendor was selected, we modelled the programme to calculate the ROI for investment sign-off and provided implementation advice.

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What was the outcome for the client?

The client was able to clarify and quantify their investment with a clear path to success.

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Contact us

Andrew Giverin

Partner, NewLaw, PwC United Kingdom

Tel: +44 (0)7990 575269

Jason McQuillen

Partner, NewLaw, PwC United Kingdom

Tel: +44 (0)7513 585596

Juan Crosby

Partner, NewLaw, PwC United Kingdom

Tel: +44 (0)7843 370546

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