The Rising Prominence of Cloud DMS

The use of externally hosted systems is a hot topic in today’s legal technology world.  Once considered a non-starter, there is an emerging openness to the use of systems and data residing outside of the traditional “behind the firewall” infrastructure model.  The change in approach has followed the broader business technology trend towards more efficient and effective use of external infrastructure available through Cloud-based and SaaS systems.  Document management has followed a similar course with a keen interest in law firms and corporate law departments evaluating these new models.
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SNEAK PEEK: Value, Priority and Investment in Legal ECM

Hyperion Research is preparing to release our MarketViewTM Report: Document Management Systems for Legal, updated for 2015.  As a high priority solution area, DMS is critical to how legal professionals create, manage and use their work product. Our coverage focuses on core document management capabilities, with a view of the broader context that clients are seeking from solutions that address the array of specialized content management needs, including structured and unstructured content.
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Despite Broad Adoption of DMS, Challenges Persist

Document management systems (DMS) are well-recognized as one of the highest priority solution areas for law firms and corporate law departments.  DMS sits at the core of how legal professional create, manage and use their work product, and how they collaborate among colleagues, clients and outside partners.  Representative of its importance, our research has shown that DMS is relatively well-established in both law firms and law departments.  Almost 80% of legal organizations report that they are using some form of system-based DMS; of DMS-enabled organizations, 65% report that at least half of their professionals are using the system.
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Enterprise Information Management for Legal

The role of information management has taken center stage as a critical IT issue facing legal practice management.
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Global E-Billing: Global Access and Data Privacy

Every step of the e-billing process, regardless of region, must be controlled through a combination of transport-level technologies and process-level controls. E-Billing programs must provide security against data vulnerabilities, including between physical and logical processing process steps. Suitable security related measures must be employed to ensure that trusted processes cannot be compromised.
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Global E-Billing: Implementing Technology for Global Compliance

Three core requirements—authenticity, integrity, and legibility—help us to establish a basic global e-billing framework for a compliant legal e-billing system.
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Global E-Billing: A Challenging Regulatory Environment for International Invoicing

Outside of North America, the e-billing process—that of creating, submitting, auditing, correcting and approving invoices—is subject to much more stringent regulatory and reporting requirements. This is most associated with Europe, where legal electronic billing (“e-Billing”) falls under the broader regulatory rubric of either the United Kingdom or the Model European Union electronic invoicing.
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New Solution Models Evolve for ELM

As the role of General Counsel and the law department have changed, so, too, has the solution market evolved.  As the market expands, the ELM solution providers have developed new approaches to serve the needs of a multifaceted market.
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Dynamic Sourcing: Creating a Multi-Source Enabled Environment

Most corporations have well-established capabilities in multi-sourcing. While lagging their functional colleagues in the adoption of multi-sourcing, the law department is now quickly catching up.  Nearly half of Global 1000 law departments reported that they have implemented Shared Services Centers (SSC); with an additional 25 percent having evaluated them (see Fig. 1).
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The Growing Importance of Legal Technology

The business-aligned model of Enterprise Legal Management requires a more sophisticated IT infrastructure. It also requires an improved attitude about the integration of technology into the day-to-day operations of the corporate legal function.  Traditionally, law departments have been reticent to adopt the use of technology. However, as both the operational demands and a generational legal management changeover occur, we see attitudes and expectations about the role of technology shifting.
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Insights

MarketView: IP Management Systems