The 2017 Leman Consulting Future of Law Event is taking place today, 30 November 2017 at the Aviva Stadium, Dublin.
Karl Chapman, CEO at Riverview Law UK is speaking about the evolution of Riverview Law – Legal Managed Services, Projects and Technology.
Some of the key points from Karl’s presentation
“Legal should be one of the best forecasters of the next three months sales in any organisation”
Karl makes the point that it all starts with data. The power of data and how this adds value to your business. There are few legal questions where the answer, the solution, is not better informed by data. For example, what are the renewal dates on our contracts? Should we settle this litigation? How do we reduce external legal costs?
Karl outlines that data is an organisations best friend; it is evidence-based, it tells a story and ultimately changes behaviours.
He likens having little or no data to being on the bridge of a ship in a fog.
“We believe that the winning formula sees a combination of deep legal domain experience and technology”
Riverview Law has seen a significant divergence in the last few years between law firms and corporate legal departments. Law firms as slow adopters of models and tools that capture data and help them tell actionable stories that increase quality, speed up decision making, manage risk and reduce costs. At the same time, In-house legal departments embracing data and technology opportunities with the zeal of the convert PRECISELY BECAUSE it increases quality, speeds decision making, manages risk and reduces costs! It enables them to do more with less at a time when budgets are under pressure and demands on their services are increasing.
Dashboards that tell a story…
Karl speaks about Dashboards which are insightful, providing at-a-glance KPI’s relevant to a particular objective or business process. Dashboards which offer a live view of the health of your business, allowing you to identify problems and opportunities as they arise, saving you both time and resources.
Platforms over Products
In Karl's view, legal needs to move away from point solutions and embrace platform-based solutions. Platforms which are scalable, no-code and easily configured. Platforms with integration at their core.
The key takeaway
"No data means no relevance. No customers. And ultimately no business!"
In a no-code configurable world don’t let the IT tail wag the commercial dog