A Vision for Corporate Legal Teams
Today’s corporate legal teams are faced with a variety of pressures and opportunities to transform how they deliver legal services. Pressures include the continued need to lower costs, rapidly changing regulatory and compliance environments, the need to stay in sync as their corporations digitally transform, and the complexities associated with increasingly global footprints. At the same time, more companies are embracing the potential of utilising cloud applications, corporate legal teams are pulling decision-making back in-house instead of relying on law firms to manage the legal services they are consuming, and new technology innovations are becoming increasingly available.
In our conversations with corporate general counsels, they share they are wrestling with how to purposely choose a viable path that blends their financial, legal, and cultural goals. This is why we created the Epiq Legal Service Management framework based on our vision of the legal department of the future.
This framework is intentionally simple. At the core is all the data generated by a legal department. With the rapid adoption of new technologies, many legal teams have multiple data sources and applications, creating a confusing array of disparate data sources. To turn this data into Legal Intelligence, it needs to be brought together, not in a months or in a years-long data integration process, but through modern data lakes and dashboards.
Moving out from the core, you have the available people, processes, and technologies utilised by the various teams. These components can be completely in-house or augmented by an Alternative Legal Services Provider like Epiq for scaling, cost reduction, and to take care of repetitive tasks ensuring the right work is being completed by the right talent.
Our vision for the Legal Service Management Framework is powered by the Epiq Service Cloud which provides a variety of benefits, including (1) security via single sign on access to legal applications with options such as multi-factor authentication and federated access, (2) Metrics that Matter dashboards to help teams measure and professionally manage their overall processes, including at a department, persona, or an overall General Counsel level, and (3) a digitally transformed relationship with Epiq including the ability to create work orders and monitor activities in real time.
Finally, the gray outer ring that represents the legal services, metrics and outcomes these legal teams deliver to their organisations as they take advance of the latest technology to strengthen the management of the corporate legal function.
We believe this overall framework, Epiq Legal Service Management, will empower corporate legal teams working with Epiq to deliver the best possible outcomes for their organisations.