Epiq Announces Five New Capabilities for ‘Metrics That Matter,’ the Industry’s Most Comprehensive Legal Business Intelligence Solution
- Law Firms
‘Metrics That Matter,’ central to Epiq’s Legal Service Management, is delivered from the Epiq Service Cloud
NEW YORK – March 21, 2023— Today at Legalweek, Epiq, a global technology-enabled services leader to corporations and law firms, announced five new capabilities for Epiq’s ‘Metrics that Matter’ Legal Performance Management Solution that make it easier for legal departments to deliver intelligence and meaningful insights across siloed data sources and augment that data with the legal intelligence within the Epiq Service Cloud.
“Epiq offers the legal industry’s most comprehensive set of legal business intelligence analytics optimized with advisory services to help clients gain valuable insights in one easy-to-use and deploy platform,” said Roger Pilc, Epiq Legal Solutions President and General Manager.
Launched in 2021, the ‘Metrics that Matter’ Solution is the capstone of the Epiq Legal Service Management framework for actionable insights and legal performance management for modern legal teams.
- Single Sign-On (SSO) access via Epiq Access: ‘Metrics that Matter’ is accessible via Epiq Access, the ‘front door’ to the Epiq Service Cloud, which enables team members to leverage a SSO solution to access all their applications, reports, dashboards and analytics, work requests, and more, streamlining their workflow and increasing efficiency. Epiq Access provides an additional layer of security to sensitive data creating the ability to secure dashboards by user.
"We are thrilled to make ‘Metrics That Matter’ accessible via Epiq Access, which now has more than 15,000 users,” said Shah Karim, Epiq’s Legal Solutions Chief Technology Officer. “The legal market has embraced Epiq’s vision to simplify and digitally transform the work of corporate legal departments. The rapid adoption of Epiq Access demonstrates the need for a unified and secure gateway platform to access legal business services, software, and data-driven insights to help clients get to the outcomes they seek in the easiest, most efficient, and most effective way possible.”
- New Practice Area Lens Dashboards: Hyperion Research’s 2022 benchmarking survey of Legal Operations professionals found that 63 percent of Corporate Legal Departments have formal metrics and analytics programs, but only 9 percent have metrics that are well-defined, curated, and have audience-specific dashboards. ‘Metrics that Matter’ now offers new practice-level dashboards for contracting, regulatory and compliance, litigation, legal operations, and M&A. This integration offers a 360-degree view of the legal department: a comprehensive solution for legal operations performance management, providing real-time insight, benchmarking, and comparative analysis to help organizations achieve their goals.
“The new ‘Metrics that Matter’ capabilities announced today make it even easier for General Counsel and Practice Directors to rapidly gain real-time context as they make business decisions,” said Eyal Iffergan, Epiq’s Managing Director of Global Legal Business Advisory Services. “We’re committed to helping our clients gain visibility into not only the veracity and cleanliness of their data, but in creating context for their data so legal teams can move beyond understanding what has happened in the past, to eventually being able to model possible outcomes.” Iffergan was awarded the Lifetime Achievement Award in the 2023 Legalweek Leaders in Tech Awards.
- An Expanded 300+ KPI catalogue aligned with organizational objectives: ‘Metrics that Matter’ takes an advisory-driven approach that empowers clients to quickly focus on the highest value KPIs for the business by delivering actionable insights. Clients gain access to Epiq’s extensive KPI catalogue with both foundational and advanced metrics across financial, operational, service performance, outcomes, and risk management KPIs for every legal persona. Epiq’s KPI catalogue is backed by Hyperion Research legal intelligence, benchmarking, and performance data allowing clients to track key industry ratios benchmarking legal departments against industry best practices.
- Epiq’s 100+ proprietary Legal Natural Language Processing (NLP) models automatically classify data into distinct categories: ‘Metrics that Matter’ now delivers deeper insights with Epiq’s proprietary Natural Language Processing techniques that synthesize information, eliminate data silos, and rapidly identify data gaps delivering deeper insights into data.
- Epiq’s eDiscovery clients on Epiq Access now have access to additional Litigation end-to-end Management dashboards: Epiq’s eDiscovery clients can now access additional ‘Metrics that Matter’ Litigation Practice reports that allow litigation teams to track key outcomes for Litigation activity at the matter level, leading to lower risk, cost efficiency, improved decision-making, and greater success in litigation matters. Client reporting in Epiq Access now includes new dashboards for Technology Assisted Review and Review Metrics. Plus, the expanded Spend History report now includes a comparison of spend versus budget.
“Epiq’s Litigation management dashboards address the need clients are focused on – the ability to have an end-to-end view of their eDiscovery workflows and the cost savings realized by utilizing AI and data analytics to derive better outcomes," said Eric Crawley, Epiq’s Senior Vice President of Product Management & Advanced Solutions. “Clients need more than baseline Litigation reporting. They need solutions that accelerate their internal adoption of AI while minimizing risk. Epiq’s ‘Metrics that Matter’ solutions are uniquely capable of providing the breadth and depth of information required by the business.”
See Epiq at Legalweek 2023 booth #2107 to learn more about ‘Metrics that Matter’ and Epiq Access. Discover how these solutions can drive performance and suggest process improvement.
- To request a ‘Metrics that Matter’ demo visit the Metrics That Matter Landing page.
- Learn more about Epiq’s Legal Services Framework.
- Learn about Epiq Service Cloud and Epiq Access.
Epiq, a global technology-enabled services leader to the legal industry and corporations, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action, and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.
Epiq, Director of Communications