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How can legal departments effectively overcome escalating legal spend and increased workloads with the same or fewer resources and without the right technology?
Today, legal departments are expected to run as efficient business units within an organization. This means that department goals need to align with company goals. When a need arises for a particular software or service, a proper business justification must be made that demonstrates the outsized benefit to the company in terms of cost efficiency and/or risk mitigation. Legal are being pushed to be more creative and flexible. Those focused on operational maturity are attempting to move away from reactive “firefighting” and are embracing a more strategic and proactive approach to legal management.
Success in any market condition demands innovative strategies from legal teams to address these formidable challenges. This involves the proactive management of costs and the cultivation of robust partnerships with business stakeholders to synchronize legal objectives with broader company goals. This allows in-house legal teams to survive and flourish in any market scenario while offering their organizations vital legal support and protection.
With legal tech investments surging 48% in the past year, the legal industry acknowledges the indispensable role of technology in today’s legal practices. Half of in-house lawyers said they would only join a company with legal technology already in place, highlighting the growing importance of technology in legal departments. In-house legal departments stand at the forefront of this shift, leveraging state-of-the-art technology to enhance efficiency, increase productivity, and address the multifaceted legal challenges with greater agility and insight.
As legal professionals grapple with the increasing demands for cost-efficient solutions in today’s dynamic legal landscape, Casepoint emerges as a strategic ally, providing a comprehensive platform that optimizes legal processes and lowers legal spend in three key ways.
3 Ways Casepoint Optimizes Legal Processes for
Cost Efficiency
1. Unified Data Discovery Platform
Casepoint’s unified data discovery platform serves as the cornerstone for legal professionals navigating the complexities of the eDiscovery process. This comprehensive solution consolidates every stage, from initiating legal holds to the final review and production. The unified nature of the platform eradicates the need to juggle multiple applications and engage in manual file transfers. This streamlined approach minimizes the risk of errors and significantly enhances overall efficiency. Owned and managed by in-house teams, the platform provides complete control and flexibility over the eDiscovery process. Legal teams can seamlessly track and manage the entire eDiscovery lifecycle within a single, user-friendly interface, empowering them to focus more on the strategic aspects of their cases rather than grappling with disparate tools and interfaces. Even if an in-house team lacks resources, Casepoint offers easy ways to lower data volumes while ensuring outside counsel can efficiently utilize the platform — resulting in lower legal spend.
2. Automated Legal Hold and Custodian Management
Casepoint’s automated legal hold and custodian management feature revolutionizes how legal teams handle the crucial process of preserving data. This automated solution simplifies ad hoc and manual procedures associated with legal holds across different departments and roles. By automating communications, notifications, and custodian management, the platform ensures that critical data is preserved securely. This not only saves valuable time but also fortifies the defensibility of the legal hold process. Automated custodian management guarantees that legal teams can efficiently oversee and administer legal holds, enhancing compliance procedures and allowing professionals to allocate more time and resources to strategic elements of their cases.
3. AI-Powered Review and Advanced Analytics
Casepoint distinguishes itself by integrating cutting-edge AI technology into its eDiscovery platform, specifically through the CaseAssist suite. This addition is not an optional “add-on” but a fundamental component provided at no additional cost. The AI and advanced analytics suite acts as a game-changer in the review process, revolutionizing the speed and effectiveness of legal discovery. With CaseAssist, legal professionals benefit from AI-powered analysis, gaining invaluable insights that facilitate the identification of relevant information. This transformative technology doesn’t just enhance efficiency; it fundamentally reshapes the review process, thus helping legal departments increase cost efficiency. Moreover, CaseAssist is designed with ease of use in mind, ensuring that legal professionals can quickly adopt and integrate AI into their workflows. Casepoint also offers comprehensive training and support to promote adoption internally and with outside counsel, so users can leverage the platform’s full capabilities.
Better Legal Spend Management Starts Here
As exemplified by Casepoint’s innovative solutions, investing in advanced legal technology goes beyond immediate gains; it sets the stage for long-term benefits. The evolving landscape of legal services necessitates a forward-thinking approach to adopting technology, and Casepoint offers legal professionals a guide to skillfully navigating this landscape. By embracing these technological advancements, legal teams ensure efficient litigation cost management and position themselves as pioneers in delivering value and innovation.
Not sure how to get started? Our Enterprise Discovery Maturity Model offers a valuable framework. This model helps organizations assess their current eDiscovery practices and identify areas for improvement, paving the way for more efficient and effective workflows. Notably, the model emphasizes the role of advanced technologies like Casepoint’s AI-powered solutions in enhancing both efficiency and outcomes.
Download our whitepaper or take our assessment to explore how Casepoint can help your legal department optimize processes and enhance efficiency.
