November 14, 2016
Today, legal departments serve the key business purpose of managing risk and, consequently, seek a more business-friendly approach with outside counsel. Their expectations have become more value driven – vs. traditional results-oriented— which emphasizes the need for a collaborative approach between legal departments and outside counsel.
October 14, 2016
I have always been a big fan of Baskin-Robbins ice cream — not just because the product is insanely delicious, but also because the ice cream franchise’s 31 Flavors tagline tells you exactly what to expect. Yes, choosing from 31 ice cream options is daunting, but somehow manageable. It never scared me away or made me feel like I was leaving so much amazing ice cream behind.
Although the link between big data advances in the legal space and ice cream might be a mighty stretch, there’s a parallel. When I first started investigating big data applications within law firms and corporate legal departments about five years ago, the flavor of the day was primarily “vanilla” — a one-note, safe choice of internal and external, structured and unstructured data exploration.
August 18, 2016
A survey by legal information services provider Mitratech showed that corporate law departments spend $1.5 billion annually in the US on 11 types of software—from matter management to compliance to legal analytics – in a market with a $6.5 billion potential.
August 12, 2016
In the past year, Mitratech has made five acquisitions as it expands its suite of software products beyond those traditionally available to corporate legal departments, such as time keeping and matter management, and into the compliance and risk arena.
August 9, 2016
Legal software company Mitratech’s latest white paper, Value and vulnerability: a guide to better relationships with outside counsel, has highlighted how some in-house teams are choosing to seek a more business-friendly approach with firms, to properly manage risk and increase value.
August 5, 2016
In today’s highly regulated business environment, the corporate secretary plays a critical role in managing an organization’s risk. Risk for an organization today can range from mismanagement of legal and other documents to non-compliance with numerous ever-changing business regulations.
August 4, 2016
Hitec Laboratories, a Slough-headquartered governance, risk and compliance (GRC) software provider, has been snapped up by Texas-based Mitratech. The purchase of Hitec is Mitratech’s fifth in the past year and the second major acquisition in the GRC market, following its takeover of CMO Software in June.
August 3, 2016
While U.S.-based technology companies at large continue to consider what the U.K. Brexit could mean for future expansions into Europe, Mitratech Holdings Inc. recently stepped into the confusion with two U.K.-based technology acquisitions, Hitec Laboratories and CMO Software. Matt Stamp, a partner at Acuity Advisors Ltd. and advisor to Hitec during the acquisition, says that the recent acquisition is part of a trend that hasn’t suffered as greatly as many predicted in the wake of the stunning Brexit vote.
August 2, 2016
Mitratech, a provider of legal, compliance, and operational risk solutions, has acquired Hitec Laboratories, a governance, risk, and compliance (GRC) software provider.
August 2, 2016
Mitratech, which in February acquired eBilling startup Viewabill, has bought governance, risk and compliance (GRC) software provider Hitec Laboratories; its fifth acquisition of 2016.
Hitec has traditionally been most active in the financial services, commercial and public sector but counts law firms including Berwin Leighton Paisner (BLP) among its recent clients.
August 2, 2016
Austin-based legal software maker Mitratech is continuing its buying spree with the purchase of a UK-based company, its fifth acquisition in the past year.
Mitratech said it has purchased Hitec Laboratories, which is based in the United Kingdom and has U.S. offices, for an undisclosed price.
With Hitec Acquisition Mitratech Continues to Build Momentum in IT, Finance, and EH&S Risk Management Markets
August 2, 2016
On August 1, 2016, the Austin, Texas headquartered enterprise legal management solutions provider, Mitratech, announced it had acquired Hitec (Laboratories), an information, policy and risk management provider. Neither party has disclosed the terms of the transaction. At the time of acquisition Hitec Technologies had approximately 40 employees spread across its Slough, UK headquarters, as well as Swansea, UK software development centre and sales office in Boston, Massachusetts.
August 1, 2016
Mitratech Holdings Inc., a developer of legal software, continued its acquisition strategy by buying its second British company so far this summer.
Austin-based Mitratech has acquired Hitec Laboratories Ltd., a maker of governance, risk and compliance software. Financial terms of the deal were not disclosed, according to a Mitratech announcement.
August 1, 2016
The past year for Mitratech has been one acquisition after another; the company says it has made five M&A deals in the past 12 months alone. And these acquisitions have not been all in one sector either, with Mitratech expanding further into the enterprise legal management (CaseTrack), time and billing (Viewabill), and governance, risk and compliance (CMO Software) spaces.
July 29, 2016
I spoke with Jason Parkman, the CEO of Mitratech, an enterprise legal management software provider that helps corporate legal teams reduce their costs, collaborate, and increase their visibility.
July 12, 2016
In keeping with legal technology’s recent trend toward integration and collaboration, Mitratech released a new version of eCounsel, its enterprise legal management portal, incorporating access to its popular e-billing product Collaborati.
June 24, 2016
The future of enterprise legal management (ELM) may be coming sooner rather than later, but for many ELM providers, the question remains of exactly what tools the all-encompassing ELM solutions should entail. For Mitratech, the answer to that question has resulted in a series of acquisitions, and now, the company is moving further into the governance, risk, and compliance (GRC) space.
June 23, 2016
Mitratech Holdings Inc., a developer of legal software, has continued its acquisition strategy by buying a London-based company, its fourth targeted buyout in the past year.
June 22, 2016
Enterprise legal management meets governance, risk and compliance under Mitratech’s worldview, which just got bigger with its acquisition of CMO Software and its environment, health and safety compliance SaaS.
May 26, 2016
As legal departments are expected to meet new challenges with existing staff and existing budget, increasing the efficiency and productivity of staff while controlling legal costs through the use of technology has been increasingly embraced. Today’s in-house counsel can utilize technology in innovative ways to make the best use of their time possible.
April 28, 2016
“Last month Legaltech News and The Recorder announced they were teaming up to judge this year’s Innovation Awards—a Who’s Who of the legal tech industry collectively moving the needle forward.”
March 16, 2016
“Austin-based Mitratech bought No Surprises Software Inc., the developer of software and mobile apps designed to monitor attorney billing in real time, for an undisclosed amount, according to a Mitratech news release.”
March 11, 2016
“’Market-leading legal departments are seeking more than just basic e-Billing solutions – they are looking for ways to enable inside and outside counsel to collaborate efficiently through multiple avenues,’ said Jason Parkman, Mitratech CEO.”
March 10, 2016
“For attorneys working in corporate legal departments or law firms, the combination of Viewabill’s innovative technology with Mitratech’s industry-leading platform for e-Billing and spend management has the ability to transform the way these groups work together,” Jason Parkman, CEO of Mitratech, told Legaltech News. “This combination makes it easier for everyone to understand what’s happening during the billing cycle long before the invoices are processed, which eliminates surprises, fosters collaboration and leads to better outcomes.”
March 10, 2016
In a nod to the growing importance of legal spend management, Mitratech announced Wednesday it has acquired the e-billing company Viewabill on undisclosed terms.
February 26, 2016
For Legaltech 2016, Mitratech continues to offer legal departments a simplified and customizable user interface (UI) to manage matters and documents. The new version 4.1 puts eyes on legal spending, such as the top 50 invoices, the highest invoicing outside counsel, year-over-year fiscal comparisons, and the status and costs of matters by department and practice group. It also lends ears to legal departments to listen for business users requesting legal services through self-service portals.
February 26, 2016
Jason Parkman, CEO of Mitratech, told Legaltech News that the market potential is “based on what spending on legal department technology would look like if all law departments invested in technology over the next five years at the same spend levels as those who have already invested.”
February 26, 2016
A new report finds that corporate law departments spend an estimated $1.5 billion per year on legal software, and predicts explosive growth in this area in the next few years.
February 22, 2016
Workloads at law firms and legal departments will soon be unmanageable as lawyers are forced to produce more for less if they do not leverage technology, research carried out on the US has revealed. With the market for legal software now worth $15.9 billion annually, the survey found that legal departments were spending about 25 per cent of what they should be – $1.6 billion in a market worth $6.5 billion.
February 19, 2016
Law departments spend nearly $1.5 billion each year on legal software — it’s nothing to sneeze at, but with general counsels taking on more work, the legal technology market is underpenetrated and poised for growth, according to a new report.
February 17, 2016
While adoption of various legal technology solutions is still minimal, especially in smaller legal departments and law firms, the forces impacting the market will require that law firms and legal departments leverage technology in frequent ways in order to manage their increasing workload. Mitratech CEO Jason Parkman recently sat down with Inside Counsel to discuss the implications of the survey and the best ways for corporate legal departments and law firms to develop a legal technology roadmap.
February 16, 2016
Based on its survey, Mitratech estimates that the total potential spend, or total addressable market (TAM) for corporate counsel is $6.5bn. While currently e-Billing and matter management comprise the largest spend on corporate legal software ($202m and $195m respectively in 2015), contract management looks set to overtake that spend over the next five years, with a growth rate of 17% to $346m between 2015 and 2019. Governance and compliance software is forecast to grow by 16% to $270m in that period.
February 2, 2016
Lawyers don’t always cut the most sympathetic figures, but spare a thought for campus law teams that increasingly find themselves caught in a full-court press: squeezed on one side by budget cuts and on the other by a growing mountain of regulatory requirements. It’s enough to make a legal eagle buy a comfort beagle. Or, in the case of the University of Alabama system, invest in a new enterprise legal management system (ELM).
January 14, 2016
According to Mitratech CEO Jason Parkman, who recently sat down to talk with Inside Counsel, as legal departments are increasingly asked to do more with less, improving the efficiency of legal staff and reducing costs are critical goals for many general counsel.
“In order to further enable general counsel to deliver on these goals, leveraging service providers to manage the entire legal bill review process has resulted in considerable cost savings and allowed in-house legal staff to improve their productivity,” he explained.
January 6, 2016
“The number one barrier for legal departments [adopting tech] is lacking endorsement from a leader with the vision to realize that the deep visibility, efficiencies, and accountability our legal technology provides will truly create more value, not just for the legal department, but for the entire organization. In our experience, the critical success factor that is a constant when legal departments experience full adoption of our legal technology solutions is having executive sponsorship from a [general counsel] that has a vision for what he/she wants to achieve, defines the metrics that will measure the success of that vision, and puts in place a process that will ensure the team is aligned and accountable for achieving that vision.”
December 21, 2015
As general counsel deal with the challenge of boosting performance while reducing costs, legal billing review has become a critical element in maintaining the efficiency of a legal department. In order to further enable general counsel to deliver on these goals, Mitratech, a provider of enterprise legal management (ELM) solutions, has selected legal service provider Elevate as a certified partner to offer legal bill review services to Mitratech’s fast growing client base.
December 14, 2015
After 30 years in the enterprise legal management market, Mitratech is now offering a stand-alone contracts management solution through its GettingContractsDone (GCD) product. Originally developed as a partnership between the Association of Corporate Counsel (ACC) and Bridgeway Software, GCD was in incubation status until Mitratech acquired Bridgeway earlier this year. Now, Mitratech has fully launched GCD and expanded its investment in the growing contract management market by tripling the resources focused on GCD.
December 7, 2015
According to Mitratech CEO Jason Parkman, one of the biggest efficiency blockers is that in-house legal teams don’t have the metrics in place to be able to measure team performance effectively.
December 3, 2015
This article briefly summarizes five of the ten ways to transform your legal department, but download the whitepaper to read all of the best practices and tips from leading legal departments and industry experts.
November 25, 2015
Mitratech’s chief executive Jason Parkman has published a comprehensive ‘10-steps guide’ for corporate legal departments that he promises will “transform your legal department from a company cost center into the best-run business unit in the organization.” Corporate counsel are increasingly looking to embrace technology, generate revenue, and manage their risk exposure and brand, particularly in the face of the rise of internet exposure and social media.
November 24, 2015
Talk to any general counsel about their law department for more than 10 minutes, and a familiar refrain starts to arise: “We need to function more like a business.” It’s an all-too-common reality of the post-recession world: Law budgets are not what they once were, and in order to counteract the increased strain placed by changing regulations and new responsibilities, corporate law departments need to find efficiency.
November 24, 2015
According to Parkman, there are many strategies that can be developed, but ultimately, if a law department wants to create a competitive advantage, they have to understand what the business priorities are, ensure that the lawyers understand those drivers, and develop a vision for success that aligns to the business goals.
November 9, 2015
According to Mitratech CEO Jason Parkman, the in-house lawyers who are most successful at applying analytics to the way their department operates are the ones who approach the endeavor with an eye for detail.
October 2, 2015
“Leveraging the power of legal analytics drives tremendous value for legal departments seeking to improve their overall performance,” explained Jason Parkman, Mitratech CEO.
September 28, 2015
Certification will allow Mitratech clients to use Sky Analytics in the benchmarking and assessment of legal spending.
September 16, 2015
Mitratech has had a busy couple of months with mergers and acquisitions, first acquiring Bridgeway Software in July, then acquiring CaseTrack from Economic Analysis Group in August. September brings another change, but this time it’s behind-the-scenes, as TA Associates, a leading global growth private equity firm, has agreed to make a strategic majority investment in the company.
August 28, 2015
The Austin-based Mitratech, a provider of enterprise legal management solutions, recently announced the acquisition of the CaseTrack product line from Economic Analysis Group – its second acquisition of a solution provider in the past two months.
August 25, 2015
Austin-based Mitratech revealed Tuesday that it acquired CaseTrack software from Economic Analysis Group Ltd. The software manages data and electronic billing for legal departments. Financial terms of the deal were not disclosed according to a company announcement.
August 24, 2015
Just one month after acquiring Bridgeway Software, Mitratech has once again made a major acquisition in the enterprise legal management space. Mitratech will acquire the CaseTrack product line from Economic Analysis Group (EAG), the company announced on August 24. With the acquisition, Mitratech’s client base expands to over 750 clients, including more than half of the Fortune 50 and almost 40 percent of the Fortune 500.
August 19, 2015
In their latest issue, the International Legal Technology Association’s publication, Peer to Peer sat down with Mitratech CEO, Jason Parkman. Among other topics discusses, Parkman spoke about how corporate legal departments can move up the company value chain, and become the best run organization in the corporation.
August 7, 2015
Having a deep-pocketed parent has helped the Austin software maker make much larger deals to fill in its product line.
August 4, 2015
On July 7, 2015, Mitratech announced its acquisition of rival enterprise legal management (ELM) provider Bridgeway Software. While financial details of the acquisition were not reported, the acquisition represents significant inorganic growth for Mitratech, nearly doubling its customer base and expanding its offerings for government agencies and corporate information management. For the most part, the acquisition is not about functionality as much as go-to-market strategy. Notably, Mitratech will largely continue to offer, support, and develop both its own and Bridgeway’s existing products as independent offerings, despite large areas of redundancy. Rather than consolidate product lines, Mitratech will align the various ELM solutions within its portfolio to various sub-segments of customers, including large enterprises, government, and the emerging mid-market for legal management solutions.
July 27, 2015
Getting Contracts Done (GCD) hits that elusive sweet spot where simplicity and customizability intersect. GCD…fully integrates into Microsoft Office so users can remain in an app environment with which they’re already familiar. Administrators have a little more to learn, but even for them, implementing and customizing GCD is a walk in the park compared to some of the other contract managers I reviewed yet doesn’t lose functionality or flexibility. With marks like those, Getting Contracts Done was an obvious choice to be one of our two PCMag Editor’s Choice winners in this roundup.
July 23, 2015
It appears that hackers don’t take the summer off. From the U.S. Office of Personnel Management to online dating site Ashley Madison, cybercriminals have been proving that they will go after just about any sort of target that holds people’s personal data. At the same time, regulators have been trying to fight back—particularly in the European Union, where new rules on data protection are emerging that may be finalized as early as the end of this year. Although these regulations are European, many U.S. companies that do business in the EU and work with customers and employees there will still have to worry about complying.
July 22, 2015
I had the privilege of moderating a full day of panel discussions on legal operations at Legaltech West for Mitratech. The eight participating panelists shared insights and best practices while offering a virtual roadmap that many law departments can use to thrive. From metrics to management and technology to talent, the influence of legal operations is transforming the way in-house teams operate.
July 15, 2015
Given the number of massive breaches and other privacy-related issues taking place globally, there are new policy initiatives in the works, particularly in Europe. The proposals reflect the new reality found in companies as far as data privacy. “Legal and IT departments can no longer view data privacy concerns in a silo or as the responsibility of just one department. Data privacy programs should be proactively developed and managed as a holistic and comprehensive enterprise initiative,” said Jason Parkman, CEO of Mitratech, in a statement. Currently, security and privacy law are made up of “directives that have created a convoluted patchwork of laws,” according to a white paper from Mitratech, a legal management solutions provider, entitled “A 6-step Health Check for your Organization’s Data Privacy Program.” The white paper explains that such a directive can be interpreted and enforced by individual states.
July 14, 2015
Vista Equity Partners, one of the most active deal makers in the space, raised $5.78 billion for its fifth fund. This year, Vista bought a majority stake in Mediaocean for about $720 million, and its portfolio company Mitratech also bought Bridgeway Software.
July 8, 2015
Legal management software solutions provider Mitratech has acquired Bridgeway Software, in a move that would double its client base.
July 8, 2015
Mitratech Holdings Inc., a legal department software maker, has acquired a Houston software maker. Austin-based Mitratech bought Bridgeway Software Inc., according to a Tuesday announcement. The acquisition of Bridgeway gives Mitratech 300 new clients, nearly doubling its total to 600 corporate and governmental customers, the company said. Mitratech, which was founded in 1987, employs 170 workers of which about 100 are based in Austin, a company spokeswoman said.
July 7, 2015
Two major players in the enterprise legal management (ELM) ecosystem are joining forces. Mitratech announced today the company has acquired Bridgeway Software, expanding its customer base by more than 300 new clients. The financial terms of the deal are not being disclosed. With the acquisition, Mitratech’s client base now includes nearly 600 corporate and governmental entities, including more than 30 percent of the Fortune 500—along with almost 10,000 of their external partners, including 99 of the Global 100 and 100 percent of the AmLaw 200 law firms, company officials said.
July 2, 2015
With countless data sources to keep track of, it’s almost impossible for general counsel to consume it all and make the critical decisions needed. How exactly do they do it? Legal analytics and benchmarking become increasingly important tools for the office of the General Counsel these days. In fact, enterprise legal analytics go beyond legal spend data to capture the most relevant and actionable legal management information. In recognition of legal analytics as a key component of a GC’s strategic leadership toolkit, Mitratech, a market-leading provider of Enterprise Legal Management (ELM) solutions, recently introduced its Certified Legal Analytics Partner Program. In addition, HBR Consulting, formerly Hildebrandt Baker Robbins, a globally recognized as legal business operations and technology consulting firm, earned the first analytics certification from Mitratech with its CounselCommand product.
July 2, 2015
Since the financial downturn of 2008, the “cost center” law department has been more closely aligned with business goals, with an increasing expectation that the general counsel should have the same kind of business intelligence tools and analytics that are becoming the norm in other areas of the company such as finance and IT. As more in-house law departments look to redefine themselves as “profit centers,” investment in legal analytics and enterprise legal management is becoming a bigger part of the general counsel’s war chest. With this in mind, Mitratech recently launched its Certified Legal Analytics Partner Program, which certifies partners that meet specific criteria in the area of legal analytics.
May 27, 2015
Legaltech News today announced the finalists of the 2015 LTN Innovation Awards, which recognizes outstanding achievement by legal professionals in their use of technology. In addition to recognizing law department and law firm leaders, LTN has also selected finalists across 20 vendor categories. Best Case/Matter Management System Bridgeway Software Mitratech Holdings’ TeamConnect 4.0 Lexicata Best Collaboration Tool Accellion kiteworks Litera IDS Mitratech’s Lawtrac Self-Service Portal Opus2 Magnum
May 14, 2015
Bloomberg BNA recently conducted this interview with Jason Parkman, CEO of Mitratech, about data security and how law ﬁrms, and companies, can best protect themselves and their clients. BBNA: What’s at stake for corporate clients whose sensitive data is hacked? Parkman: What’s at stake is regulatory scrutiny, extensive ﬁnes (especially as we look at international ﬁrms divulging corporate secrets), and the loss of personally identiﬁable information to name a few things. Not to mention intellectual property, which is in many ways the core value of so many companies these days. The stakes are tremendously high which is why you see data protection and data privacy is-sues in the news so frequently. If you have the ability to lose, potentially, hundreds of millions of dollars in direct ﬁnes, as well as intellectual assets and the trust of your clients and the public, I’d say pretty much everything is at stake.
May 14, 2015
In-house legal departments across the pharmaceutical industry are being asked to manage ever-increasing risk and compliance challenges, as well as increasing litigation costs as cases increase. In fact, it has been estimated that 2014 saw a 25 percent rise in patent cases – a critical driver of corporate revenue given that generic manufacturers that win patent cases can take over 65 percent of a pharmaceutical’s revenue base – and they win an estimated 70 percent of the time. At the same time, these legal departments are facing pressures familiar to all legal departments, regardless of industry: lowering overall legal spend and evolving from a company cost center into a strategic business partner. These requirements mean that the department has to do more with less, while increasing visibility, predictability, and responsiveness.
May 12, 2015
Technology plays a huge role in our day-to-day lives, and it’s tempting to try and leverage technology to make our lives—and jobs—better. But how can in-house lawyers use technology to drive transformation in their legal department? A panel at SuperConference 2015 strove to answer that question. The panel, “Using Technology to Drive Transformational Performance in Legal Departments,” was moderated by Jason Parkman, CEO of Mitratech, and featured Ryan Harding, associate general counsel, legal operations and administration at Exelon Business Services; Shari Wilkozek, lead counsel, global sales and sales operations at Motorola Mobility; and Sasha Morozoff, client partner, Technology & Services Practice at Axiom Law.
May 8, 2015
In order to protect critical information, corporate legal teams must leverage buying power and technology to holistically strengthen the data ecosystem. The management of information within an organization is paramount to the success of data security efforts. That being said, accounting for data that has been circulated outside the protective ramparts of an organization’s policies can be a difficult undertaking. The legal department utilizes an ever growing roster of third-party vendors and law firms to conduct day-to-day operations, and it must be ready to press those organizations to maintain high standards in regard to how sensitive data is handled.
May 1, 2015
Jason Parkman, CEO of Mitratech, a provider of enterprise legal management solutions based in Austin, Texas, says that companies should take advantage of the data they have to help make decisions about the management of legal matters, including litigation. He recommends comparing the expertise, time management skills and case results of staff attorneys against outside attorneys to determine cost effectiveness. Some of Mitratech’s clients, which include six of the 10 largest property and casualty carriers, have found that in some cases they received the same result with staff attorneys at half the cost. The carriers now use staff attorneys exclusively for some matters unless the case is likely to reach a certain liability threshold or for another strategic reason.
April 22, 2015
In the 2015 legal market, the prevailing “buzzword” just might be disruption – every event and symposium seems to have a theme focused on it, from LegalTech to the Stanford Future Law Conference. But what are the most significant forms of disruption? And how can lawyers embrace it to improve their businesses? While new technologies will continue to emerge, the 2015 Winmark Looking Glass Report found that more than a quarter of all legal departments still have no technology budget at all. Ultimately, what’s most important is whether legal departments are capitalizing on leveraging both technological and non-technological innovation to accelerate quantifiable results for their organizations. Based on discussions with our clients, Mitratech has identified six sustainable innovations that show how legal departments can embrace disruption and create business value.
April 16, 2015
In-house legal departments are being asked to manage ever-increasing risk and compliance challenges, as well as increasing litigation costs as cases and claims increase. At the same time, these legal departments are facing pressures to lower overall legal spending and to evolve from a company cost center into a strategic business partner, driving real value to the organization.
April 16, 2015
General counsel are expected to push for better standards of cyber security in law firms – as the risks they are exposed to when passing documents between them are likely to increase, according to Mitratech.
April 15, 2015
The growing differences on data privacy between the U.S. and Europe are turning the subject into a highly politicized matter that is impacting corporations at every level, and in particular the office of the general counsel. Whether you consider former NSA contractor Edward Snowden a hero, a traitor, a patriot or a whistleblower, he has permanently changed the information privacy landscape. His revelations have opened the public’s eyes to one of the hottest topics in the information privacy landscape: data seizure.
April 13, 2015
Corporate law departments under pressure to cut costs may be the main driver behind a revolution in the provision of legal services, but when it comes to innovation they may be hamstrung by their own lack of budgets to pull it off themselves.
April 2, 2015
If you aren’t sure whether enterprise legal management (ELM) services are a worthwhile endeavor for legal departments, look no further than ELM solutions provider Mitratech. The Austin, Texas-based company recently announced several record-breaking figures proving that more companies are adopting legal technologies in the face of material risk and cost reductions.
Compliance as part of an Enterprise Legal Management strategy: An ounce of prevention is worth a pound of cure
March 18, 2015
The office of General Counsel, especially those in large global enterprises, has placed a great deal of focus in recent years on improving the value received for their legal dollar. They have implemented legal management solutions, like matter management, that help them manage and measure the effectiveness of their legal efforts, and make better decisions about how to manage certain types of matters. They have implemented e-billing solutions to help them gain better control over their sometimes significant spend with outside counsel. And they have used these integrated solutions to help them manage the very mix of internal and outside counsel efforts. Through these investments, GCs have made significant strides in managing their “ex post” legal challenges.
March 4, 2015
The adoption of enterprise legal management is on the rise as legal departments seek to streamline legal processes, analyze risks and reduce legal spend. In this roundtable conversation, Marcus Hartmann, general counsel for RB (formerly known as Reckitt Benckiser) and Jason Parkman, CEO of Mitratech, discuss trends in enterprise legal management, the tools it provides users and the increased controls brought to legal departments using this technology.
March 3, 2015
When it comes to companies in which he wants to invest, Warren Buffett looks foremost for what he has called “durable competitive advantage.” This means having a fundamentally superior position to the competition — defensible over time against all reasonable threats, both internal and external. He likens this position to a castle, replete with battlements and surrounded by a broad moat. Among the departments of an enterprise, the legal department is often viewed as a necessary cost of doing business: an overhead organization for dealing with contracts and IP management; an expert coordinator of legal actions and procurer of vendors; or an administrator of claims, disputes, and other unhappy business realities. Viewed from this perspective, the highest aspiration for general counsel is to be maximally efficient, responsive to needs, and operating with reasonably predictable costs.
Thought Leadership Spotlight Presented by Mitratech: More than Just a Cost Center: Legal Operations as Key in Creating Competitive Advantage: Jason Parkman, CEO, Mitratech
March 2, 2015
Mitratech CEO Jason Parkman described how a legal department can help an organization gain a competitive advantage during a Thought Leadership Spotlight Presented by Mitratech at the 2015 Chief Legal Officer Leadership Forum in New York on Feb. 19. In his presentation, “More than Just a Cost Center: Legal Operations as Key in Creating Competitive Advantage,” Parkman pointed out that a legal department can deliver positive brand awareness and reduce corporate risk.
February 24, 2015
Corporate legal departments are happy to use enterprise legal management—also known as “practice management” to lawyers of a certain age—for the unsexy stuff: managing invoices from outside counsel, studying legal budgets to see where the dollars go, tracking regulatory enforcement, etc. There is a theory, however, that looking more deeply at the data in ELM might help compliance officers responsible for that other acronym, GRC. Since legal spending and data are so often rooted in some governance or compliance concern, the thinking goes that perhaps ELM can help inform corporate leaders trying to make better decisions about compliance and risk management.
January 30, 2015
Legal departments are facing multiple challenges. At many companies, the amount of litigation continues to increase, there are more regulations with which they must comply, and cost for outside counsel likely is increasing. But legal budgets are probably not getting pushed up to meet these changes. That has led many in-house legal departments to bring more work back to their internal team and to have a greater commitment to being economical with the resources they do spend.
January 21, 2015
As organizations seek new ways to centrally manage and obtain greater visibility and predictability in legal spend, a growing segment of solution providers is emerging to offer analytics and reporting capabilities that provide organizations with deeper insight into billing and matter data. By offering greater visibility into trends and benchmarks in total cost, attorney performance and sources of waste, these vendors help improve spend and vendor management decisions.
December 10, 2014
Our independent panel of judges – Melissa Davis, Jobst Elster, David Gilroy, Kim Tasso and Kate McKittrick – have cast their votes and we now have our winners for the Legal Industry Video Awards 2014. Here are the winning videos in each of the eight categories plus links to the runners-up. CATEGORY 4 : Vendor Training & Educational Video of the Year – The video – Connecting the Legal Department – by Mitratech is our third animation to win a category and the company uses it to explain how its systems can help GCs and in-house legal teams.
October 2, 2014
I spoke with Jason Parkman, the CEO of Mitratech, an enterprise legal management software provider that helps corporate legal teams reduce their costs, collaborate, and increase their visibility. He noted that, “We are in the middle of a shift in how legal departments see themselves,” and we discussed the top three best practices they should implement today to position themselves for success in the future. They include:
- Recognizing that technology is a force multiplier.
- Becoming a data driven organization.
- Focusing on continuous improvement.
September 18, 2014
It is the governing board’s obligation to assure that clarity and effectiveness are brought to the general counsel/compliance officer roles and relationship.
September 9, 2014
A new survey finds the legal department’s role in compliance is more likely to increase than decrease.
September 10, 2014
Legal departments now have primary responsiblity for the enterprise compliance function in 40 per cent of organisations, research conducted by Mitratech has highlighted. The research found that the role of Chief Compliance Officer and General Counsel has become more tightly entertwined and legal departments are staffing up to meet these compliance needs.
August 28, 2014
Steven M. Greenspan of United Technologies Corporation and Frank Orzo of Mitratech Holdings, Inc. break down the usefulness of a matter management system.
June 25, 2014
As the needs of the legal world change slowly over time — with new compliance requirements and intellectual property challenges among two of the movers of this change — the technology required to deal with these developments also alters. Recent products in the searchable patents market aim at making e-discovery a more manageable process for businesses. Legal management software that meets the needs of a business’ compliance standards, while maintaining secure communications, is vital.