For the past three decades, the fundamental nature of corporate legal departments has evolved. As technology has improved by leaps and bounds since the late 1980s, paper case files, word processing documents, and Excel spreadsheets have given way to the enterprise legal management software solution, including matter management and e-Billing products. These solutions allow legal departments of all sizes to better manage their matters & cases, reduce legal spend, and create more secure actions within their everyday operations. But as the market has evolved, one realization has been made clear: enterprise legal management cannot—and should not—just be for the largest of the large organizations.
Hitting the “Sweet Spot”
Smaller and mid-sized organizations, for the most part, are working with valuable tools, but have nowhere near the resources a company with tens of thousands of employees have at their disposal. A large, multi-national bank would most likely be in the market for an ELM solution that is highly flexible, customizable, and modular.
Corporations in this market are starving for something to fit their full legal management needs…”
Small to mid-sized companies would be in the mark for a solution that would be quicker to implement, with out-of-the-box functionality that is still robust enough to take on some customization, so their individual business processes can be met at a fraction of the cost.
These small to mid-sized ELM solutions are not one-size-fits-all software suites by any mean though. Corporations in this market are starving for something to fit their full legal management needs, not just point solutions for document management, matter management, or e-Billing. They deserve solutions that fit their budget, but still have the ability to grow and scale as the department and business grows and matures.
The evolution of this middle market is nothing new. However, in recent years, we’ve seen more and more ELM solution providers move towards one end of the spectrum or the other—either only highly customizable solutions with big price tags or simple, out-of-the-box solutions with little flexibility. At Mitratech, we are focused on delivering purpose-built solutions for legal departments of every size and level of complexity, so that you have the right solution for your need at any point in your growth trajectory.