Technology is key to our future as a firm, as our industry transitions from a focus on advice to solutions. But we shouldn’t just think about technology in isolation. In my view, success in the future will be founded on a combination of three things: best people, best process and best technology. My experience is that clients benefit most when we deliver on all three.
CMS has a dedicated, multidisciplinary innovation team that maintains a close watch on the global legal services market. It investigates and pilots new technologies, services and business models. Sorting hype from reality is a huge challenge given the current proliferation of legal tech and our clients’ differing needs. A key goal is to tech-enable our service delivery in ways that best suit our clients rather than us. However, innovation is not just about tech. Many client pain points might be better solved by looking at processes or resourcing.
Currently, CMS clients are benefitting from artificial intelligence solutions to accelerate contract review and due diligence as well as legal apps on particular topics and bespoke collaboration portals to share documents, knowledge and get regular matter status and fee updates. They are saving money and mitigating risk with custom automated documents and accessing specialist legal project management teams.
CMS Germany has been developing and marketing product solutions in the form of web-based applications since 2015. These applications contain legal and procedural know-how in standardised and automated form to deal with specific legal issues such as the assessment of liability risks. All products are designed as softwareas-a-service solutions and are embedded in an innovative digital business model.
Browser-based access to the applications is possible at any time, removing the need to contact a lawyer. In addition, access is not only provided to clients’ legal departments but also to their specialists. This means that the legal service is provided directly where it is needed and the legal department’s workload is lightened. The client can choose between different forms: analogue legal services, digital product services or a hybrid service consisting of analogue and digital elements. This leads to more options as well as greater transparency and saves our clients time and costs.