T oday, legal and compliance leaders are increasingly investing in a myriad of technology solutions to manage risk and facilitate the business’s digital transformation. There are several innovations in the tech marketplace to watch in automation, analytics, artificial intelligence, and other emerging technologies. Legal departments need to automate where possible to improve efficiency and lower response time. VLAs, or AI-powered chatbots, are positioned to automate the legal processes, reducing response time and the need for human interaction. To fill the gap in legal departments between those who have knowledge of legal matters and workflows and those who understand technology, organizations are recruiting dedicated legal technology experts. As legal technology experts play a key role in improving legal departments’ performance, the demand for legal service and consultancy providers has increased. Moving forward, the organization will fix the fragmented structure of third-party risk management by implementing a unified view of risks. Having said that, organizations are also using automation effectively to support departmental scale and meet stringent regulations.
As many of these trends are set to nurture the marketing industry’s growth, CIO Applications has compiled a list of leading legal tech solutions and services providers at the top of their game. The enlisted organizations are transforming how legal processes are carried out at the convergence of several disruptive technologies. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you CIO Applications’ “Top 10 Legal Tech Consulting/Service Companies 2020.”