Digital White Papers

52 WWW.ILTANET.ORG | ILTA WHITE PAPER KNOWLEDGE MANAGEMENT Law Firms Harnessing the Power of Data Un-siloed data sources in a data lake or data warehouse. Streamlined and nimble workflow to collect data passively and manually throughout the entire lifecycle of the maer. A "filing cabinet" to store contextual maer data. Good partners today include Foundation Soware, IntApp and Umbria. External feeds of public data to round out the client maer details. At Baker Donelson, key players for data included Thomson Reuters, Bloomberg, CCH, PacerPro and Fastcase. An easy access point for lawyers via enterprise search. Key leaders in this space include Handshake, used at Baker Donelson, and RAVN. 1 2 3 4 5 This creates a single platform for data location, which aids in pricing, staffing, budgeting, RFPs, risk analysis, legal spend analysis and much more. Imagine a partner pitching a new maer. The partner goes to the intranet, accesses the enterprise search, looks for similar past maers, selects all options and uses them to create a potential budget and risk factor listings. A lawyer could use such a search platform to understand motion win or loss records against a specific opposing counsel or to estimate how long it takes a judge who has overseen similar cases in which the firm was involved to make a ruling. The data store concept creates this environment and much more. Keys to Implementation There are many challenges to building an online digital library or using the data store concept to gain insight into clients and maers. First, you must work with the right providers to renegotiate all research contracts; you are looking for a new type of contract that will accommodate the needs of the lawyers within the firm. Second, you must have a solid enterprise search system in place. This system must be nimble and flexible with connection capability and a user interface/user experience (UI/UX) that lawyers can easily follow. When these key parameters are in place, data can become the most important differentiator for the law firm's future. Why Do This? There are many benefits for both lawyers and clients in implementing these concepts. Lawyers see a seamless legal research process and consistent searching experience for both books and

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