P2P

56 P E E R T O P E E R : I L T A ' S Q U A R T E R L Y M A G A Z I N E | S P R I N G 2 0 2 1 the client based on better data; and automated approaches to remediation of the repapering on a risk-based approach. Whether it's a repapering exercise or M&A due diligence grunt work, this work becomes more predictable and less risky for the client, and the knowledge workers have time for higher value analysis of opportunity, risk, and more agile strategies to support the outcome of the review. Leverage platforms to enable an ecosystem of innovation. Use of platforms enables in- house groups to apply the same technology to different specific use cases, and to share best practices with a broader community. Platforms also can provide built-in capabilities, such as access and security, sharing and collaboration, process automation, and reporting, which can enhance the overall impact and business outcome. Platforms will, of course, differ in how they are utilized. Large firms take advantage of platforms by building expertise in-house and deploying over and over, improving as expertise is gained. Alternative Legal Service Providers take advantage of platforms to find repeatable patterns of work from their client base and build processes and expert resources on top. Legal startups gain market share by building value-add apps on top of existing platforms, thereby enabling higher value outcomes. There are many instances where innovative legal tech vendors and inside IT departments can build on other platforms. An example of this would be remediation of issues found in review, where working with deal room and process-based providers allows them to focus on what they are expert in. They are able to layer custom process efficiencies on top of the platform, AI, and document access levels. Technologies like process, document automation, and data visualization all can work with the core platforms for data, documents, and secure metadata – as well as "AI as a service"– to avoid building costly infrastructure and to innovate quickly. It's helpful to paint a slightly more detailed picture of what the above looks like. Remediation of issues found in review can be done in an automated way using document automation and e-signatures fed by the data from the review. Better data will find more risks in the contract set, leading to opportunities for knowledge workers to add value or pitch for additional work. The data from a platform for, say, knowledge work or eDiscovery could be fed into any number of analytical tools from Excel, to CLM (contract lifecycle management), to risk review products. The data from these reviews is hugely valuable to the population of F E A T U R E S "Legal startups gain market share by building value- add apps on top of existing platforms."

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