LegalTech is regarded as a hot sector from an investment perspective. Barely a day goes by without an announcement of new investment or fresh M&A (see our M&A tracker). I have been in the LegalTech market since around 1998 and so you could argue LegalTech has had a good 25 year run and the market should now be very advanced. In some ways this is true. We have large stable suppliers who invest a huge amount in R&D. In many ways however the market has failed to deliver on its potential. Let me explain why. Another way of putting this is to say that there has been a huge focus on parts of the market but little focus on other areas meaning there is a lot more that could be done.

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Just a short note on our 5th Anniversary and a huge thank you to our clients, people and the other contacts we regularly work with.

It has been a phenomenal journey, most of our work is confidential but we have worked for professional services firms, in house teams, procurement teams, litigation funders, entrepreneurs, software vendors, strategic consultancies and private equity houses on what must be some of the most exciting projects and implementations in the marketplace.

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2021 is coming to an end. On 31st Dec 2021 we will have seen 652 days since lockdown was first announced by Boris. (A few reflections at 500 days can be found here). Thankfully despite lockdown being tough with a horrendous first three months most firms have had a much better year than they expected.

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Today marks 500 days since Boris announced Lockdown on 20th March 2020.

This has affected people in a wide range of ways but we thought it might be helpful to list some of the typical changes we have heard in the market and from our clients. Hopefully this will help people with their planning. In no particular order the following is a selection of what we are hearing:

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A question which we regularly get asked by law firms is “should we move to the cloud?”

First, you probably have no choice. This is the direction of travel of the IT industry and where all the investment is going. Worldwide end-user spending on public cloud services is forecast to grow 23.1% in 2021 to total $332.3 billion, up from $270 billion in 2020, according to the latest forecast from Gartner, Inc.

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Back in 1998 I was a partner and head of strategic development at a large commercial law firm. We were about to change all of our key systems ahead of year 2000. There were a lot of reasons for this, not least the looming Millennium Bug, which turned out to be more of a stumbling mosquito with barely any impact.

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