Legal Tech 2013 has just finished its second day, and as usual, it's a big show with all the latest technology. Hundreds of vendors are represented at Legal tech, and there is quite a diversity of products. There are general technology products, everything from routers to printers, and a ton of legal specific time management, billing and contact management products. There are translation services for international legal actions, and even japanese language document management (but not Chinese?). However, the majority of products, services and tools were focused on... Ediscovery.
Given that this is the fastest-growing segment of LPO, that's not surprising. The biggest trend in products and services at Legal Tech is that the products are all tunring into services. Last year too, Ediscovery tools were the predominant tools in the showroom, but last year it was a pretty even mix of cloud-based services and software you installed (and managed) in your environment. In the 2013 show, just about every product was cloud-based, or had a cloud-based option or is about to have a cloud service.
The evolution from providing a software product to providing a service was a natural progression for just about every vendor. Clients wanted "more" without necessarily saying what "more" was, and conversation to a service merely requires putting their product into the cloud (often on Amazon Web Services), and they're of and running. Strangely, while they all agree that they are providing a completely managed vendor service, very few are calling themselves (or think of themselves as) outsourcers. Cloud provider seems... less encumbered by preconception.
Tomorrow is the big closing session where we're going to find out a bit about the coming round of cyber threats. Pretty good information to know if you plan on ding business in the cloud!