U.S. Law Firms Implementing Technology
K&L Gates are using Elite 3E technology to optimize their data and analytic making processes easier. Norton Rose Fulbright employs an integrated SaaS solution to improve their business processes leading to a projected $12.5 million savings per annum. Baker & McKenzie utilizes eBrevia's machine learning technology which has contributed to an all-time high yearly revenue of $2.67 billion.
1. K&L Gates
K&L Gates is a top United States legal firm with over 2,000 lawyers. The firm was highly applauded in the area of compliance & technology, specifically for its "groundbreaking client-focused digital content site, K&L Gates HUB." They once used Systems, Application and Products software called (SAP). SAP is a type of Enterprise Resource Planning (ERP) software that provides customer relationship management tools. After the failure of SAP, they company stopped using it. Instead, they returned to Thomson Reuters' Elite 3E ERP software which helps to track and manage business operations and customer relations by optimizing data and processing analytics. The results are increased efficiency and easier processes that save time, money, and stress. They are also employing ERP financial modules to encourage "optimal profitability" in every financial process. Elite 3E's impacted on K&L Gates has helped them keep their "Am Law 100" ranking.
2. Norton Rose Fulbright
Norton Rose Fulbright has over 4000 lawyers around the globe. This law firm was one of the first United States law firms to use "technology-assisted reviews" in their review processes which includes from email threading, concept grouping, and continuous machine learning. This technology aims to remove unwanted information in documents before review. They also utilize an integrated SaaS solution which increases the overall efficiency of business processes, improves communication between employees, and when interacting with clients. The SaaS solution has impacted on Norton Rose Fulbright by leading to a projected savings of $12.5 million per year.
3. Baker & McKenzie
The Baker & McKenzie law firm in the United States is a trusted legal firm and is considered one of the top companies globally with 77 offices in 47 countries and 11,000 people on the staff. Baker and McKenzie utilize "key software solutions" which provide accessible and flexible support to over "1,300 daily users in 21 languages". Baker & McKenzie utilizes eBrevia's machine learning technology on a global scale. This artificial intelligence (AI) tech is deployed in areas such as mergers and acquisition (M&A), and contract reviews. This technology has impacted Baker & McKenzie's finances with the law firm posting a record global revenue of $2.67 billion under the innovations category.
To wrap it up, K&L Gates utilize ERP technology called Elite 3E to optimize their operations. Norton Rose Fulbright uses a SaaS solution to improve business and organizational processes while Baker & McKenzie utilizes eBrevia's machine learning technology.