Australia-Technology

 

In a January 2018 survey by The Consero Group, 69 percent of legal operations professionals said their legal technology infrastructure did not meet their needs. In the same survey, respondents rated managing legal technology their number one priority for the next 12 months—outranking cost control, cybersecurity, litigation management and more.

As they plan to surmount their dissatisfaction with legal tech, these legal operations professionals—and their lawyer colleagues—would be well-versed to expand their horizons down under: Across the Pacific Ocean, the Australian legal tech community is thriving, and law firms and legal departments worldwide are benefiting from Aussie innovation.

Indeed, Australia has a thriving ecosystem of legal tech companies, from startups to mature global technologies. Some are already well-known brands within the industry; others await their big break. Together, we joined forces in 2017 to create the Australian Legal Technology Association, a community designed to encourage information-sharing and collaboration. ALTA now comprises more than 40 legal tech organizations, working together to build the presence of Australian legal technology on the global stage.

The continent that brought the world Google Maps, airplane “black box” recorders, wi-fi technology and ultrasound scanning now is revolutionizing the delivery of legal services, with RFP automation, virtual deal rooms, AI-assisted workflow, legal department intelligence and more.

Legal Department Priorities, Australian Legal Tech Solutions

In the 2018 State of Corporate Law Departments, a publication compiled by the Corporate Legal Operations Consortium (CLOC), Acritas and Thomson Reuters, legal departments identified their team's major priorities. Among the top responses:

  • Controlling outside counsel costs: 76 percent;
  • Using technology to simplify workflow and manual processes: 41 percent;
  • Safeguarding internal data security: 41 percent;
  • Improving legal operations: 30 percent; and
  • Allocating work to law firms that are proactive in showing their value: 29 percent.

ALTA members' solutions to these very real needs were on display at our organization's first-ever transoceanic Demo Day, hosted by DLA Piper in San Francisco on October 26:

  • Outside counsel costs can be monitored and systematized with Persuit, an application for outside counsel management and proposals;
  • Department workflow and processes can be automated with Neota Logic's AI-powered applications, while Contract Probe reviews legal documents in less than one minute, and Lexico creates routine paperwork, such as work orders, client contracts and employee forms;
  • Internal data security can be ensured in corporate and commercial transactions with thedocyard, a cloud-based deal space that brings together investment bankers, corporate counsel, law firms, corporate advisors and more in a private platform; and
  • Legal operations can be analyzed, streamlined and tracked with Xakia, which eliminates guesswork about a team's capacity, capabilities and cost.

These companies, like most ALTA members, are not strictly designed for Australian use; we all have embraced the U.S. market and most already serve a significant American clientele.

As Stuart Clout, thedocyard's founder and chief legal officer, told Legaltech News at Demo Day, “A lot of our Aussie businesses are finding our place in the world, and that place in the world is heavily centered around the United States market. … There's going to be a lot more of this, Aussies bringing their tech over here.”

How to Engage

To be sure, Australia's legal tech boom is part of a larger tech surge. Through September this year, our publicly traded information technology sector has risen in value by about 20 percent—more than double the growth in the U.S.-based Nasdaq, according to the Australian Broadcasting Corp. The province of South Australia recently pledged $80 million toward supporting new businesses, attracting venture capital and bolstering its broadband network.

Meanwhile, the city of Melbourne has launched a marketing campaign to lure businesses from Silicon Valley; it includes advertisements on buses and coffee cups, as well as promotion of a new direct flight to and from San Francisco. One of its key talking points: Given time zone differences between the U.S. and Australia, your Australian partners can be working for you while you sleep.

How can your legal department best evaluate and partner with Australian legal tech?

Start with a legal tech roadmap: Recall the statistic that nearly 70 percent of legal operations professionals said their current technology solutions don't meet their department's needs. That's harrowing given the investment of time and money that goes into legal tech. Before shopping for new solutions, consider your department's challenges and goals, then prioritize. (If you need help getting started, there's a template here.)

Head to a trade show: While online buying guides can be a good place to start, head to a Corporate Legal Operations Consortium Institute or the Association of Corporate Counsel's Annual Meeting for the chance to see software in action. You don't have to travel too far; an increasing number of international legal tech companies are getting involved in stateside events. These gatherings give you a chance to take a live demo and ask questions.

Know we're a safe choice: While it's true that our programmers can be working while you're sleeping, many Australian legal tech shops also have operations in the U.S.; you can be assured of customer service on your schedule (and help when you need it most). We also have created our software solutions with international security demands in mind—ask us about our security protocols, just as you would with any U.S. provider.

Follow ALTA: Our organization shares news and events from our 45-member community on our website, on LinkedIn and through Twitter.

 

Jodie Baker is the Founder and CEO of Xakia Technologies and the Deputy Chair of the Australian Legal Technology Association. She may be reached at [email protected].