1、Legal Technology Update Harris Williams|Q1 2023Legal Technology Update Q1 2023Robust market tailwinds and pandemic-induced pressures have led to an increasingly competitive and digitised legal environment2Legal Technology Sector Observations and Key TrendsWith ever-tightening deadlines and increasin

2、g workloads,demand continues to grow for solutions that enable lawyers to be more effective and efficientBusiness models that seamlessly integrate technology with exceptional service support to deliver a differentiated experience for clients will garner strong investor interestIncreased focus on the

3、 user experienceGlobally,corporate legal departments are seeking to do more in-house by utilising technology,tech-enabled outsourced solution providers and temporary legal professionalsModels that address the needs of this client base have an opportunity to establish a trusted relationship with the

4、key decision-makers who direct the majority of legal spend corporate GCsNovel solutions for an evolving user baseCloud adoption is becoming increasingly urgent and accelerating across legal services There is an increasing recognition that cloud-based software has equivalent,if not superior,levels of

5、 protection with law firms realising the added benefits for remote access and collaboration,driving expansion of the legal technology spaceHigher Levels of Comfort with Public CloudThe legal technology subsector remains a highly fragmented market,lacking many all-in-one solutions law firms have lots

6、 of very separate legacy solutions that are a pain to use and never talk with each otherThe ability to develop,deliver or package multiple point solutions into a singular value proposition will be a key differentiatorBuilding a Leading All-in-One SolutionRecently,there has been a global push to stre