Legal process outsourcing is a billion-dollar industry with fierce competition and inherent risks due to its sheer way of functioning. Disaggregation at its core, LPOs help its clients to find critical things, cutting through exponentially vast and complex data. Over the years, the LPO ecosystem has evolved a lot. It has been adopting technology advancements fast.
Midst of all this, LPOs have their own set of challenges. Delivery schedules are tight. Valuable resources are hard to come by and hard to retain. Managing confidentiality is a critical issue that might endanger LPO’s very existence. In legal discovery work, many tasks are still manual and repetitive, prone to human errors.
At Ellicium, we have developed a text analytics platform for analyzing text data from various sources. While contemplating how this platform can be used for various business domains, we stumbled upon LPOs with many documents to analyze.
Our research revealed that many LPOs monitor many legal websites to know the latest verdicts or compliance changes. These changes are then downloaded as documents and classified as per objectives. All this happens manually!
While talking to LPO industry leaders, we found a dire need to automate this process. After extensive research, development, and understanding of the legal domain, we developed a solution for the automation of legal discovery using artificial intelligence. The tool includes monitoring legal websites, automated downloads, identification of important changes, and document classification. It automates the whole process of monitoring, downloading, and classification.
I did extensive research on how LPOs are leveraging automation.
This discussion posted by the American Bar Association caught my attention. Taking a cue from it, it is evident that automation of repetitive tasks done by lawyers is essential so that they can focus more on important things.
Our recent implementation of this solution at leading KPO would save 85% human effort, resulting in multi-million-dollar cost savings over a 3-year period. Just imagine the possibilities LPO or, for that matter, the legal domain as a whole can achieve by allocating this 85 % saved resource to things that matter.
Features and benefits of our Legal Discovery Automation Tool
Man, replacing the machine is a clichéd and skeptical approach. I believe automation boosts humans to exhibit their capabilities where it matters most. In the same spirit, Ellicium’s legal discovery automation tool is capsulated to empower lawyers. Inspired by the same, I strongly feel that automation is as important as lawyers for LPOs to utilize their potential fully.
The team at Ellicium is currently in the process of demonstrating this solution to leaders in the legal data and discovery domain. Does it interest you? Get in touch! Just leave your thoughts in the comment section.