Archive: November, 2007
Why produce just one document when you could produce a whole package? Whether you’re producing lending documents, a request for proposal, or an insurance package of certificate, schedules, wording and endorsements, sometimes you need to create a suite of documents from one consistent set of data. Done manually, document packages multiply the risk of re-keying errors and non-compliance.
With Exari groups, you can rest easy knowing that the data is captured once, then applied consistently across all documents. Even better, you can mix and match letters, contracts and PDF forms, with just the right package of documents ready to go at the end of the process.
1. As non-lawyer investors enter the legal market, they will down-size the lawyers and ramp up the systems in order to get a better return on their investment.
2. Almost no-one seems to be worried about, or have any vision for, the long term future of the legal profession.
3. The “foolhardy” lawyers who try to brush off the applicability of disruptive legal technologies are only dimly aware of those technologies and what they can do.
Like the tallow chandlers and cordwainers of old, he wonders whether, 100 years from now, people will be asking “What’s a solicitor and what exactly did they do?”
If you have any growth aspirations at all, you need to make some high risk “change the rules” IT investments. This seems to be the conclusion of a recent McKinsey study. The high risks should be calculated risks, of course. But if you don’t take them, and others do, they will out-grow and out-perform you in the long run. In fact, when you compare high performance companies with high growth aspirations against low performance companies with low growth aspirations, the high performers invest four times as much in “change the rules” IT projects as the low performers.
Even companies with low growth aspirations do better with a high proportion of medium-high risk IT investments. Although the high and low performers spent the same on high risk investments, the high performers spent twice as much on medium risk “win the race” investments (60% of all projects).