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At LegalTech® New York 2014, LexisNexis® Legal & Professional will be showcasing its innovative portfolio of legal technology products and services for research, practical guidance, litigation and practice management. Located at Booth #100, the LexisNexis exhibit covers integrated analytical, workflow and productivity solutions that drive better insights and outcomes for law firms and legal departments.
“Driving efficiency and productivity is at the core of our business,” said Bob Romeo, CEO of Research & Litigation Solutions at LexisNexis. “We have a strong and dynamic partnership with our customers and actively engage with them every day. This enables us to convert their concerns, challenges and ideas into powerful tools that transform how they do their work.
Media and analysts at LegalTech will have the exclusive opportunity to review LexisNexis® Counsel Benchmarking, the newest addition to the workflow and analytical tools on Lexis Advance®, the dynamic next-generation legal information service. Using LexisNexis Counsel Benchmarking, legal departments can benchmark matter costs, hourly rates and alternative fee arrangements against industry standards, from anonymized data based on millions of legal invoices. In combination with LexisNexis® Verdict & Settlement Analyzer, which analyzes case outcomes from the industry’s largest collection of verdicts and settlements, LexisNexis Counsel Benchmarking enables legal departments to compare the expense of litigating versus settling a matter to make more informed litigation strategy decisions and better control spend.
The new tool will launch this spring with the next release of Lexis Advance, which will be powered by leading-edge business processes and infrastructure and provide integrated access to a comprehensive portfolio of analytical tools, including Lexis® for Microsoft Office, Lexis Practice Advisor®, LexisNexis® MedMal Navigator® and LexisNexis® Litigation Profile Suite.
Three new modules of the practical guidance offering Lexis Practice Advisor, covering Real Estate, Intellectual Property & Technology, and Banking & Finance, will also be available for media preview at LegalTech. Now offering nine practice and geographical modules, Lexis Practice Advisor is an unmatched source of expert guidance and on-point legal analysis that enables lawyers to conduct transactions with greater confidence and quality. Lexis Practice Advisor is unique in its approach of partnering experienced attorneys practicing every day in leading firms and corporate legal departments with an internal attorney team to create up-to-date guidance, forms and commentary, allowing users to benefit from leading expertise, fresh perspectives, and recent trends.
Lexis Practice Advisor is among the key products in the LexisNexis portfolio that directly benefit from the company’s strategic investment in superior content and expertise. Recent acquisitions in practice-area focused offerings include Knowledge Mosaic® in the securities space, the Oxford University Press IP strategy and practice series, and the banking and compliance portfolio from A.S. Pratt™ and Sheshunoff™.
This sophisticated and comprehensive content approach is complemented by an integrated delivery strategy that allows users to readily access the information they need in the format that best suits their work stream. Alongside the tools and services on Lexis Advance is the extensive LexisNexis® Digital Library, with more than 2,200 legal eBooks, supported by an easy-to-use eLending Solution, offering new ways to access legal information.
The LexisNexis portfolio of e-discovery and litigation management solutions is driven by the objective to reduce litigation risks and costs, while increasing workflow efficiency for cases of any size. With a robust offering supporting the most critical phases of the Electronic Discovery Reference Model (EDRM), the company consistently introduces innovations to improve scalability, accessibility and further integration.
Concordance® Evolution, the next-generation enterprise review software, introduced in 2013, is now available both as installed and hosted versions, providing outstanding speed, capacity and ease-of-use. Concordance Evolution fully integrates with LAW PreDiscovery™, reducing cost, time and risk associated with data transfer. Together with the Web-enabled LexisNexis® Early Data Analyzer, this creates the best processing and review offering in the market. With the recent addition of near duplicate and email threading to its suite of electronic discovery products, LexisNexis is harnessing leading-edge tools to equip its customers with a significant competitive advantage.
LexisNexis also continues to expand the breadth and accessibility of its tools and services to litigators. Following the recent launch of the TextMap® app for anytime/anywhere access to electronic transcripts, the next version of the TextMap® transcript management software will be released within weeks, adding full text searching of annotations and exhibits, improved performance and support for larger cases. Additionally, the litigation presentation software Sanction®, will be revamped to include “zoneless” presentation technology and a completely new user interface.
What’s more, the company is preparing to disclose a new alliance that creates a unique offering that bundles LexisNexis e-discovery software with a best-in-breed on-premise cloud infrastructure. This converged infrastructure solution will respond to the need of law firms to invest in technology that is cost-efficient and flexible enough to grow with their workload. It deploys quickly and eliminates up-front investments.
A recent survey by the LexisNexis Business of Law Software Solutions (BLSS) group showed that cloud-based technology is likely to see dramatic rise in adoption among independent attorneys. Attorneys in small law firms overwhelmingly cite “mobility and freedom of access” as the primary benefit of cloud tools, describing the ability to access case and matter information from virtually anywhere and at any time.
To that end, the BLSS group will unveil a completely redesigned cloud-based tool for law firm practice management. After more than a year in testing with hundreds of attorneys, the software division will launch a new version of the Firm Manager® application. Product managers will be on hand in booth #100 to provide demonstrations of the new product, which presents simple, yet elegant features. The new product brings with it the long history of serving the legal profession, and technical resources of LexisNexis, in order to provide the ethics and security standards an independent attorney or small law firm must have.
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