The Evolution of Matter and Legal Spend Management By Onit November 17, 2016 Business Process Management,ELM 2 Minute Read Onit has spent decades studying what’s worked for other legal corporate legal departments to develop enterprise legal management (ELM) solutions that are flexible and easy-to-use. In our eBook, “Matter and Spend Are Just the Beginning: A Guide to the Enterprise Legal Management Paradigm Shift” we outline the evolution of these solutions. Today, ELM systems are in use among 20% of legal departments and that number is expected to rise to 50% by 2020 according to Gartner. As the pace of business increases, legal departments find themselves required to provide a wider range of services with less resources and time. At the same time, data breaches have become more common and the risks associated with them have gone up a great deal. These and other trends conspire to create an environment where robust ELM solutions are required. But do the big players in the field offer solutions that really respond to those needs? Today, companies require in-house counsel to accomplish much of what outside counsel was entrusted with in the past. In decades past, a semiannual process may have been sufficient for the small internal legal staff with a focused set of responsibilities. As internal teams get bigger and the scope of work grows, old processes tracked on Excel spreadsheets or rudimentary databases no longer fulfill the team’s needs. On top of falling short on tracking and data storage, these solutions either do not include process enhancements that are slowly becoming standard or will require a significant ongoing development investiture that a company may not be able to afford to maintain. With 15% of legal teams using homegrown solutions, (on top of a third using none at all and another third claiming they “don’t know,”) the true value of intelligent ELM will continue to become more pronounced as the gap between early adopters and those left behind grows…. Click here to download the eBook and read more. Onit is the industry leader when it comes to Enterprise Legal Management (ELM). Our solutions are flexible, lightweight and easy-to-use. Click here to schedule a demo with one of our ELM experts. Today's Popular Post Business Process Management The Next Steps for DEI in Legal: A Conversation with JusticeBid Read More Business Process Management The Power of Intelligent CLM: Leveraging AI to Optimize Contract Management Read More Business Process Management AI (+CLM): It’s Not Just a Buzzword Read More Subscribe Today Sign up for updates on new posts from our blog. Related Readings Business Process Management The Next Steps for DEI in Legal: A Conversation with JusticeBid Read More Business Process Management The Power of Intelligent CLM: Leveraging AI to Optimize Contract Management Read More Business Process Management AI (+CLM): It’s Not Just a Buzzword Read More Thank you for subscribing!