Last week, Fernando Garcia, VP Legal and General Counsel for Cargojet, wrote an opinion piece for Canadian Lawyer Magazine. His article, Controlling costs is part of lawyers' mandate, spoke to the duty of in-house and external counsel to keep costs down.
The focus here is on that 10 to 15 per cent of the low-complexity, labour-intensive work that cannot be sustained or performed efficiently by law firms. Not only is this work the most likely to be usurped by legal technology, but there are also service providers that can and should be doing this work instead of the law firms.
Written by: Fernando Garcia for Canadian Lawyer Magazine
Cost containment is one of the greatest challenges facing law firms and in-house counsel alike. What drives costs up most frequently in litigation settings is the cost of data management and document review. However, these concerns are often, as Mr. Garcia states, “low-complexity [and] labour-intensive” components of litigation that “cannot be sustained or performed efficiently by law firms.”
At Ricoh, our goal is to provide analytics and machine learning-based solutions that significantly reduce the cost and time associated with conducting this labour-intensive work. Utilizing advanced technologies and highly-skilled review services teams composed of lawyers and technical experts can reduce by as much as 70 per cent the costs associated with these processes. As Mr. Garcia summarizes correctly: “Using an outside-service-provider or legal technology to do the for less money is not just a cost saving but a professional obligation.”
Drawing from real-world examples, our team shared how incorporating AI technology into your process can help you perform more timely, cost-effective and streamlined document reviews — all while avoiding the pitfalls that can often occur in traditional document reviews.