Markets on the move

As reported by alm, Legaltech group Litera is acquiring industry leader Kira, effective Sept. 1 of this year. The product and brand are to be continued, and at the same time Litera is aiming for market expansion. Why and to what extent can this also be significant for Europe?

Kira is a specialist in AI-based automated document analysis. Main use case is due diligences / data rooms in transactions. Accordingly, Kira's customers are mainly law firms, globally.

Litera, which has grown enormously through numerous acquisitions, describes itself as a leading provider of legal workflow and workspace software. The focus is clearly on speed and effectiveness of legal work towards client service and retention. Litera sees itself as one-stop-shop for any type of legal work. That's why Litera aims to leverage Kira's core expertise in its own software suite. 

The big difference, however, is that Litera also operates in the corporate law market, and by spinning off its own new startup Zuva, Kira is also expected to follow this path in the future.

Consultants on both sides of the Atlantic won't be too happy to hear that.

What remains of Covid-19?

Recently, an interesting discussion took place on the topic of "What remains of Corona?" from the perspective of specialist information providers. There were predictable, but also surprising opinions. Here's a quick look. 

#1 Information Behavior. Those professionals who have "digitized" their information behavior in the now almost 1 ½ years since the Corona outbreak will stick with it. This is especially true for the use of cloud services; those who have given up their reluctance will not want to miss the benefits.

#2 Meeting culture. Participants did not draw a clear picture. If one wanted to draw a succus, it might be that virtual meetings will always remain when distance and duration play a role. Pure status meetings could also remain digital. On the other hand, it is safe to assume that meetings in which personal contact plays a role will be held in real life again as soon as possible. (The hospitality and tourism industries will thank you).

#3 Education and training. A similar trend is drawing here. Hardcore continuing education may remain digital; events that are more about face-to-face contact, such as conventions, will become real again.

#4 Home Office. This is where there was the most discrepancy. One discussant expects his employees to remain largely in home offices, and has already initiated a large-scale reduction in office space. Another managing director, also from the trade publishing industry, maintains individual offices for all her employees and has no thoughts of giving up direct personal contact.

Conclusion: General trends are not apparent; individual conditions and cultural aspects are the drivers. Also, all opinions mentioned reflect the German situation; trends in other countries and cultures may vary significantly.

Justice by app?

 

One topic that comes up again and again in the course of the home office discussion (see last week’s article "Home or Office?") is that of fairness in the distribution of work. Specifically, it is a matter of the assumption that those practitioners or assistants who are available on site are disproportionately assigned to acute tasks.

 Of course, one could argue that the opposite would also be logically justifiable: after all, there are supposed to be managers who basically assume that employees in the home office contribute little or nothing to the company. Consequently, these superiors would then assign a disproportionately large amount of work to home office employees. However, we don't know.

 A new software product wants to clear up this lack of knowledge. It is called Capacity and is intended to bring transparency to the workload of employees.

The assignment status of the employees integrated in Capacity can be viewed at any time via a dashboard, and unfairness can be prevented. Even more, employees can grab jobs that interest them, which, according to Capacity's founders, should lead to increased employee satisfaction.

Capacityapp.io is still in its beginnings, but in any case it is an interesting initiative to eliminate possible irregularities in the distribution of law firm work.

Home or Office?

 

The decline in the number of infections throughout Europe has many dreaming of a "normal" life again. A "green passport" should soon allow us to travel, which everyone is happy about, except the (frothing) data protectionists. But what does this actually mean for the professional lives of lawyers? Here's a quick overview:

Hardcore #1 - back to the office. The legal profession has not been home-office friendly in the past. Under the dictates of immediate action, it is said to be best for all lawyers in a firm to be on-site for as long as possible each day. Those who think this way will grasp the next opportunity to call all employees back to the workplace. It is questionable whether they will willingly follow.

Hardcore #2 - no office anymore. Revolutionary minds among advocates are pursuing this path: there is no longer an office in the traditional sense, only conference rooms are provided in central locations. Advantages and disadvantages are obvious: maximum cost savings for the employer, highest possible flexibility for the employees - but where is the corporate culture?

The middle ground. Cultural issues are probably one of the reasons why the majority of firms aim for a percentage solution: 50:50. 60:40, 40:60 - a minimum of two days per week at the workplace is probably a must. The problem with this is that average solutions only ever suit a small proportion of the workforce! Home office, for example, is particularly attractive for childless midagers,  if they are suitably equipped and can work undisturbed. If the opposite is the case, it is hell if it is mandatory. The stability of the client relationship also plays a role here. However, the question of training and further education of younger colleagues is particularly sensitive. Some advice from an experienced colleague fails to be given due to a casual encounter, not to mention picking up information and knowledge by chance.

In view of the general uncertainty about the development, real estate agents advise law firms against premature changes. There is really nothing to add to this.