CEO Corner: Serving the Underserved with Acuity ELM
How can it be that a large share of corporate legal departments is being underserved by legal tech? And on not just the product front?
Corporate legal departments from Sydney to Cincinnati are leaning toward end-to-end legal technology solutions, especially for enterprise legal management.
There are plenty of issues facing legal departments, big and small alike. They’re being handed more work on more complex matters, but are given the same (or fewer) resources. But the final bell to toll for traditional approaches to legal operations was COVID-19. Legal has been forced to pivot to new ways of working with dispersed staff, outside counsel, and stakeholders to sustain business continuity, but they’re still expected to hit their KPIs.
But in surveying the market, one thing that strikes an informed observer? How SMBs are actually underserved in terms of legal and claims management solutions. There’s a scarcity of software offerings that are designed to meet their real-world needs. Plus, when these departments do make a product investment, it’s all too common to find them getting only superficial customer support from some providers.
Due to this, SMB legal and claims teams have found themselves in danger of falling even further behind the rest of the industry on the legal tech maturity curve. This represents an opportunity for Mitratech to serve a very large segment of the legal industry, and provide the products and support that help them extract maximum returns from technologies tailored to their particular demands.
Acuity ELM: Providing partnership, not just product
To help us meet that need, we’ve made an acquisition that certainly fits the bill: Acuity ELM. Their products help legal departments, particularly small or midsized ones, manage budgets and costs, create increased efficiencies, and control outside counsel spend. But there’s also a certain quality they display that’s amazingly timely: Understanding user needs.
That’s always important, but never more so than right now. Because legal departments of all sizes are realizing that moving forward has to be about more than buying state-of-the-game technology. Smaller legal departments, in particular, need to find a solutions provider willing to help them make grounded choices and build on those to reach new levels of digital maturity.
For these smaller legal departments, their legal tech roadmap should be built around choosing tools that will generate significant, reliable, and sustainable business value for the long haul.
Those solutions must be right-sized to real needs, and supported by a provider that’s known for having an open-ended commitment to understanding customer pain points and partnering with them to reach their goals, one that supplies the same quality of service to a small first-time adopter that it does to a Fortune 500 power user.
We’re simpatico on supporting clients
If that sounds a lot like how we’ve described Mitratech over the years, then you can see why we saw eye-to-eye with the team at Acuity ELM, who operate the same way. And that’s why it’s phenomenal to be adding their products to our legal solutions portfolio.
Their solution, proven and refined over the last 20 years, provides the first and last ELM system an SMB legal department will likely ever need. It has the options and flexibility to evolve and scale with them, and its users have consistently given its support team rave reviews for responsiveness and collaboration.
All of that means it slots perfectly into our own product lineup and client-centric culture. We’re excited at being able to welcome a group of new members into the Mitratech community, and we know the Acuity ELM team has set a very high standard for us to maintain. And I also know the Mitratech will measure up to the task – and more.