Should law firms bring innovation to their clients or is it a client’s responsibility to push innovative technologies to their firms?
Last week our President and CEO, Michael Hewitt, flew to NYC to attend a vTestify sponsored Cowen Group Dinner at the Ocean Prime restaurant and lounge linked here: https://www.linkedin.com/feed/update/urn:li:activity:6422813340862545920.
Attended by high-level individuals from global companies such as AIG, Barclays, MasterCard, Paul Weiss, Winston & Strawn, to name a few; This dinner was about innovation, technology, and the responsibility of implementing change.
On the corporate side, most companies are interested in innovative solutions to lower costs and leverage technologies but want their outside counsel to utilize the best solutions to win their matters. On the other hand, the law firms have processes that have been in place for decades if not longer and, unless they identify a systemic issue with the said process, will continue on their proven path unless their clients request a change. With both sides waiting for the other to lead this dance what changes can we expect?
According to David Cowen, the dinner’s organizer and host, one of the key takeaways from the dinner was:
Corporate counsel overwhelmingly wants their outside counsel to co-create and drive innovative ideas and make increasingly significant investments in people, process and technology that drive innovation and increased value.
What are your thoughts on the matter, should corporate clients identify innovative changes and move to implement these methods for their cases or should the firms themselves promote and drive the adoption of new technologies and process improvements? Please leave us a comment below and let us know.