1 2 3 4 5 6 

The Future of Legal Tech: ILTACON Recap

Posted by Samantha E. Whetstone on Thu, Aug 24, 2017

The Future of Legal Tech: ILTACON Recap

by Samantha E. Whetstone / August 24, 2017

BigSquare LogoILTACON this year was an exciting, educational, and fun conference for those with a technology focus in the legal industry. The BigSquare team traveled back to Las Vegas for our 4th year as ILTA sponsors. The conference was held at Mandalay Bay, which never disappoints. It was a big year for ILTA since they celebrated the 40th anniversary of the conference. “ILTACON is the premier educational and networking event for the legal sector. Drawing on the personal and collective strengths of law firm and law department professionals, ILTACON is the best place to learn what works, what doesn't and what’s next in legal technology.”

 

First and foremost, we would like to extend a big thank you to everyone who stopped by the booth to learn about the latest release of our applications. It was great to make new connections and catch up with old friends as well.

 

The big event for us was the vendor hall opening reception. This took place Monday evening and was the first time we were able to display our booth and network with other legal  professionals. Every year ILTA chooses a theme to add a little extra fun to the evening, and this year it was the “Vendor Galaxy.” The night was a success and left us excited for the conference events to come.

 

BigSquare ILTA Booth

 

We had the opportunity to attend several sessions while at the conference to learn more about legal tech. One that really peaked our interest was “The What, Why, and How of Business Intelligence.” We were excited to learn what other professional’s thoughts were regarding BI in the legal spectrum. The session walked through key topics to give industry professionals a better understanding of BI for law firms, and we couldn’t help but share some of our thoughts!

 

What does BI mean in a practical sense? Basically, firms are leveraging their data through reports, online analytical processing, and predictive analytics. This equips them with the information to better understand their economics, which translates to better decisions, additional opportunities, and more money for the firm. If you want to be competitive in a competitive market, our blog post explains how BI can help law firms understand their economic drivers.

 

It was great to hear our colleagues opinions on the keys to selecting the right BI toolset. They outlined the phases involved and identified them as:

  1. Choosing a set of stakeholders
  2. Consider the possibility of engaging an outside, neutral party
  3. Interviews
  4. Look for common themes

We thought that this was helpful information for a firm to focus on when selecting a BI platform that is best for them. It reminded us of a recent blog post, 4 Keys to Selecting the Right Law Firm BI Tool. With the recap of this session and our four keys, a firm will be well equipped to start planning for their selection of a BI application.

 

This quote should be on your mind when looking to implement any new software, BI or not. “The least bold, worst decision your firm can make: Sticking with a solution that is not meeting your needs.”

 

It’s always good to step back and look at the big picture, and this year we saw one overall trend of many sessions and keynote speakers. Technology truly has the power to affect our jobs in the legal industry on a daily basis. Trends are emerging, and ideas breaking through. Some are unfolding now, while others are decades in the making. An undeniable truth is that many challenges in the legal sector will soon be solved. We think that this is an exciting topic and poses many questions. What are computers yet to accomplish? What advancements will legal technology experience?

 

This got us thinking, where BI is heading in the future? Firms are in search of a very pervasive and highly predictive platform, and vendors are starting to work behind the scenes to deliver the solution. They want an application that meets these needs, so vendors must put on their futuristic thinking caps. We are thrilled to see this trend unveiled.

 

The changes and breakthroughs in the industry provides both daunting challenges and fantastic opportunities. Being able to transform how your businesses operates is the single biggest opportunity we have, and the good news is technology is available to help us get there. What does the future hold? A lot!

 

Prior to arriving back to the office, we knew planning for next year wouldn’t require quite as much travel on our end. Our team is looking forward to having attendees closer to our home over on the east coast since next year’s conference will be in National Harbor Maryland. ILTACON serves as a great time to network with legal professionals and further our education in the field. This conference is always a success, and something we look forward to sponsoring each year.

 

 BigSquare is the leading provider of Business Intelligence for law firms and professional service organizations.  We focus exclusively on law firm reporting, law firm BI, law firm profitability and law firm analytics.

 

If you want more information on BigSquare or would like to schedule a demo click below. 

Learn More

 

Tags: Business Intelligence Legal BI ILTACON

0 Comments
previous post 7 Mistakes Made with Law Firm Finance & Profitability
Next Post Let’s Talk Profit