InsideLegal’s 2017 Legaltech NY Word Cloud (along with 7 year flashback)
Next week, a few thousand people will convene at Legaltech New York
(LTNY), part of an expanded Legalweek
format, for three days of exhibitions, networking and legal technology sessions. To give an overview of what will be covered in those sessions, we have created our 7th annual LTNY agenda word cloud, visually displaying the words/themes included in the event's agenda of sessions. Based on the information from present/past word clouds and general event buzz , here are our initial observations:
- eDiscovery ...no surprise: Over the years, LTNY has taken on a larger focus on eDiscovery as well as a larger group of eDiscovery exhibitors and the word cloud supports that. Unfortunately, this has caused a stream of established non-eDiscovery vendors to shelve their attendance at the show.
- No such thing as a free lunch: The days of free LTNY exhibit/conference passes are now over. How will this impact attendance numbers and delegate quality? I feel this will really weed out the tire kickers/"what are you giving away?" visitors.
- LegalCIO still picking up steam: Formerly the Law Firm Chief Information and Technology Officers Forum, the event aims to pack a punch with an intriguing 9 session, 6 roundtable agenda delivered by law firm C-levels, GCs and vendor sponsor executives. We have attended this event as well for the past 5 years and the sessions are impressive.
- Investigations vs. AI: According to the 2017 word cloud, it's all about investigations (how do e-discovery, analytics, cross-border regulations and information governance impact them?!). What about artificial intelligence, one of the most popular, buzz-worthy term in late 2016? [Hint: It's to the left of eDiscovery]
- What happened to the Codex start-up pavilion? Unfortunately, they were not invited in 2017. With startups rising up at unprecedented levels, these types of spotlights seem to make sense.
FYI ... the size of selected words dictates how often they have been mentioned or referenced within the agenda (aka, how popular they are). [Click on image to enlarge]
This is the seventh year we have used the event program to create a visual snapshot of the main content themes and discussion topics. How does this compare to previous years? What topics made headlines in our word clouds for 2016, 2015, 2014, 2013, 2012 and 2011? Take a look and compare for yourself...
Subscribe to InsideLegal
for LTNY updates and market information and follow us on Twitter at @InsideLegal
for timely updates.
The word cloud was pulled from the agenda located at www.LegalTechShow.com minus speakers' information and includes words mentioned 3+ times.
2016 ILTA/InsideLegal Technology Purchasing Survey Released!
International Legal Technology Association (ILTA), and InsideLegal, the insider’s guide to doing business in legal technology, today released the findings of the “2016 ILTA/InsideLegal Technology Purchasing Survey” (survey). The survey, which is distributed to all ILTA member law firms, includes detailed technology budget data; updated information on firms’ purchasing influences and patterns; legal IT department trends and challenges; and expansive sections on specific legal technology purchases – both last year’s and those planned for the upcoming year. 2016 survey findings were presented to the vendors at the ILTA/InsideLegal’s Vendor Education Program at ILTA’s Annual Conference, ILTACON, taking place at the Gaylord National Harbor, August 28-September 1, 2016.
2016 ILTA/InsideLegal Technology Purchasing Survey highlights include:
- 53% of all respondents cited increased budgets, a 12% growth rate compared to 2015. 39% of Small Firms (1-49 attys), 38% of Medium Firms (50-199 attys) and 23% of Large Firms (200+ attys) represent the increase.
- 60% of all respondents spend between 1-3.99% of total firm revenue on technology.
- 24% of respondents spend between 4-5.99% of total firm revenue on technology.
- 22% of all respondents spend between $5,001-$8,000 per attorney on technology, followed by 20% who indicated spending $8,001-$11,000. 77% of survey respondents spend less than $17,000 on technology per attorney.
- The top five technology purchases in 2016 include: desktop hardware/PCs (61%); laptops/notebooks (59%); network upgrades/servers (53%); printers/multifunctional devices (44%); and antivirus/antispam/spyware software (44%).
- The ‘next five’ purchases include: Disaster Recovery/BC software & services (41%); security/network security/security assessment (40%); Smartphones (38%); cloud storage (34%); storage area networks (SAN) and telephone systems/upgrades (both 28%).
- Microsoft Office 365 purchases increased to 16% (from 13%).
- 17% of survey respondents purchased analytics software within the last 12 months, an 11% increase over annual purchases in 2015.
- OS upgrades: 32% of all respondents are planning to upgrade within the next 12 months versus 16% in 2015.
- Cloud storage: 25% of all respondents are planning to upgrade within the next 12 months versus 15% in 2015.
- Newly added application/service areas included security awareness training services, software and content (27%); security monitoring services for the network (27%); and artificial intelligence technology (3%).
- Internet research, peer recommendations, ILTA conferences, consultant recommendations and ILTA e-Groups are the top five influences when it comes to making legal IT purchasing decisions.
OUTSOURCING, TRENDS, CHALLENGES
- 70% of all survey respondents outsource printer repair/maintenance; website design and services (69%), followed by security assessment/penetration testing services (59%).
- 11% of respondents are currently evaluating artificial intelligence technologies.
- When asked how AI will influence legal, respondents mentioned eDiscovery (71%), document automation (41%), legal research (41%), contract analysis/automation (34%), and case/outcome predictions (24%).
- According to survey respondents, most firm BYOD policies cover Smartphones (68%) and tablets (57%) with only 24% covering laptops.
- Firms’ top IT challenges include security management (67%), user adoption/lack of training (42%), risk management/compliance (40%), and email management (39%).
- 80% of this year’s respondents reported that they use outside technology consultants to assist with some aspect of firm operations, technology and infrastructure.
The entire 2016 survey report can also be downloaded at www.InsideLegal.com. For questions and comments regarding the analysis and results, please contact Jobst Elster.
ILTACON Vendors - Don't Miss out on our 13th Annual ILTA/InsideLegal Vendor Education Program
ILTACON 2016 is upon us... and another ILTACON conference also means an opportunity for us to offer a series of educational sessions to the ILTACON exhibitor community. InsideLegal has been partnering with ILTA for the past 12 years to produce the annual ILTA/InsideLegal Vendor Education Program. Below are the details for the 2016 program being held at the Gaylord National Harbor, Maryland, on Monday, August 29th. If you would like to attend, please RSVP to JoAnna Forshee with name, title, company and email address for each participant as space is limited. Below is information on the program.
What: 13th Annual ILTA/InsideLegal Vendor Education Program
When: Monday, August 29th, 1:30-4 pm (feel free to attend entire program or a portion)
Where: Gaylord National, Potomac 1 (Ballroom Level/Conference Side) [Map to Potomac 1]
Here's a detailed description of the program:
1:30-2:15p ILTA Vendor Business Meeting
This session will include an opportunity to meet the ILTA staff and Board, receive an update on conference activities, and learn additional ways to work with ILTA throughout the year.
Faculty - Peggy Wechsler, ILTA Program Director
2:15-2:45p InsideLegal Market Flash: 15 Tips for promoting your company/leveraging market(ing) resources
We know how valuable your time is on-site at ILTA, so this rapid fire session will pack in industry statistics and legal marketing information. The program will include topics such as: legal market statistics; the one thing EVERY legal vendor should do…and it’s free; where to get marketing research; stats on purchasing budgets and trends; working with the new legal media landscape; and content marketing insights. Walk away with tips, tricks and legal resources you can use immediately.
Faculty - JoAnna Forshee, InsideLegal CEO & Jobst Elster, InsideLegal Head of Content & Legal Market Strategy
2:45-3:30p Legal Media Panel – Meet the editors’ panel discussion - Moderated by InsideLegal
InsideLegal has assembled a cadre of well established and reputable legal technology editors to participate in this ever popular legal media panel session. Panelists will tell you how to work with the media to get coverage for your products/services including how to submit news, how to best pitch ideas; and best practices of effective media relations.
3:30-4p 2016 ILTA/InsideLegal Technology Purchasing Survey Release - Purchasing Trends of ILTA Law Firms
Last but not least, we will be reviewing the results from this year’s ILTA member technology purchasing survey. The report includes data from more than 200 ILTA law firms of all sizes including: what percentage of firm revenue they spend on technology; what they purchased last year; what they will be purchasing next year; did their budgets increase or decrease; what vendors gave exceptional customer service; etc. Session attendees receive a hard copy report. [View 2015 Survey here]
Faculty - JoAnna Forshee, InsideLegal CEO & Jobst Elster, InsideLegal Head of Content & Legal Market Strategy
Complete your setup early Monday and make sure to join us for the program. To reserve your spot, don’t forget to RSVP to JoAnna Forshee with name, title, company and email address for each participant as space is limited.
ILTA Law Firms' Technology Purchases Broken Down by Firm Size
At ILTACON 2015 we released the 10th annual ILTA/InsideLegal Technology Purchasing Survey which highlights the purchasing and budgeting habits of ILTA member law firms. One of the most popular questions included in the survey each year covers the technology purchases (by application areas) that participating firms made 'within the last 12 months'.
While the main survey report includes the totals for each application area, we've broken it out further by firm size and included it below in Chart and Table format. This is the first time this data drill-down has been released. You can visit our dedicated survey page for more background and details on the annual report.
The 2016 ILTA/InsideLegal Technology Purchasing Survey is currently being administered to ILTA law firm members with the results being released on Monday, August 29th at ILTACON.
Legal Leaders. Legal Winners
Spring has Sprung and so has the legal/legal IT award season. While most legal associations, related special interest groups as well as many vendor user conferences have some sort of an award program, there are a handful more than worthy of a shout out.
ABA honors Jeffrey M. Allen with its 2016 Lifetime Achievement Award
The American Bar Association Solo, Small Firm and General Practice Division honored our longtime friend, Jeffrey M. Allen with its 2016 Lifetime Achievement Award, which recognizes the efforts and accomplishments of outstanding solo and small firm practitioners as well as bar leaders and associations. Allen will receive his award at the Solo and Small Firm Awards Luncheon on Friday, May 13, during the 2016 Joint Spring Meeting.
We have known and worked with Jeff for the last 15+ years so we were more than excited to read the ABA's announcement recognizing his contributions to the legal space. Allen has been a member of the American Bar Association since 1973 and has been active in the GPSolo Division for most of that time, holding several leadership positions in the last 34 years, making him the member with the longest standing record of continuous leadership service to the division. He has chaired many substantive and administrative committees for the division and currently serves as the editor in chief of GPSolo Magazine and the GPSolo eReport. Allen also serves on the council of the Senior Lawyers’ Division and as a member of the editorial board for Experience Magazine and the Voice of Experience. Allen also served on the editorial board of the ABA Journal for six years and as a member of the ABA Standing Committee on Technology and Information Services (SCOTIS). Allen has written hundreds of articles on technology and legal practice and regularly writes for several magazines, including GPSolo Magazine, Experience Magazine, the American Journal of Family Law and the GPSolo eReport.
ACEDS awards eDiscovery visionary Craig Ball, Esq. with ACEDS Lifetime Achievement Award
The Association of Certified eDiscovery Specialists (ACEDS) recently announced the winners of the 2016 ACEDS Awards, marking the organization's second annual celebration of eDiscovery professionals and experts. The nominees, who were nominated by their peers, were all pioneers and innovators in the e-discovery industry and are dedicated and committed to advancing the profession and remaining at the forefront of technology advancements, education, and training.
Among the 2016 award winners, our legal tech friend and colleague Craig Ball was honored for his "lifelong commitment to the advancement of the eDiscovery profession." Well deserved. Craig has been an eDiscovery 'guiding light' since we've been around legal (17+ years) and even long before that. You don' t need to read his long list of accolades and credentials to quickly realize he knows his stuff. No matter how busy, he'll take time to say hello and lend his expertise where applicable.
InsideLegal's JoAnna Forshee named on ABA LTRC’s Women of Legal Tech 2016 list
In keeping with the spirit of progress, the ABA Legal Technology Resource Center recently presented its inaugural “Women of Legal Tech” for 2016. From tech founders and CEOs to small business owners, the list, with the addition of 10 new honorees in 2016, now includes 50 female legal influencers. JoAnna Forshee, my partner in crime and InsideLegal & Envision Agency CEO, was deservedly included in this year's list, further adding to her legal 'trophy case' [she was also the recipient of the 2004 Lex Proficio Award for Lifetime Achievement in the Advancement of Legal Marketing awarded by Ross Kodner and a 2015 Fastcase 50 honoree].
Upcoming legal tech awards to keep an eye on include the Fastcase 50 (July), ILTA's Distinguished Peer Awards (late August at ILTACON) and the College of Law Practice Management's InnovAction Awards (honored at Futures Conference in September).