Affinity for legal technology among law firms and in-house general counsels has increased during this pandemic. Social collaboration platforms that have good workflows have worked well for the legal sector. Microsoft Teams and Zoom are good examples of collaborative tools that the legal industry has adopted the last year.
According to Gartner, the worldwide social software and collaboration market is forecast to total $4.5 billion in 2021, an increase of 17.1% from 2020.
Craig Roth, research vice president at Gartner says, “Many of the existing use cases propelling the social and collaboration market, such as coordinating a distributed workforce and providing a ‘virtual water cooler,’ got a sudden jolt from the pandemic. Social and collaboration tools went from a ‘nice to have’ to a ‘must have’ within a matter of weeks.”
Integration of social software into business applications and platforms is another key factor contributing to the growth.
Gartner predicts that by 2025, nearly 65% of enterprise application software providers will have included some form of social software and collaboration functionality in their software product portfolios.
The legal industry is also very aligned with this trend. Document management, review and eDiscovery software technology providers are further strengthening their focus on social collaboration.
Many of these solutions feature document collaboration and sharing, allowing lawyers to work securely. For instance, Everlaw’s Assignment and Storybuilder functionality allow for collaboration on reviews and case building and deposition prep. Similarly, Relativity’s recent acquisition of VerQu allows for treating collaboration data like conversations.
Social collaboration is a critical component of the eDiscovery technology mix and helps lawyers communicate vital information securely and complete tasks effortlessly.
Law Image provides eDiscovery consulting services assisting law firms in evaluating technology platforms and functionality most suited to their needs. We also provide eDiscovery support services. Reach out to us for a quick connect. https://www.lawimage.com/contact-law-image-24×7/