Holland & Knight Enhances Legal Efficiency and Data Management with Litera Solutions
The Problem
Holland & Knight, a leading global law firm with approximately 2,200 lawyers and other professionals in 34 offices, faced significant challenges in managing their data and improving efficiency across their legal processes. With data scattered across multiple systems, they sought to gain comprehensive insights into their clients and matters in order to make informed decisions. The firm also strove to enhance its due diligence e-process to manage matters more efficiently.
The Solution
To address these challenges, Holland & Knight partnered with Litera to implement several innovative legal technology solutions: Foundation, Kira, and Clocktimizer.
"One of the key reasons we like to work with Litera is their legal focus and their reputation within the industry. Litera has been a long-time partner of Holland & Knight and they continue to grow the product suite with products that we feel very comfortable using,” says Glenn LaForce, Chief Knowledge Officer at Holland & Knight.
Each tool was chosen to meet specific needs:
Foundation provides their experience data backbone by centralizing and transforming data from multiple systems into easily accessible, comprehensive and fully connected profiles of their client, matters, and lawyers. This provides strategic insights and enables the quick pinpointing of relevant experience and expertise for delivering legal work and winning business.
According to LaForce, "Holland & Knight combined with several firms over the past few years, and as a result our data was scattered across multiple platforms. When searching for a central firm intelligence solution, Foundation emerged as our top choice. It allowed us to consolidate all that data into a single location, providing valuable insights into our clients and matters."
Kira streamlines their due diligence process by leveraging lawyer-trained AI to identify, extract, and analyze over 1,400 clauses and data points in contracts and other documents quickly and accurately. This reduces the time and resources required for comprehensive due diligence, leading to improved client service.
"Using Kira, we quickly recognized not only the cost savings to be gained through a powerful due diligence tool but also the invaluable training it provides for young lawyers in performing due diligence with greater accuracy. Kira empowers our lawyers to work faster and more precisely, enhancing the overall quality of our due diligence process,” says LaForce.
Finally, Clocktimizer allows Holland & Knight to make data-driven matter management, pricing, and budgeting decisions. By automatically reading time-card narratives and categorizing them into types of work, Clocktimizer helps them to understand exactly who does what, when, where, and at what cost.
LaForce says Clocktimizer “really helps us investigate where we're writing off time, where we're writing down time, where our margins are, and allows us to better manage our matters moving forward."
Litera's support and collaboration were critical in ensuring the seamless integration of these products into Holland & Knight's existing workflows. The implementation process was smooth, with Litera providing extensive training and resources to maximize the tools' impact.
The Results
Litera’s solutions are delivering significant value in several key areas for Holland & Knight:
- Client and Matter Insights: Foundation centralizes and transforms Holland and Knight’s data into easily accessible, comprehensive and fully connected profiles of their clients, matters, lawyers, and third parties. This helps capture knowledge, improve efficiency, and enhance client experience.
- Faster and More Accurate Due Diligence: Kira's AI-powered capabilities have transformed the quality and speed of the firm’s due diligence process, resulting in better client service.
- Reduced write-offs and write downs: By automatically reading timecard narratives and categorizing them into types of work, Clocktimizer enables Holland & Knight to price, budget and manage matters efficiently and accurately.
By partnering with Litera, Holland & Knight has transformed their approach to experience management, due diligence, and matter management, resulting in greater efficiency and a stronger competitive edge.
Hear more about Glenn’s legal innovation journey and Holland & Knight’s approach to technology adoption in the video below.
