The past 12 months have been exciting yet challenging. From the widespread influence of AI to the global financial crisis, everyone is trying to do more with less. And legal teams have felt this pressure more than ever!
Amidst the challenges, we delivered products and professional experiences that gave legal teams and lawyers the tools to thrive and be more successful.
Here are five ways we raised the bar this year.
1. Easy to use, interactive dashboards to enable more data-driven decisions
Reporting and visibility over your legal work is critical and, while it’s one of the things LawVu delivers best, we continued to seek feedback to ensure we (and you!) stay at the top of our game.
The result: New, easy to use, visual and interactive dashboards mean legal teams can easily access actionable insights, answer key questions, make data-driven decisions, and effectively showcase the value of the legal function to the wider business using data.
Even better, consolidated data collected in an intuitive, easy to use format, amplifies the value of the legal workspace and makes it easier than ever to generate reports and access actionable insights across matters, contracts, spend and admin.
“I love the updated reporting in LawVu. It gives us more granularity on our report that really makes sense to our organization.” – LawVu early access customer
“Well, it’s sort of scary to see these numbers, but great to have this visual data to back up my suspicions as to who we spend the most money with!” – LawVu early access customer
2. Secure, practical AI that helps you move faster
AI has revolutionized work processes and accelerated tasks that take your valuable time – and it is here to stay. We’ve embraced the power of AI by implementing secure, reliable and practical AI capabilities in the workspace, helping to reduce manual work and risk, to capture valuable data and to help legal teams move faster at work and scale. Here’s how:
Speeding up contract turnaround times with AI LawVu’s AI-powered contract data extraction allows customers to extract key data from their contracts at any time in the lifecycle, so they can speed up review and turnaround times, capture more data points, and accelerate outcomes that benefit the entire business.
“If I didn’t have AI, there would be a ton of data points that I would not be collecting… Other departments struggled to get that data in the past and now we can have it in a simple report, update it easily, and they can all have the data they need at their fingertips.” Bob McClintock, Associate General Counsel, CTDI
“We’ve reduced our contract review time by five days. We were at 15 to 20 days. Now we’re telling people it’s 10 to 15 business days to get a contract through the lifecycle. That’s awesome.” Scott Millea – Associate Counsel at Northern Tool
Eliminate data entry with AI in LawVu spend management
As a legal workspace, LawVu’s spend management capabilities help teams handle invoices more efficiently, collaborate securely with outside counsel through the lifecycle of a matter, and get control and visibility over external legal spend.
Because entering invoice data can be a time-consuming task, accuracy is crucial for reporting and spend management. LawVu’s AI-powered invoices eliminate the need for data entry and reduce the risk of human error by automatically extracting key data from pdf invoices on upload. The data auto-populates within LawVu, so your e-billing system automatically fills up faster with the information you need to track and manage legal spend.
3. Delightful enhancements for more efficient workflows
The more intuitive your software is, the more you get done!
We made a number of significant improvements to the legal workspace this year. These included streamlining workflows in our integrations between Salesforce, Word and Outlook to make it even quicker and easier to work with your emails and documents so you can search and find information in LawVu with less effort.
Our favorite: Get valuable information from your email faster
Email is a great tool to communicate with others, but finding information that legal teams need to take action on is time consuming, and getting visibility is a challenge when everyone is working from their own inboxes. LawVu’s new email experience brings order to inbox chaos, making it easier to work with emails and their attachments in LawVu. Now you can access and find relevant information and documents from emails with less effort and provide greater context and visibility to others in your team. Enjoy the new email viewing experience next year!
4. Simple ways to help you get a better handle on legal spend and work with outside counsel
The work you do with outside counsel is important. And expensive. If you lack control and visibility over your total workload and it’s painful trying to manage spend, LawVu’s new spend management features are sure to provide pain relief!
In 2023 we added over a dozen features to help you streamline these workflows in your legal workspace so you don’t have to work in multiple systems or worry about implementing complex solutions. We think you’ll love:
- The ability to assign different levels of access to your Legal Service Providers so you can take advantage of e-billing efficiency without change management or complicating current ways of working
- New and improved spend reporting dashboards and AI-powered invoices (see above)
- An easy way to set up your system to ingest, convert and report on invoices in multiple currencies
5. Leveling up the legal community to become better in-house lawyers
We firmly believe that long-term success requires investing in people, which is why we prioritize building InView, a strong community of in-house legal professionals, and provide avenues to build connections and further enhance their skills. Our 2023 highlights? Where do we begin!
With the support of LawVu, InView conferences took place in London and Sydney. Each of these events brought brilliant minds together for a day of inspiring and thought-provoking conversations. The impact was undeniable, leaving everyone feeling empowered.
Watch this quick video to see what the fuss is all about!
But InView is more than just conferences, it is a dynamic community where in-house legal professionals come together to learn, connect, and share. Check out the InView community and take advantage of all the learning and networking opportunities available.
Our customers love being able to up-skill, so we’ve added new courses to LawVu’s Academy, helping legal professionals and their teams set themselves up for success in 2024 and beyond. Find new Academy courses here.
Looking forward to 2024
With our commitment to deliver quality and innovation, we look forward to providing even more resources, tools, and support for you and your team in 2024 and beyond! If you’re not a LawVu customer and would like to experience these features and more, we recommend booking a personalized demo. To our customers, thank you for your continuous support.