We extend a warm welcome to our third legal tech provider member, Risma Systems.
“At RISMA Systems we create IT solutions that help companies save resources and simplify the many complex Governance, Risk & Compliance tasks. Our solutions are designed to make it easier to identify risks and secure compliance by translating legal requirements into practical tasks and procedures, while always ensuring cross-organisational collaboration. Our vision is to create a compliance culture and it is our pleasure to work towards that vision together with Nordic Legal Tech.” Søren Kirketerp, Channel Partner Director
The business association for Danish law firms, Danske Advokater, and Danish law firm, Schultz Legal, have come together to provide a new platform for lawyers to access and search for legal information. The new product will compete with the only service currently on the market and offered by Karnov.
The partners expect to launch their product in September 2020 and are hoping the collaboration will ensure competition in the legal information search market.
The fifth iteration of Legal Tech Day in Stockholm, organised by LegalWorks, was impressive. Not only was there a great speaker line-up, but the panels were dynamite and very well moderated. There were lots of international tech providers and the break-out sessions were well-attended. And it was a pleasure to see that the Swedes have solved the gender imbalance common at conferences in the industry. A key takeaway: less than half of Sweden’s general counsels have started to automate their work, representing a great opportunity for legal tech providers.
The pelting rain didn’t hold us back at this year’s Tech BBQ. Nor did it stop the many legal tech enthusiasts who came to our two standing room-only panel debates at the Dive-In stage at Øksnehallen.
The first panel was an insightful discussion on ‘What Startups Can Teach Law Firms – and the Consultancy Industry’ with digital consulting house, Nine, law firm Synch, a serial fintech entrepreneur and panel moderator, Nordic Legal Tech CEO, Nicholas Hawtin.
And startups have plenty to teach, it seems! It was clear from this debate that if law firms and traditional consultancies are to avoid their “Kodak moment”, they need to create value for their customers. Just like startups, they should start working with value propositions and building products their customers actually demand. This means building agile teams with entrepreneurial mindsets.
The second panel was a lively discussion with a customer-centric design expert, a research fellow from Stanford University, a professor of law at the University of Copenhagen, an entrepreneur and panel chair, Nicholas Hawtin, on the vexed question: ‘Can Technology Build Trust?’
What we took from the discussion was that we need to collectively engage with and agree upon how we can strike a balance between technology, innovation and the regulation needed to hold tech companies accountable.
We expect we’ll continue to discuss these massive topics at future tech events!
We are happy to welcome our newest member, our second legal tech provider, PREACT.
“After years of working with data solutions in the legal industry, PREACT have developed a solution to make insight simple and specifically customized for legal companies and their exact reporting and analytical needs. Therefore we are proud and excited to join Nordic Legal Tech. It is of great importance for us as a tech company to be close to and a part of the LegalTech community, so that we continuously can improve and develop smarter solutions to fit the analytical needs of the modern law company.” Lars Schultz, CEO
We held an event to gauge the views on whether technology can build trust. The topic obviously interests many, as the gig was one of the first to sell out and had to be moved to a larger venue.
Dr. Alexandra Andhov, Sarah Barslund Lauridsen and our CEO, Nicholas Hawtin, each gave brief presentations to introduce the subject, the format, and give a couple of perspectives on trust. Then the audience took over for 90 minutes of often intense debate. A fifteen-minute wrap up caught the main takeaways, while a big pile of post-its documented the work of the individual groups. We’ll be posting those on social media. (They make for good pictures.)
Co-founder Dr Alexandra Andhov took time out at September’s Techfestival to chat with Charlie Tango. She touched on the issues of the day: whether we can trust companies, private or public, with our data and how do we regulate technology.
Dr Andhov also talked about the role of education in this discussion; how we need to train law students to deal with the digitalised world so they are able to communicate with tech providers with sufficient understanding of technology.
Check out the discussion here.
Director Nicholas Hawtin also stopped by Charlie Tango’s Techfestival studio to have a conversation. In this chat, he suggests that the Nordics are well placed to set the standard on how technology can provide solutions to the practice of law and legal compliance. Two factors unique to the Nordics – being the most digitalised place on earth and enjoying high levels of trust – make for great opportunities to deliver legal tech services. Let’s take advantage of it!
We also got to talk to idea management platform, Ideanote, at Techfestival about the importance of making mistakes and innovation. If you’re in innovation, get ready to be wrong. Failure, when thoroughly examined, is a fantastic way to learn.