Enterprise Legal Services Provider

Corporate legal service providers – which will be discussed in more detail in the following article – may remain “alternative providers” in the eyes of the legal establishment, but large corporate clients have a very different view. ELSPs are designed for the digital age. They offer tailor-made one-stop-shop solutions that reconfigure the role, impact and economics of the legal function. They replace an isolated, segmented, inefficient, costly, labor-intensive and profitable brake with a proactive, productive, integrated data mining-integrated and integrated business partner that retains its historical role as “business advocate.” UnitedLex was created, in the words of CEO and founder Dan Reed, “to fill a glaring gap in the legal profession – a gap in the legal leadership`s access to critical resources to drive transformation and align more deeply with the business.” Unlike senior management, who had access to a range of expertise from sources such as McKinsey, Capgemini and Atos, Reed realized that legal executives were usually alone. They relied solely on law firms and a handful of other point solution providers that tended to have a narrow, transactional view, not a holistic view with end-to-end and business-oriented solutions. Reed founded United Lex in 2006 to fill this gap. If it sounds cheeky, it does it for me too. The version of A&O for Corporate Legal can be divided into three main categories: solutions, technology, and resources. The largest in the solutions space is the Markets Innovation Group, which consists of a dedicated team of A&O partners who develop proprietary technology solutions for clients` key legal and regulatory challenges. Aosphere, the firm`s first practice extension, is an online subscription service that helps clients understand their cross-border risks. A&O Consulting, a new addition, provides business-focused advice on corporate governance, culture and purpose, operational risk and regulatory issues. ELSP`s increased efficiency, automation, and data analytics are creating new levels of collaboration and business agility that impact business success and go far beyond the traditional legal function. PSLEs close the gap between practice and delivery and work with CCs to create a delivery model that is appropriate to the organization`s culture, organization, resources and risk profile.

Gartner reports that only 19% of in-house legal teams are well prepared to support organizations` digital transformation. A recent KPMG survey confirms that digital transformation is a key strategic priority for CEOs. It is also time-sensitive: 85% of business decision makers believe they have two years to significantly complete their digital transformation before they have a negative financial impact and/or fall behind the competition. McKinsey shows the high challenges of digital transformation – data-driven companies are 23 times more likely to win customers; six times more likely to retain customers; and 19 times more likely to be profitable. The legal establishment classifies all non-traditional law firm providers as “alternative legal service providers” (ALSPs) The nickname “alternative” implies a marginalized status and proves the pride of the profession and the worldview of “lawyers and non-lawyers”. The law has long been controlled by lawyers who forged its island culture, monolithic structural and economic models, norms, regulations, and language. At that time, law was a matter of legal knowledge and legal mediation was a matter of practice. It`s a new ball game now. Legal services are all clients need to solve complex business challenges. Legal departments and law firms are unprepared and unequipped to meet these urgent and daunting challenges. That`s where a handful of ELS providers come in. If PPP is the ultimate benchmark by which elite status is measured, what enables companies to achieve and maintain it? Common features include: (1) differentiated skills and expertise in one or more practice areas; (2) high-value orders; (3) brand awareness; and (4) the financial ability to attract and retain key talent.

Elite companies operate in a rare market segment; They play in a league of their own among practice-oriented legal service providers.