Are we seeing the first significant wave of commoditisation of legal tech solutions? If so, will a few large players start to dominate? And how will this benefit clients or will it just leave them with less choice?
A recent article in Artificial Lawyer discussed about the increasing activity in legal tech platform and provider consolidation. In the last few months, Thomson Reuters has acquired HighQ, Litera Microsystems has acquired Workshare, and SimpleLegal has been acquired by Onit.
This shift leads us to agree with Shilpa Bhandarkar at Linklaters, who says “Consolidation is a good thing. It is not feasible to have a different legal tech product for each individual legal task… I would want to give our lawyers a seamless experience when using technology so that they can focus on our clients and on the legal advice we are providing, rather than the individual tools required to deliver that service.”
We remain of the view that the real and tangible value we can offer our clients is the expert advice delivered through our legal tech solutions, not just in the solution itself.