Tessaract's legal tech insights

Many business owners think business transformation is only for huge companies with many resources. This is not the case. Business transformation can benefit any company, regardless of size or industry.

The Knowing your client (KYC) journey starts when a new client approaches your practice and continues throughout your continuous engagements with the client.

The LPM Frontiers report offers a fascinating insight into the strategic thinking of mid-market law firms. For a technology provider like Tessaract, it’s a mistake to design a product for customers in the hope that they will like it: it’s essential to understand how modern law firm leaders think about their strategic priorities.

A lot of Artificial Intelligence (AI) noise is around the big firms, but small and mid-market firms are now also standing at the threshold of an AI-driven transformation. And it’s imperative they proactively consider the potential impacts of AI and strategically position themselves to harness its transformative power.

Wastage seems like an inevitable problem that any business, including legal services will encounter. No matter how much we emphasise and strive towards productivity, some interruptions and ingrained processes that are likely to be wasting time come up throughout your workday.

Digital transformation has become the buzz-phrase in recent years. Like all service industries, legal is being influenced by advances in technology, changing client expectations, and new competitors - many of whom are non-traditional technology-led disruptors.

Today's business world is demanding to say the least. Organisations are often met with onslaughts of work, short deadlines and high expectations to meet, all creating an environment in which staff are led to feel frustrated, overworked and burnt out. What if there was a better way to tackle these pertinent issues?

When you know where to look, you’ll find that digital disruption is all around you – and that’s it’s been responsible for many of the technology industry’s most sensational success stories in the last decade or two.

Businesses worldwide are experiencing an increasingly competitive and dynamic market—a dog-eat-dog world. Resource costs are vital to many companies, which is why it is one of the most expensive overhead costs on their balance sheets. As a result, an organisation must use its resource constraints to achieve maximum value.