Stabilize IT Costs and Drive Efficiency by Upgrading Your Firm’s Records Management Software
With legacy software applications like LegalKEY, many law firms have not seen product upgrades or feature enhancements in years. While the product is not officially sunsetted, support is no longer available, and the included feature set significantly antiquated.
Moreover, there are software providers that deliver the same basic functionality as LegalKEY, while also delivering contemporary, advanced features along with on-going product support that law firms expect in order to best serve their clients.
Transitioning from a legacy records management system is a high-stakes decision with many options to consider. However, law firms and legal departments would do well to consider the following issues in the cost-benefit analysis when contemplating upgrading.
1. Lack of product support
With an unsupported product, your organization will be left vulnerable, lacking bug fixes, software and security updates, performance updates, and deepened or new integrations with relevant providers.
2. Reduce IT costs by moving to a browser-based or cloud application
Browser-based records management solutions, either on-prem or in the cloud, have a lower cost of ownership since IT staff is not required to install the program onto individual workstations. In addition, newer systems offer more flexible user options, meaning IT professionals are no longer needed to create custom reports or small changes to user permissions or access.
3. Technology and Economy of Scale
New (or newer versions of) records management software can be built on an architecture that meets your organization’s platform, scalability, and technology needs. With cloud or on-premises deployment options, a browser-based application, and multiple licenses & user permissions, modern systems are easier to scale to any size and business need.
When legacy systems reach end-of-life status, there’s a possibility that the application will not operate on newer infrastructure or platforms. This can create unnecessary incompatibility issues and cause significant inefficiencies.
4. Useful features and connectors with other line of business applications
Legacy systems like LegalKEY have lacked significant product enhancements in recent years which can negatively impact a firm’s efficiency and compliance.
In his recent article “Plug and Play to Succeed: Integrated Adaptive Legal Matter Management” in Peer to Peer, Magazine of the International Legal Technology Association, Steve Stockstill, discussed the importance of selecting applications that are designed to integrate with other applications, saying “doing this will prevent workflow and data from being siloed by proprietary or obsolete technologies.” He continued by stating, “…this is why selecting a platform based on its ability to weave applications within a unified framework is important.”
Newer systems integrate with document management systems like NetDocuments, allowing users to manage physical, electronic documents, and other digital content together from one application. Integrations with document management, enterprise content management, and off-site storage providers enable organizations to bring disparate parts of their records management together in one ecosystem. Integrations often yield better productivity since processes can be uniformly managed.
It’s important to evaluate the impact of these new features and integrations for your organization’s productivity and compliance. As the records management and information governance profession evolves, so will the need for a dynamic, responsive application.
The legal IT space is evolving and law firms everywhere are looking to increase operational efficiency and reduce unnecessary expenditures in order to better serve their clients. To learn more about how your law firm or legal department can migrate from LegalKEY, contact us today.