Thomson Reuters recently surveyed more than 500 legal departments and spoke directly to over 100 legal department leaders and attorneys. Not surprisingly, given the T-R suite of legal software offerings, one area they covered was” vendor-provided” software (at 3). Matter and spend management tools, they found, had been adopted by 40 percent of the respondents. A similar number reported using contract management solutions from a vendor.
The General Counsel Metrics benchmark survey has almost two years of data on matter management software and one year on contract management. Matter management this year is about one-third more common than contract management, with about 90 law departments confirming use of the first and about 70 the second genre of software.
As to other law department technology Thomson Reuters reported legal hold software in 20 percent of their respondents; software for “Complex transactions” in 21 percent; “Compliance” in 22 percent; and “Entity management” in 28 percent. They either did not ask or did not report on intellectual property tracking software.