David’s product team discovered an industry-wide need for central legal matter intake and the management of internal legal requests, as well as for transitioning these requests into matters handled by outside firms when needed, through extensive research with Elevate’s corporate in-house legal customers.
Target Market: In-house Legal Project Management
Total Addressable Market: $1.3B
CAGR: 21%
Problem Statement:
Common legal-based issues, like NDAs and HR conflicts, often overwhelm in-house legal departments, which typically handle them through email and various project management systems. When necessary, data regarding the issue is re-entered into CRM, which is neither designed for legal matters nor connected to systems used by outside counsel.
Challenges and Pain Points:
85% of those interviewed said they use email to manage incoming corporate legal issues.
89% of in-house legal departments interviewed wanted to see all of their legal matters—both internal and external— managed on one simple dashboard, which was accessible to the entire legal department.
93% of sales managers and department heads interviewed said they wanted quick access to NDAs and to follow a corporate-wide legal issue protocol.
Solution:
Law departments and law firms use Elevate's ELM Manage Requests software to track legal requests, assign, and monitor ongoing matters efficiently.
Results:
In solving a critical intake and tracking problem for law departments and law firms, Elevate improved legal matter management efficiency, saving clients millions of dollars. Since the launch of Elevate ELM, Elevate’s software revenue has increased 35% annually.
Target Personas (Users):
In-house legal departments actively field requests from managers and department heads regarding NDAs and common corporate legal issues.
General Counsel (GC), Chief Legal Officer (CLO), Senior Counsel, and Corporate Counsel who are accountable for tracking in-house corporate legal matters as well as when ouside councel is utilized.
Mid- to large-sized corporation CFOs/directors of finance who want to track legal spend and financial impact regarding in-house and external matters from a centralized data source.