Prosperoware: Empowering the legal industry to transform

CIO VendorL. Keith Lipman, President
Today’s legal industry is driven by an increasing demand for operational efficiencies, downward pricing and security of data. The transformation sweeping the industry demands that law firms embrace new technology-driven processes that reduce costs, improve transparency and streamline information management across the board. “Our specific drivers prompt legal firms to resolve key challenges around matter centricity, information governance, and electronic file management,” says L. Keith Lipman, Esquire, President and Co-Founder of Prosperoware.

Need to know

From a content management perspective, the legal industry is unique in that it not only generates its own content, but maintains massive quantities of information that are actually owned by clients. Increasingly, firms feel pressure from clients to protect their data, as well as the ongoing risk from hackers attempting to achieve either political or economic gain.

For example, multi-nationals engage law firms to represent them in patent solutions created through a substantial investment in R&D. Firms are required to collect all the critical data to file the patent, which, if exposed, could result in loss of billions of dollars.

“For them, the real threat lies in cyber espionage,” says Lipman. Lipman advocates an information governance strategy to address this, where end users place their documents and email into electronic files and manage them within established policies.

Milan, an integrated platform for information governance, provides layers of access for different parts of the law firm to help secure confidential matters, enabling security to become a natural part of the workflow.

Improving efficiency

In light of increased client pressure for efficiency, predictability, and cost effectiveness, law firms are being forced to rethink and revise organizational, pricing and service delivery models.
Umbria, the newest enterprise platform from Prosperoware, integrates law firm data to provide a better understanding of a particular matter, client relationship, or practice area to increase client value. Umbria provides metrics and budget-building templates to allow greater visibility into the economics of engagements and to aid firms that are implementing Legal Process Management techniques.

Another new product, Umbria Litigator/Documents, enables legal professionals and support staff to create different types of indexes such as pleadings, depositions, trial, and case bundles–a piece that is missing in other enterprise document management systems on the market.

“At their core, our products enable self-service, greater security for data, order control and analytics, enabling people to work more effectively during the litigation process,” explains Lipman. The clients are benefitted by standardizing the work processes, as are the different teams collaborating nationally and internationally in the same manner, so that when you bring new staff on board, they know where to find the right amount of data for a particular type of work.

Based in Bala Cynwyd, PA, Prosperoware’s solutions are used by top law firms and corporate legal departments, Gump Strauss Hauer & Feld LLP, Goodwin Procter LLP, Baker Botts LLP, Hill Dickinson, Berwin Leighton Paisner LLP, Comcast, NBCUniversal and HP. Operating from offices in Europe, Asia, and the U.S., the company fosters a corporate culture where employees are encouraged to explore and understand more, not limiting themselves to their own defined workspace.

Given the transformation in the legal industry, Lipman believes that the different systems in play across departments have to be consolidated for law firms to act more efficiently. “We are seeing this unified flow coming ahead and are focused on innovating to enable it,” says Lipman.

Prosperoware is growing in the areas of LPM and investing in additional processes as lawyers start advancing from basic budgeting to project management, making business development more efficient.

Company
Prosperoware

Headquarters
Bala Cynwyd, PA

Management
L. Keith Lipman, President and Esquire, Co-Founder

Description
Managing the electronic file, matter centricity, document and email management, information governance, pricing & experience management.