At the risk of stating the obvious Microsoft 365 is gaining huge momentum. It now has in excess of 345 million users. The last reported turnover for Microsoft for the 12 months ending 31 December 2022 is $204.094 billion with $139.110 billion gross profit. As many are discovering it also has huge capability: the Power Platform, embedded AI, Yammer, Digital Dictation, Power BI but to mention a few.
Read More31st Dec 2022 marked 1013 days since lockdown was announced. Little did we know that lockdown would only be the start of several years of macro-economic events.
Read MoreAnd so we may be on the cusp of a recession.
Recent stats are indicating that we may not be there yet. They are showing more optimism with inflation being more under control but even the most upbeat of us would struggle to deny the overall direction of travel. A recent eminent economist put it well: “From an economic perspective the UK has a tough 18 months ahead”.
Read More2023 could be destined to become the most interesting year for Legal Tech.
In the UK it feels like lock down is a distant memory. By the 31st December 2022 it will have been over one thousand day since lock down was announced. Professional Services firms, despite some initial turbulence have both survived and thrived.
Read MoreI recently found myself speaking to a builder. They were feeding back on the way that the current economy was affecting them but also on a recent experience with lawyers. There were the inevitable jokes about who was most expensive and cost overruns, but some more interesting themes emerged too.
Read MoreLegalTech is regarded as a hot sector from an investment perspective. Barely a day goes by without an announcement of new investment or fresh M&A (see our M&A tracker). I have been in the LegalTech market since around 1998 and so you could argue LegalTech has had a good 25 year run and the market should now be very advanced. In some ways this is true. We have large stable suppliers who invest a huge amount in R&D. In many ways however the market has failed to deliver on its potential. Let me explain why. Another way of putting this is to say that there has been a huge focus on parts of the market but little focus on other areas meaning there is a lot more that could be done.
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