Next Generation AI Platform Surfaces Insights from Outside Counsel Data, Empowering Better Legal Department Management and Hiring Decisions
Priori, the leading legal technology platform for outside counsel decision-making, announced the latest version of its award-winning product, Scout, is now powered by generative artificial intelligence (AI). With Scout’s AI launch, legal teams can unlock even more valuable data and insights about their trusted law firm relationships and elevate their decision-making processes for outside counsel hiring, law firm panel management and rate reviews.
“AI is profoundly changing the way legal professionals work,” commented Basha Rubin, CEO and Co-Founder, Priori. “Using AI to power Scout allows for a more seamless integration of in-house and law firm data, including better search and matching. These capabilities empower companies to find the best legal talent for their need at that moment with minimal friction, taking administrative tasks off of our users’ plates and freeing them up to spend more time on strategic tasks that deliver business value. We are thrilled to be partnering with Hearst, Marsh McLennan and other Fortune 500 companies to bring the first AI-based outside counsel data platform to the market.”
How it Works
Scout automates the process of managing a law firm panel and interaction with outside counsel by centralizing knowledge, structuring data from disparate sources and surfacing insights in an easy-to-use, searchable platform. Using Scout, legal teams can better understand their outside counsel’s experience, rates, expertise, engagement history and more. To achieve this, Scout connects internal data on law firm experience and expertise, e-billing and performance, enriches the information with public data sources and uses AI to aggregate and organize that data to make it “decision grade.”
Legal departments find many benefits with Scout, including:
- Centralizing key information about outside counsel relationships. Law departments can get as granular as they like with data points, including combining information from billing systems, expertise and experience data, internal reviews and more.
- Clearly surfacing impactful data, such as performance reviews. Scout enables and tracks internal reviews of attorneys and firms, presenting them in a clear visual interface and preserving institutional knowledge.
- Quickly finding best-fit firms for new matters. Legal departments can compare key decision-making factors to optimize legal spend and align hiring with important internal initiatives (e.g., panel management, rate review processes or diversity certifications).
“Scout creates a new category of legal department software that broadens and deepens in-house team’s relationships with their external counsel,” commented An Trotter, Senior Director of Operations, Office of the General Counsel, Hearst. “We use the platform to quickly and effectively identify best-fit attorneys for new legal work and manage our rate review process, saving an estimated 325 hours annually.”
This announcement comes on the heels of the company’s expansion of its services, adding legal operations professionals to its industry-leading global marketplace. Since its founding, Priori has continuously responded to the needs of its clients, adding ALSPs and other “New Law” companies in 2021. Now, Priori Marketplace’s expansion integrates legal operations providers into the company’s transparent legal marketplace that serves clients who want to compare a wide range of legal services providers.
SOURCE: GlobeNewswire
