LegalTech Breakthrough today (15 November) announced KPMG Australia as the winner of the “Overall Legal Analytics Solution of the Year” award for their Legal Function Assessment Suite tool. LegalTech Breakthrough is a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products and services around the globe.
The winning solution, called the Legal Function Assessment Suite (LFAS), was designed and built by KPMG Australia’s Legal Operations Transformation Services (LOTS) team, and enables rapid assessment of a legal function’s maturity and performance against industry best practice, as well as identifying and quantifying the opportunities for optimization. LFAS comprises a number of complimentary modules including a Target Operating Model (TOM) Diagnostic, a Legal Activity Estimator and a Maturity Benchmark, which together produces a detailed analysis and recommendations roadmap, all backed up by a rich set of qualitative and quantitative data.
“We have essentially digitized a significant part of the traditional consulting and analysis process, which allows us to understand the legal function’s current state much more rapidly, efficiently and objectively” said Jason McQuillen, partner and head of the LOTS team. “We spent a lot of time on the user interface, so it requires much less time and effort from the client, which we know is a concern for already stretched legal teams. One of the great things for legal functions is that it allows them to set the baseline to measure the success of all of their improvement projects.”
Bryan Vaughn, managing director of LegalTech Breakthrough Awards, congratulated KPMG Australia for beating over 1,000 nominations from around the world for the award. “We know that legal functions typically do not have quality data around their activities and performance, which sometimes makes it difficult to create the business case for change. LFAS goes a long way to solving that problem and will no doubt set legal functions up for success in their transformations. Well done to Jason McQuillen, Alistair Griffin and the whole team who created LFAS for being our pick for ‘Overall Legal Analytics Solution of the Year.’”