LITIG and KMIT release guidance of transaction deal bibles
In conjunction with the Knowledge Management and IT in-house Group (KMIT), Legal IT Innovators Group (LITIG) members have been working to agree a common standard for the exchange of electronic transaction deal bibles between law firms and clients. Research found that whilst many firms invest a lot of time and effort into producing branded CDs on the basis these will be used by lawyers at their clients, increasingly the CDs are delivered to clients’ IT departments who copy the files to shared network drives or document management systems.
KMIT recommended a standard naming convention and file structure which LITIG members helped enhance and then both groups jointly endorsed the standard at recent meetings. Much of the initial work was undertaken by Andrew Dey (LITIG member and Chair of KMIT) who worked closely with a number of law firms. Commenting on feedback from law firms, Derek Southall (Chair of LITIG), said “It’s all too easy to assume we know what the client wants from IT. This is a great example of Clients being proactive to help law firms deliver what they really need.
The full Guidance Note can be found on the LITIG web site at www.litig.org