Themes and Thoughts from Legal Tech

There was enthusiasm and excitement in the air at Legal Tech, not only because the weather was unseasonably nice.  New companies have sprouted to existence, bringing new ideas and upgrades on some old ones.  Long standing vendors have added a new spin to their products, with new features being all the rage.  You couldn't go anywhere without seeing something about predictive coding, or some of the other buzz products.
A few companies were displaying some Project Management software to aid either vendors, corporations, or law firms in managing their eDiscovery data.  There were also some innovative time tracking products, with advanced features and an ability to track and review metrics on the go.
Another buzz word around the conference was transparent invoicing.  This, of course, relies heavily on transparent pricing from the onset.  The client wants to know more about where their eDiscovery spend is going, to assure they are getting value, but also to be able to adequately negotiate future work with vendors.  Many vendors still have to deal with a reputation in the industry of out of control pricing and lack of consistency between vendors to make an adequate comparison.  While this may be out of a desire to confuse the client into paying more, it is more a result of vendors wanting to invoice clients in a manner consistent with the value of the work performed.  Per GB pricing is still used in many areas of the eDiscovery world, and it works for simplicity, but certainly does not always bring the best value for the vendor of the client.
Relying on a more complex pricing model can be beneficial for the client, but only if they can understand what is going on.  For many in the field, the EDRM is something that is naturally understood - a natural progression of data passing through stages.  The client, however, is looking at it from a different perspective - concerned more about the end product than what it took to get there.  Having an understanding of client expectations is the first step to truly transparent invoicing. 
Along with meeting great people in the industry, Legal Tech is a great time to see what people are excited about, whether it be vendors, clients, or others interested in the field.