Generative AI Presents Opportunity to Reshape 80 Percent of Legal Spend, Factor Predicts

Factor CEO Varun Mehta authors this piece featuring on Directors & Boards.

The white paper explores how large language models (LLMs), a subset of GenAI, creates a leadership opportunity for GCs – both through adoption in their legal departments and in providing strategic advice to the business they support.

Bloomberg Law mentions Factor and our Head of Capabilities, Ed Sohn. He is quoted in their recent article on the speed at which generative AI is evolving.

Factor's Chris DeConti highlights how today’s in-house teams must take an honest look at themselves, and develop a ranking of how prepared they are to address complex legal work at scale.

Factor's David Rawson opinion on the approach to contract management strategies that can significantly lighten the burden of increasingly complex regulatory obligations.

Factor's Karl Dorwart is quoted in SupplyChainBrain's article on how contracts can insulate life sciences companies from Supply chain strain.

Factor has earned a Band 1 ranking in the Chambers and Partners 2023 Alternative Legal Service Providers Guide for contract lifecycle management, recognizing Factor’s leading position among legal technology, Big Four and New Law companies.

Legaltech news reports how Factor will add the LegalSifter Review Tool to to it's Integrated Contracting Platform.

Varun Mehta, Factor CEO, features in Legal Dive's article as he highlights the company's partnership with Crowdstrike.

Factor Law are shortlisted for Law Company of the Year 2023.

The partnership comes on the heels of a strategic investment into LegalSifter from Factor and Carrick Capital Partners, of which Factor is a portfolio company.

The venture strengthens a unique community that helps corporate legal chiefs thrive and more effectively address complex business, legal, risk and compliance issues.

E. Leigh Dance is the Executive Director of Global Counsel Leaders, a forum for exchange among in-house legal executives, powered by Factor. In March, Leigh will moderate a virtual event with Varun Mehta, CEO of Factor

The ALSPs have become a significant segment of the legal market, with a valuation of $20.6 billion, according to Thomson Reuters' Alternative Legal Services Providers 2023 Report. Examples of specialized service providers include Factor, LegalArmy, Axiom, Kalexius, IP Calculus, Deloitte Legal, and Elevate Services.

Factor CEO, Varun Mehta is mentioned in reference to Integrated Law as well as Factor being highlighted regarding the ACC "Value Champion" Award.

As part of the transaction, Carrick Co-CEO Jim Madden and Director Ivan Whittey will join the LegalSifter board of directors, along with Varun Mehta, CEO of Factor, a Carrick portfolio company that is investing alongside Carrick in the transaction.

Varun Mehta, CEO of Factor joins LegalSifters Board of Directors.

Alternative legal service provider Factor announced on Wednesday the hiring of a former senior managing director at Ankura Consulting Group and FTI Consulting to take on the role of Executive Vice President within the Company.

Factor, recently named the Leading Integrated Solution Provider by the Financial Times, has appointed Jessica Block to its executive leadership team. As Executive Vice President of Market Solutions, she will design and launch Factor’s Integrated Contracting Platform, the unified set of capabilities underpinning the company’s services.

Factor will be a Platinum Sponsor at this years GC Summit. The well-established event, now in its 20th year, will provide an understanding of the key challenges that general counsel are currently grappling with and take a look at what’s on their agenda for 2024.

Factor, recently named the Leading Integrated Solution Provider by the Financial Times, was recognized by the ACC as a value champion for their partnership with global cybersecurity leader CrowdStrike.

Varun Mehta, Factor CEO, is quoted in The Barrister on providing/scaling specialized solutions.

The Financial Times names Factor as the leading Integrated solution provider as part of their Accelerating Business Report.

Factor announced today it has appointed Jonathan Pedersen as Executive Vice President, Global Practice Lead. He will oversee all of Factor’s engagements, managing technology-enabled teams integrated with legal and business stakeholders across Factor’s global client base.

The multi-year arrangement will see Factor lead commercial contracting for procurement and sales across BT’s customer facing units, provide multi-lingual lawyers to support BT in negotiations, and work to improve efficiencies for the company’s legal team, such as using new technologies to reduce time to market and risk.

BT is renewing and expanding its partnership with global managed services provider Factor, in a “complete synergy” which had allowed the telecoms giant to outsource “more and more complex problems”.

Contract-focused ALSP Factor and telecoms giant BT have renewed and expanded their long-term managed services relationship. They have also created a special nine-person ‘virtual bench’ team that helps the company on a range of issues in addition to the main Factor contract service.

The new multi-year arrangement helps BT Legal ‘connect for good’ with its global stakeholders, clients, and suppliers.

Mayer Brown, Factor and derivatives risk management services provider Acadia have launched ‘CAN Comply’ – a flat-fee service for the review and certification of compliance of derivatives executed under the European Market Infrastructure Regulation (EMIR).

Factor, the leader in solutions for complex legal work at scale, today announces the global launch of ‘CAN Comply’ together with Mayer Brown, a leading global law firm with a renowned derivatives practice, and Acadia, the leading provider of integrated risk management services for the derivatives community.

In an interesting example of an ALSP formally partnering with a major law firm, Factor and US-based Mayer Brown, along with specialist financial risk group Acadia, have created a flat-fee service for derivatives compliance needs, known as CAN Comply.

Law firm Mayer Brown LLP, Factor and technology company Acadia introduced CAN Comply, a new tech-based service to simplify derivatives compliance.

Factor is excited to announce the global launch of ‘CAN Comply’ together with Mayer Brown and Acadia.

2022 predictions continue with a look at what the year might hold in next-generation technology, legal operations, and contract review. Hear what Factor's Michael Callier has to say:

Factor welcomes our own Ed Sohn, Senior Vice President's contribution to the discussion surrounding ASLPs and their influence within the Legal Services space.

Factor is thrilled to offer it's expertise as Procurement Magazine speaks to 10 leaders in the procurement industry for their insights and predictions for 2022.

Factor is pleased to share it's recent feature with BlackBoiler regarding legal technology adoption.

Factor hosted a roundtable for in-house counsel to share ideas about solving the needs of tomorrow while grappling with today’s headaches.

Ed Sohn, senior vice president, head of solutions at Factor offers his insights into ALSPs and their future.

Factor connects with Priori Legal, a marketplace for in-house legal teams to find and hire outside counsel.

Factor has launched a new close partnership group that will initially see CLM Agiloft, Kira Systems, and doc review pioneer BlackBoiler, all join as part of its first cohort.

Factor and Priori both launching new legal tech and legal services networks

Factor is thrilled to be a finalist in The American Lawyer Awards

Don't overlook the importance of good, career-advancing work.

From legal tech spinoffs to promising new practice areas, here are three firms encouraging young lawyers’ creative thinking and developing fertile ground for innovation in the process.

Continuing its mission to bridge the gap between New Law and traditional law, Factor announces first cohort of participating companies, including Agiloft, Kira and BlackBoiler

New Law capabilities create the blueprint for the future of transactional practice, driving law firm innovation and profitability

The former global managing partner at Allen & Overy is joining the firm's board of directors with an aim to facilitate more partnerships between the ALSP and law firms.

In what is one of the biggest legal sector moves in years, Andrew Ballheimer, the global managing partner of Allen & Overy up until October last year, has joined the board of process-focused legal group Factor.

Alternative legal services provider Factor said Thursday that Andrew Ballheimer, a former managing partner at Magic Circle firm Allen & Overy LLP, has joined its board of directors.

Factor bridges the worlds of traditional law and New Law with notable law firm leader on board

Factor's Head of Strategy, Chris DeConti, speaks with Steven Lerner at Law360 on Factor's First Year Anniversary as an independent company.

The velocity with which ALSPs can move the hiring process as well as their growing prestige within the legal industry could make them more of an appealing prospect for legal talent.

Legal managed services provider focus on complex legal work at scale validated by the market in the first year of relaunch.

Chris DeConti, Head of Strategy at Factor, explores the difference between ‘old’ and ‘new’ law and how they are highlighted in benchmark reform.

Many attorneys, technologists and legal experts expect continued change in the legal ecosystem in 2021. But it's not just alternative legal service providers—it's how law firms and corporate legal departments fundamentally interact with their data, their people, and even each other.

Attorneys and legal technologists see 2021 pushing the trends brought on by remote work even further, with AI and analytics continuing to grab attention. Here's what they're watching out for in the new year.

No in-person review? No problem. Lawyers and legal technologists make their predictions on how the move to remote work, the proliferation of collaboration platforms, and more will affect e-discovery in 2021.

Law firms and in-house aren't the only career paths for legal professionals. Here's a look back at some of the tech talent ALSPs hired this year.

Factor’s Chris Magee illuminates a new EU regulation, discussing what organizations are impacted and what they can do to meet their compliance obligations.

Sandy Devine, Chief Commercial Officer at Factor, explores how firms have maintained continuity in a radically altered business environment.

Even beyond the impacts of the pandemic there have been plenty of significant changes in the legal tech sector and across the legal world as a whole. But what of next year? What will 2021 bring? Artificial Lawyer asked a range of experts what they think will happen next.

Originally published in Business Insider.

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The addition of Callier comes as Factor addresses market need for solutions to real problems through assessment, frameworks to develop a path forward

Factor is delighted to announce a significant expansion of the company’s legal market coverage for corporate clients in industries where contracting functions serve in a central role as a strategic business enabler.  

Originally published in LegalTech News.

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Originally published on Artificial Lawyer.

Lindstrom Brings Decades of Expertise in Building Technology Businesses and C-level relationships as well as Extensive Experience on the Boards of Major Firms and Non-Profits

Last month, we talked about how we're Converting Factor's Diversity Commitment to Action. Today, we wanted to provide an update on one of our early actions: Factor's Community Care Initiative.

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Coverage from the announcement of Carrick Capital Partners Increased Investment in Factor

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The leader in next generation solutions for complex legal work at scale is now poised to accelerate its rapid growth, increase global market share.

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