LTH Product Briefings/LTH PRODUCT BRIEFING - LEXSOFT T3

LTH Product Briefing - Lexsoft T3

Published on 2024-09-12 by
Legaltech Hub
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Lexsoft T3 is a modern, proven, scalable, enterprise-level knowledge management (KM) system. A SaaS solution leveraging generative AI technology, T3 helps law firms to surface and access business-critical knowledge that resides in their iManage Work document and email management system. T3 provides robust and comprehensive workflows, metadata, and automation, to facilitate a highly customizable and easily scalable knowledge search capability.  

Scroll down to access the product demo video associated with this article.

 

Background

Lexsoft was founded by Carlos García-Egocheaga, who has deep technical expertise and a passion for improving legal workflows. The company’s flagship product, T3, focuses on knowledge management taxonomies and curation workflows for legal knowledge repositories, enabling law firms to manage, organize, and extract value from their immense document libraries.

Carlos had an early start in technology, acquiring his first computer at the age of 12. He studied engineering in the U.S., completing degrees in both computer and electrical engineering, and even pursued a minor in mathematics. After starting his career in R&D, specifically in chip design, Carlos moved into writing drivers for chips, which further honed his technical expertise. Over time, he transitioned into management roles, gaining experience in sales and large team leadership, particularly at SAP, where he managed complex deals in the software industry.

Lexsoft's origins trace back to a company called Tikit Group PLC a LegalTech firm where Carlos played a key role in managing the Spanish branch. After several years of growth and success at Tikit, including its acquisition by British Telecom, he decided to spin off and create Lexsoft. Lexsoft Systems was founded in 2005 under the name of Tikit Solutions, the Spanish branch of Tikit Group, focusing on technology consulting and legal sector workflows.

 

Addressing the Knowledge Management Problem in Law Firms

The legal profession is known for its massive volume of documentation, and one of the significant challenges is managing these documents efficiently. Law firms generate millions of documents, but only a fraction of them—perhaps 10,000 to 50,000—are the firm’s best exemplars for various types of legal work. Extracting value from these exemplars and ensuring their reusability is a complex task, especially given the highly specific nature of legal matters.

Lexsoft’s T3 addresses this challenge head-on by helping law firms manage knowledge more effectively. Legal knowledge management is about identifying, curating, and organizing these high-value documents so that lawyers can reuse them in future cases. By reusing prior work, law firms can save time and resources, significantly reducing the effort required to start new matters. Instead of beginning from scratch, lawyers can leverage well-crafted templates, leading to improved margins and faster turnaround times for clients. T3's focus on taxonomy management allows firms to classify documents with customizable precision, ensuring that knowledge is easily retrievable for future use.

 

Use Cases: Efficiency in Legal Workflows

T3’s use cases extend across several key functions within law firms. At its core, the solution helps with document curation and taxonomy management. In practical terms, this means that a firm can use T3 to filter through millions of documents, pinpointing those that represent the best examples of specific legal tasks. These documents are curated, anonymized, and organized into knowledge repositories that can be reused across future cases.

A typical use case would be a firm handling multiple mergers and acquisitions (M&A) matters. By using T3, the firm can identify the best precedents for drafting shareholder agreements or conducting due diligence. The platform’s advanced taxonomy and search functions allow lawyers to find relevant documents based on very specific criteria—such as the jurisdiction of the deal, the size of the transaction, or the industry involved. The result is faster document preparation, improved consistency across cases, and enhanced client service.

Additionally, T3’s capabilities extend to corporate legal departments. Large corporations often find themselves asking the same legal questions multiple times across different departments or to different outside counsel. With T3, these answers can be stored, categorized, and reused, saving both time and money for corporate legal departments that otherwise rely heavily on external law firms.

Specific use cases include:

  • Taxonomy management – the ability to create or upload taxonomies for various practice groups across a firm or organization and manage these taxonomies as terms change or are added.
  • Curation workflows – the provision of a centralized location for knowledge workers such as lawyers to push documents that are good additions to a knowledge repository, and for knowledge managers and professional support lawyers (PSLs) to review, edit, and publish those documents to the knowledge repository.
  • Anonymization – the ability to strip documents of identifying features so that they can be reused without fear of legacy party or matter information.
  • Tagging workflows – the ability for knowledge managers or PSLs to apply relevant tags to knowledge documents, which will allow them to be surfaced at the right time to the right people.
  • Push to Insight+ - the ability to surface knowledge documents in the iManage knowledge search., Insight+, which is native to the iManage Cloud ecosystem

 

Leveraging AI in Knowledge Management

Artificial intelligence (AI) plays a central role in Lexsoft’s T3 platform. Specifically, the platform uses AI to automate many of the processes involved in curating and managing legal knowledge. AI technologies, particularly natural language processing (NLP), are employed to classify documents, extract key information, and assign taxonomies.

One of the key aspects of AI integration in T3 is the use of Microsoft’s OpenAI platform through the OpenAI Azure tenant of each client. Lexsoft has integrated generative AI capabilities that allow for the extraction of relevant taxonomies, key points, and other indicators from documents. This process is automated, meaning law firms no longer need to manually classify documents—a task that can be both time-consuming and error-prone. Instead, AI helps ensure that documents are accurately tagged and classified for easy retrieval by recommending those classifications and tags, with knowledge works or PSLs being responsible only for reviewing and accepting these.

However, due to strict data protection regulations like GDPR in Europe, Lexsoft ensures that client data remains secure. The content of legal documents never leaves the law firm’s premises or infrastructure. AI processes are conducted within the client’s own private tenant on Microsoft Azure, ensuring that sensitive client information is not exposed to external parties.

 

Target Demographic: Serving Large and Medium Law Firms

Lexsoft primarily targets large law firms with over 200 employees. These firms typically have extensive document repositories and knowledge management needs that T3 is well-suited to address. Large firms, especially those handling high volumes of complex legal matters, can benefit from the platform’s ability to streamline workflows, reduce duplication of effort, and improve efficiency.

Lexsoft has also developed a lighter version of T3 for smaller firms, ranging from 25 to 100 employees. This version offers many of the same benefits but at a scale and price point that makes sense for smaller firms. For these firms, hiring a dedicated knowledge management professional can be prohibitively expensive, but T3’s AI-driven automation makes knowledge management more accessible and affordable.

The solution is also attractive to corporate legal departments, which often face similar challenges in managing large volumes of legal documents and ensuring consistency across cases. By storing and categorizing legal advice and documents from external firms, corporate legal departments can reduce their reliance on outside counsel, saving significant costs.

 

Differentiation in a Competitive Market

What sets Lexsoft’s T3 apart from its competitors? The company’s founder emphasizes two key points: experience and functionality. With nearly 20 years of experience in legal knowledge management, Lexsoft has a deep understanding of how law firms operate and what they need from a knowledge management system. This experience is reflected in the robustness of T3, which comes fully equipped with all necessary features and functionalities out of the box. Firms do not need to build or customize the solution extensively; it is ready to deploy with minimal configuration.

Additionally, Lexsoft’s team of consultants brings a wealth of expertise to the table. These professionals understand the intricacies of legal workflows and are able to guide firms through the implementation process, ensuring that the solution is tailored to each firm’s specific needs. The combination of technological strength and practical, real-world experience makes Lexsoft a trusted partner for some of the largest law firms in the world, with five of the top 10 global firms currently using T3.

 

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