LexisNexis® Legal & Professional, a leading provider of content and technology solutions, announced today new tiered-level product packaging for LexisNexis CounselLink® software for enterprise legal management (ELM). CounselLink ELM includes matter management, legal spend management and legal hold software along with process, analytical and benchmarking consulting services.
The new packaging categorizes the CounselLink solution and services into three offerings, each with tiered pricing, to meet a range of corporate counsel needs from basic to the most advanced. This new model is in response to growing market demand for the software and to provide more consistent, predictable and transparent pricing. It also reflects the natural progression or maturation of the ELM market, which CounselLink estimates is $500 million and growing at 10 percent or more each year.
“We’ve more effectively scoped our offerings to meet the needs of customers based on where corporate legal departments are in terms of business, process and technological maturity,” said Jonah Paransky, vice president and managing director at CounselLink. “For example, legal departments that are still highly dependent on manual processes will have very different needs than the data-driven general counsel who is already effectively using technology to manage matters, costs and deliver more value.”
Tiered-pricing applies to both software and services such as onboarding services and support packages to help legal departments get started with CounselLink. Onboarding projects including change management, training, and bringing outside law firms on, for matter management or legal spend management for example, can range from just six weeks for smaller organizations to up to 20 weeks or more for largest corporate legal departments. Implementation times can vary widely depending on the scope and complexity of the implementation.Strategic Consulting Services offered by CounselLink have also been aligned along the tiered-pricing structure and to mirror the newly re-packaged product offerings. These consulting services are designed to improve outcomes through a series of business process optimization and analytics services also available under the new tier-level packaging. CounselLink consultants help legal departments predict outside counsel expense, uncover trends, identify opportunities and manage the business of law.