(Credit: Raysonho via Wikimedia Commons)

Industry insiders predict a big year ahead for legal technology. Coming as a potential harbinger for the months to come is today’s announcement that Xerox’s legal and business services arm has split from the company to form Conduent Incorporated. The new company will be publicly traded, with its annual revenue at $6.7 billion.

Fashioning itself as “the world’s largest pure-play business process services leader,” Conduent will be tackling the services offerings previously handled by the combined corporation, while Xerox will now focus on delivery of hardware. As with the combined Xerox previously, legal services will constitute a considerable portion of Conduent’s business, and representatives from the company said there will be increased focus in services for compliance, e-discovery and legal support, as well as a heavier reliance on nascent technologies, like data analytics and machine learning.

As part of the transition, former Xerox Business Services CEO Ashok Vemuri was named CEO of Conduent. Vemuri noted in a statement that the company is already in the process of improving “capabilities” and “consistency” in applying automation and analytics technology to push for business growth.

Conduent is expecting the split with Xerox to allow for “a lot more focus” on investments in technology-driven approaches to legal and business services, particularly with automation technology, Conduent Legal and Compliance Solutions president Beth Fritts told Legaltech News.

Xerox’s announcement of its plans to split the company originally came in January 2016, and on November 8, 2016, the separation was officially approved by Xerox’s board of directors. On November 9, the U.S. Securities and Exchange Commission (SEC) declared Conduent’s Registration Statement, Xerox said in a release.

“We’re looking at compliance and analytics and all of these different areas we’ve been focusing on for the last six months to the year as a value component of our overall offer,” Fritts explained. “We’re saying, ‘You’ve got huge amounts of storable data. Have you thought about what you could use to head off future litigation? Or from the compliance side, how you could reuse a lot of those decisions you’ve made or work product you’ve made to reduce your cost or improve your predictability and efficiency going forward?”

Analytics is increasingly regarded as a legal technology area to watch for in 2017, applicable in a variety of arenas, including helping law firms build business intelligence, analysis of internet of things (IoT) data, deciding where and when to hold a trial, and e-discovery. Automation has been a hot topic as well, often surfacing under the terms artificial intelligence and machine learning. For corporate law, automation proved quite useful in 2016 in addressing regulatory compliance.

The move, Fritts added, provides Conduent “better market access” and “better insight into the way [its] customers operate.” Further, when it comes to compliance, the company will be “taking core e-discovery processes” and technology, then “applying them toward compliance issues.”

Industry insiders predict a big year ahead for legal technology. Coming as a potential harbinger for the months to come is today’s announcement that Xerox’s legal and business services arm has split from the company to form Conduent Incorporated. The new company will be publicly traded, with its annual revenue at $6.7 billion.

Fashioning itself as “the world’s largest pure-play business process services leader,” Conduent will be tackling the services offerings previously handled by the combined corporation, while Xerox will now focus on delivery of hardware. As with the combined Xerox previously, legal services will constitute a considerable portion of Conduent’s business, and representatives from the company said there will be increased focus in services for compliance, e-discovery and legal support, as well as a heavier reliance on nascent technologies, like data analytics and machine learning.

As part of the transition, former Xerox Business Services CEO Ashok Vemuri was named CEO of Conduent. Vemuri noted in a statement that the company is already in the process of improving “capabilities” and “consistency” in applying automation and analytics technology to push for business growth.

Conduent is expecting the split with Xerox to allow for “a lot more focus” on investments in technology-driven approaches to legal and business services, particularly with automation technology, Conduent Legal and Compliance Solutions president Beth Fritts told Legaltech News.

Xerox’s announcement of its plans to split the company originally came in January 2016, and on November 8, 2016, the separation was officially approved by Xerox’s board of directors. On November 9, the U.S. Securities and Exchange Commission (SEC) declared Conduent’s Registration Statement, Xerox said in a release.

“We’re looking at compliance and analytics and all of these different areas we’ve been focusing on for the last six months to the year as a value component of our overall offer,” Fritts explained. “We’re saying, ‘You’ve got huge amounts of storable data. Have you thought about what you could use to head off future litigation? Or from the compliance side, how you could reuse a lot of those decisions you’ve made or work product you’ve made to reduce your cost or improve your predictability and efficiency going forward?”

Analytics is increasingly regarded as a legal technology area to watch for in 2017, applicable in a variety of arenas, including helping law firms build business intelligence, analysis of internet of things (IoT) data, deciding where and when to hold a trial, and e-discovery. Automation has been a hot topic as well, often surfacing under the terms artificial intelligence and machine learning. For corporate law, automation proved quite useful in 2016 in addressing regulatory compliance.

The move, Fritts added, provides Conduent “better market access” and “better insight into the way [its] customers operate.” Further, when it comes to compliance, the company will be “taking core e-discovery processes” and technology, then “applying them toward compliance issues.”