International firm Eversheds Sutherland plans its own tech-driven alternative business structure with ambitions to turn it into a £100m outfit.
Konexo will offer legal managed services, corporate secretarial services and assistance with financial services compliance. It will also help with legal resourcing. An application to secure an ABS licence is set to be made later this year.
Artificial intelligence, robotics, document automation tools, and case management systems will be used to drive efficiency, and the business will employ technology specialists, regulatory consultants, project managers, data analysts and management consultants, as well as lawyers and paralegals.
Konexo brings together three existing teams within the firm: ES consulting, corporate secretarial and volume insolvency. However, it has ambitions to grow and provide more services under a separate structure.
The business has also created a head of technology and transformation role to drive ‘fast, profitable growth’.
Partner and head of Konexo Graham Richardson said: ‘Intelligent analytics, automation technology and innovative operational processes are at the heart of what we do and this will play a critical role in driving Konexo’s future success.’
Lee Ranson, co-CEO, added: ‘Clients are increasingly asking us for alternative solutions to enable them to better deal with the changing legal landscape. We have a bold and ambitious plan to accelerate Konexo in to a £100m business.’