Why digital transformation is essential for law firms of all sizes
We can’t escape it; digital transformation is here to stay, and it’s not just for large multinational law firms but for all sizes and types of law firms.
The term digital transformation refers to the process of using digital technologies to transform and modernise traditional business operations, cultures and customer experiences. In the context of law firms, this means leveraging technology to improve efficiency and expand their services as they strive to stay competitive in an increasingly digital world.
By 2025 70% of organisations will implement structured infrastructure automation to deliver flexibility and efficiency, up from 20% in 2021
Gartner – Predicts 2022: Driving Toward Digital Infrastructure Platforms.
Embracing the digital transformation
Since the pandemic’s start, firms have been working hard to adapt to a new way of working; according to The Legal Trends Report, 2022, 85% of lawyers are now working at least one day a week remotely. Additionally, most top 50 firms expect to reduce their office footprint by around 20%.
Digital transformation can take time to implement, but this is time well spent. Embracing digital transformation by leveraging technologies such as automation, AI, and workflows to alter the way firms operate fundamentally. It’s a shift from traditional methods, such as document-handling processes and manual invoicing, to digital solutions that streamline operations and increase efficiency.
Efficiency, efficiency, efficiency
Through the implementation of digital technologies, the mundane tasks of, for example, automating the document-handling process can save time for both lawyers and clients by allowing quick access securely from anywhere at any time and resulting in faster turnaround times for clients and reduced costs associated with traditional legal processes.
By utilising cloud-based solutions, law firms can also streamline the management of client information and facilitate virtual meetings, which according to the recent Legal Trends Report 2022, 79% of consumers see the ability to work remotely with a lawyer as an essential factor in choosing whom to work with.
Furthermore, through digital transformation, law firms can gain better insights into their data, enabling them to make better and more informed business decisions based on knowledge from past cases and trends in the industry. They would also have access to an abundance of resources at their fingertips and tools for research that could improve the quality of their work. Also, by using machine learning techniques, they could automate mundane tasks freeing up time to focus on higher-value activities while reducing costs.
It's about empowering and not replacing
Adopting a digital transformation approach is a nervous time for all involved; having faith that you are adopting the correct tech stack that suits the firm’s strategy for the long term can be challenging, but add into that the human factor and upskilling lawyers who will already be feeling nervous about been replaced by ‘robots.’
Digital transformation empowers lawyers to perform their job to the best of their ability. By automating time-consuming, repetitive tasks, lawyers can free up their time to complete jobs that they are trained to do in the first place.
Overall digital transformation can revolutionise how law firms operate, allowing them to provide higher efficiency and quality in their services while reducing costs associated with traditional operations. By taking advantage of digital transformation initiatives now, law firms will be better equipped to serve future generations of customers who expect faster results with improved accuracy.
