Even before the coronavirus pandemic sent the demand for legal technology solutions through the proverbial roof, tech has been gradually disrupting the law industry for well over a decade. This evolution has proven beneficial overall, but many firms and departmental offices in this field have hesitated to embrace it.
Law firms that continue to make do with antiquated systems are hurting more than productivity. Imagine the time sink caused by manually performing tasks that are automated in modern offices. This not only cuts into your billable time but overburdens your staffers and limits your ability to scale up your services. Now is the time to take the next step and join the technological revolution or be left behind.
The Future is Already Here
A trend repeatedly seen in study after study regarding law firms and client expectations is the desire for greater value in services. The Altman Weil "Law Firms in Transition 2020" survey found that 62.4% of participants collaborated with their clients to create alternative pricing plans in 2019. This finding shouldn't come as a surprise as the market has become more customer-centric over the past two years.
Because clients have access to unlimited information in real-time via the web, they can make decisions more confidently and rapidly based on reviews and statistics shared online. Law firms and departments that have increased their utilization of legal technology focus on this aspect, earning loyalty to their brand through improved service experiences, transparency, flexible access, and streamlining operations to improve workflow and returns.
This level of competition underscores the need not just to be aware of new legal technology but to use it and fuel your law office's success.
Technological Competency Has Become Non-Negotiable
Legal professionals with the goal of creating a sustainable business model will need to improve their tech knowledge and apply it. Improved services delivery is beneficial when improving the following areas of your firm or department: overall technological competency, entity practice management, documentation automation, and other automated processes.
Leveraging state-of-the-art technological solutions can vastly enhance your current service offerings and ability to predict outcomes more accurately. At Athennian, we harness the latest tech tools to streamline workflows by automating routine tasks through powerful entity management software.
Thanks to advancements in machine learning and AI in general, the potential for future automation of high-level tasks beyond document population and e-signing of documents is just around the corner. Studies have shown that this technology consistently outperforms a real person when classifying documentation and other related tasks involving categorization.
Legal Technology Has Undeniable Benefits
The cost savings associated with legal tech is probably the first advantage that comes to mind when deciding to migrate to a cloud-based entity management software solution. This is undoubtedly a benefit, but it represents the result of several other key factors that boost your ROI, including:
Online Document Filing
Submit filings online has quickly improved the delivery of services for attorneys and legal departments worldwide. Instead of relying on traditional mailing or going in-person to a courthouse, paralegals and clerks can quickly and securely send off time-sensitive documents to the necessary parties with just a quick upload and click of a button.
Even more advantageous is that errors are caught almost immediately. This means no more delays or deadline non-compliance.
Entity Management Software
Suppose you are part of a legal office or organization that hasn't yet migrated your data to a comprehensive entity management software. In that case, you likely are losing billable hours to unbillable tasks. Pressure is growing to deliver faster and to meet this demand, your team needs to be efficient and your operational processes streamlined. If you're working with an antiquated management system or still conducting some tasks manually, it's time to seriously consider upgrading.
Save time for more productive tasks, spend less on hiring, and improve client service experiences with cutting-edge legal technology. From digital document creation to conducting client intake before they ever step into your office, using this type of management tool will revolutionize how your business operates and boost your revenue.
Discover What Legal Technology Can Do For You
The reality is that the future has arrived, and legal tech innovations like entity management software are critical in delivering efficient law services. Firms that are not yet open to implementing automated business solutions will find themselves unable to compete in their markets.
Much of the hesitation felt is often due to the unknown. Can legacy data migrate safely to the cloud? How difficult will it be to utilize a new system? At Athennian, we understand this anxiety and have created a comprehensive software solution with end-to-end support and dedicated client teams to ensure a smooth transition.
Download our Essential Checklist for Evaluating Legal Technology to learn more and reach out to one of our team members to schedule a customized demo of our software tool.