Law firms, attorneys and legal bodies actively look for new ways to improve their firm’s efficiency and to increase overall productivity. While some renowned legal firms have technology specialists and IT experts that are dedicated to digitizing their research and other processes and hence contribute towards productivity building, many small and medium sized law firms aren’t able to afford such services. Legal software has the potential to revolutionize how law firms operate, how they maintain documentation, and how they communicate and disseminate formal communication. Hence, in order to remain relevant and compete with their competitors and to become more efficient, listed below are some of the technology changes that law firms need to implement:
1.Document Management Software
A document management software for law firms or Legal DMS is essentially a cloud based document and email management software built exclusively for law firms. It allows law firms to maintain all collected documentation in digital form which ensures that their data will remain safe and uncompromised from hackers. By using a Legal DMS, law firms can also ensure that their employees can access necessary information as and when needed. They would also be able to categorize their documents by maintaining digital document tags and searching for documents by using keywords. Such software also employs two-factor authentication, encryption, and geographical data redundancy to keep your information safe.
2.Employ automation and machine learning software
Lawyers and attorneys are often stuck with office work that is mundane, unproductive, and consumes a large part of their crucial time. In order to prevent your employees from burning out over such work, it is necessary that you employ automation software that can handle repetitive tasks. Certain AI software such as IBM Watson Ross Intelligence, is capable of answering law related questions by reading through a fed body of law and citing an appropriate answer. This too shaves a lot of time from an attorney’s average day at work, and they can focus on doing things that matter most. Automation software that focuses on expense entries, client intake, invoice submissions and document review should also be adopted by law firms.
3.Use measurement metrics
Law firms should also use measurement metrics to measure the cost of their activities and other expenses. Many legal companies use big data to make day-to-day decisions about their business’s decisions. It helps them in creating and editing billing structures, handling and managing litigation. They use data and results to understand whether or not something is working for their firm, and whether new practices should continue, be altered or discontinued altogether. Additionally, management should have actionable data in order to make the firm’s partners or board of directors understand how and why certain decisions were made.
While many individuals downplay the importance of technology in the law sector, it is in fact a huge component of it. Law firms deal with extensive and extremely sensitive information all the time, and it is necessary that they document all of this digitally and keep it safe and accessible for all concerned authorities. The high pressure environment that most law firms operate in calls for ease and accessibility aided by technology.