11 April 2023 | By Chris Thomas
Moving from on-premise applications to XaaS can provide many benefits, especially when it comes to cyber security, and should be front of mind for any business. Here's why...Read more
29 July 2022 | By Scott Delahunty
Today’s highly competitive legal sector is in the midst of a significant cultural shift, moving from the billable hour to the fixed fee model to align with changing client expectations. So now, every working minute needs to be more productive. This development — combined with the impact of the Covid-19 pandemic — has been the catalyst for a change in perspective. Firms are now more open to technology than ever before, benefitting from improved efficiency, simplified processes and more flexible working practices. In fact, Gartner estimates that by 2025, legal technology budgets will triple1. Here’s why…
It’s estimated that over 63% of tasks handled by legal teams are repetitive, fact-based decisions which don’t require interpretation or judgement2. Automating these common day-to-day business processes and workflows with easily accessible tools can significantly free up fee earner time, enabling them to shift from low-value work to focusing on more important tasks — ultimately increasing profitability.
In today’s hyperconnected world, clients expect real-time case updates with essential information at their fingertips. By digitising workflows and integrating case management systems, firms can provide a faster, more transparent service to enhance their reputation and provide efficient, relevant and timely information. Similarly, clients can return completed forms at the click of a button, considerably improving efficiency and the customer experience.
In such a competitive sector, attracting (and retaining) top talent is increasingly challenging. Behind cyber risk, shortage of talent is the second most common area of concern across the Top 100 legal firms3. Technology is enabling practices to adopt a secure, consistent, seamless hybrid working strategy, in turn allowing them to offer more flexible working options to better meet the expectations of the hybrid workforce that wants choice and flexibility. This also has the added benefits of reducing travel time and expanding both client and employee geographical reach, increasing fee earner potential.
By their very nature, legal firms hold highly sensitive data that needs to be accessed immediately, securely and from anywhere — all while maintaining regulatory compliance and data integrity. And with the ever-increasing threat of cyber attacks, implementing a robust, multi-layered cyber security strategy (including backup and disaster recovery plans) is critical to maintaining reputation, preventing significant data and revenue loss, and avoiding financial penalties.
Ultimately, with firms facing unprecedented pressure to drive efficiency, technology is redefining the legal field. Developing a comprehensive, long-term strategy that can adapt to the rapidly changing business IT landscape is essential for your business to thrive.
Bistech has worked closely with law firms across the UK for over 30 years, developing and supporting their technology solutions and helping them take the lead in an evolving digital landscape. To speak to our expert team, call us today on 03330 11 22 55.
1 Gartner, 2021, ‘Gartner predicts legal technology budgets will increase threefold by 2025’
2 TechRadar, 2020, ‘Robotic Process Automation to transform legal sector’
3 PwC, 2021, ‘Law Firm Survey Report 2021’