In a steadily increasing digital market, more consumers than ever before are looking for services online. This includes those who are looking for legal services. Millions of people use social media platforms every month. Many lawyers are beginning to recognize the importance of having a social media presence to properly position themselves in the digital market.
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No matter where an attorney works, the practice of law is no longer just about the law. It’s also about competing as a business, whether that’s in a corporate setting or at a law firm.
Legal analytics—using historical performance data to make decisions about individual cases or legal operations—are one of the fastest ways to build a business case for legal practice. They offer a way for lawyers in any setting to gain a competitive advantage, both legally and in terms of business development.
Top Technology Trends for Transactional Lawyers
Tremendous opportunities exist for transactional practitioners to leverage technology to optimize outcomes. These opportunities center on four trends discussed below. Each trend has its roots in the now well-established field of litigation-support technology.
While it may seem like a safe play to delay adoption until By now, law firms have moved most, if not all, of their applications and data storage to cloud-based platforms. Those who moved before the pandemic were prepared, and the disruption proved minimal to normal business operations. Those who moved after are catching up and will be ready for whatever the future holds for their business operations.
Debunking Legal Tech Myths
There are a lot of myths and misinformation out there about legal technology that can cause law firms to stall important decisions regarding vendor partner selection or upgrading their systems. I’d like to debunk some common myths about legal tech—from robots replacing lawyers to addressing legal tech integrations—and provide some practical tips your firm can use today.
Smart Tools to Increase Your Law Firm’s Productivity
Whether you are a lawyer, working as the position of legal technology operations director, or performing any other role, the ultimate goal of your law firm is to help your clients and your business succeed. When everyone in your law office learns how to manage their time efficiently, it will be easier to manage a high volume of work and improve productivity across your company. When your staff members are productive and give their best, your law firm will be able to offer quality services for your clients, which will eventually lead to increased profits.
While it may seem like a safe play to delay adoption until AI and other advanced tools reach wider acceptance or lawyers gain more technical proficiency, the reality is that the next generation of e-discovery is arriving. Ready or not, matters are quickly and consistently becoming more complex. In this new landscape of exponentially growing data volumes and diverse emerging data sources, machine learning and AI will play an important role in prioritizing documents and providing statistical proof of error and accuracy within datasets, to help quickly surface key facts in litigation, investigations, and other legal or regulatory matters.
Running a law practice looks much different than it did five years ago. Nearly everything that happens during your day—meeting clients, scheduling appointments, and drafting and storing documents—can be accomplished more efficiently using virtual tools and platforms.
How should law firms automate their offices? It can be overwhelming to know where to start, and the sheer number of available tools can complicate the vetting and implementation process. This article will cover how firms can identify five main areas of law firm tasks where automation will help most, and how to execute new automation processes.