Having already explored the effect of technology within other realms of professional services including Accountancy and Financial Services, it is only natural that the world of Legal would also be affected.
What was once upon a time perceived as a traditional practice – the Legal sector is in fact at the very forefront of working in symphony with the ever-increasing presence of AI and Technology. It will be interesting to see the developments within the sector and to what affect, if any, this will have upon an industry which has a substantial focus on chargeable/ billable hours?
With everything from Practice Management Software’s, to Legal Research Sites and fully Virtual Firms (seen most clearly in the Conveyancing sector), it is becoming apparent that every area of the legal world will soon be impressed by the ongoing developments in technology – with more traditional methods being replaced by new functions.
So, what are the key benefits of appointing and embracing this new technology?
From the view of the firm itself, implementing an established Practice Management / Case Management System, can significantly promote efficiency within the workplace allowing fee earners to focus their time on the tougher aspects of their position, increasing productivity and profitability within their relevant department.
Coming from the client’s perspective, the increase in efficient communication through new technology, thus reducing chargeable hours, obviously offers many benefits - most noticeably the financial impact. With applications such as “The Link App” being at the forefront of developing the way firms communicate securely and efficiently with their clients remotely, surely it is only a matter of time until this practice is adopted by all firms across all services, be it via an external app or an internal management software. It is only logical how this way of communicating will have a significant and positive impact on the future of client management, for the firms and clients alike.
From the view of the employee, this will significantly increase the ability and flexibility to work remotely or from home, which is of course a significant advantage. In Recruitment it is one of the most prevalent questions we are asked when discussing offers & benefits, so firms implementing new technology to make this a real possibility, will have a much higher chance of securing their candidate of choice.
We currently work with a number of forward-thinking firms, especially within the Residential Property remit, who are embracing this technology to such an extent that they can provide opportunities that are completely remote. It will be interesting to find out how transferrable this way of working can be applied to more traditional areas of law and how firms will adopt, embrace and put their own individual twist on these methods.
From this we can notice that certain services will be affected to a more considerable extent, or will be affected much faster, meanwhile certain areas will remain untouched…..…. or is it only for a matter of time?
I would be keen to find to what extent you have observed these changes within your area of Law – and whether you see any negatives to these continuous updates in technology within the Legal Sector?