Wednesday 16 January 2019

Why Digital Transformation is Important for Law Firms to Stay Competitive?

The last few years’ technological transformations has impacted every business sector, including the legal industry. In fact, the information routinely processed with the help of technologies for law practices has been proven beneficial for the legal sector. At the same time, customers are becoming familiar with managing their legal issues online, whether it is a request for immigration status or a claim for damages.

Legal Process Outsourcing


These are some examples of digital transformation in the legal field:

# 1. Streamline communication
According to the Law Firm Flexibility Benchmarking Survey conducted in 2017, there are two-third law companies that allow their employees to telecommute with clients. Growth in cloud technologies and mobile, it's way simpler for people to work. Technology also has blessed law firms with many other benefits like working with a partner who is not in their geographical area.

Mobility also comes with many communication challenges. Companies require some good solutions which can make their communication easy and can save costs as well. Those options can be cloud-enabled unified communication (UC) and voice over internet protocol (VoIP).

# 2. Automated electronic discovery.
There was the time when lawyers spent a sleepless night managing complicated business documents moving from one system to another and storing digital data in different systems. If it same with you then it's time to automate your workflow. When it comes to eDiscovery, technology helps lawyers prepare their cases faster than ever.

Automated electronic detection does not require many hours to sort out the relevant evidence. Because the documents are in digital format and can be scanned with optical character recognition (OCR) scanners, electronic discovery tools, like those built into Office 365 Enterprise edition, significantly speed up the process.

# 3. Simplified case management
Managing and preparing cases are at the core of every legal practice, and modern technology also helps legal professionals in this field. Lawyers no longer have to rely on complex physical and digital file systems, as document management systems now optimize their workflow and consolidate all data in the single user interface where all files are stored.The collection of all relevant information in a single database with the required redundancies avoids the costly loss of data and other unforeseen events. In addition, the software also facilitates other routine tasks such as planning, contact management, and accounting.

# 4. Information based on the data.
As companies in all sectors have digitally transformed themselves, they take advantage of information from large amounts of data generated by the digital activity. This information help law firms significantly improving their operational efficiency, maximize productivity, establishing marketing forecasts and reduce overhead.

Many law firms now use legal analysis to evaluate cases before addressing them. For example, they may not be assuming a case in which the dissolution time is likely to be extended or not resolved in favor of the client. In these cases, they can use data-driven information to improve their business position and offer powerful success strategies.

To stay competitive in this legal marketplace, law firms should adopt new technologies and practices to improve their business operations. However, many small firms are unable to invest in such tools due to budget constraints, but they are taking help from legal process outsourcing companiesLPO services have become a cost-effective solution as they have the right infrastructure, technology, and skilled team to take your business to the next level.

Read more: How Legal Professionals Can Take the Lead in an ERA of Digital Transformation?