The COVID-19 crisis has a profound impact across the legal sector, especially on the traditional law firms, mostly relying on the office model. The current pandemic situation has shown the importance of legal technology to the conventional as well as modern legal firms and the need for these solutions for business continuity in this scenario. The year 2020 has seen a considerable shift in the legal industry in terms of technology adoption and ongoing transformation, which is now amplified due to the global pandemic situation. The current focus on technology is driving change in the industry and is ensuring that the legal firms survive through this change.
The benefits of technology for small, midsized as well as larger law firms can vary substantially, but a few of the obvious benefits include:
Quick adaptation to change is key to success!
The COVID-19 crisis has put a strain on legal professionals in terms of performance, productivity, and value-driven client delivery while working remotely. Additionally, pressures related to enhancing the ROI and retaining the talent are driving legal organizations to boost their automation capabilities. Technologies like AI and ML play an integral role in automating legal business, handling specific tasks, and reducing legal spending. A study estimated that around 23% of an attorney’s job could be automated with technology, including chatbots.
Automation provides opportunities for legal firms and in-house legal departments to efficiently handle a massive volume of data sets, reduce costs, and attract new clients. Automation in the legal sector prepares law firms to drive high performance and thrive in the altering legal landscape. Hence the legal organizations are leveraging automation to adapt to a demanding legal market.
During the COVID-19 crisis for running and managing the remote staff, a law firm requires a broad range of tools. From task management to client management, from scheduling to invoicing and billing systems, a law firm must have a few of the key tools to run remotely. A host of technologies, including chatbots, virtual assistants, legal bots, cloud, and document automation, are enabling legal firms to automate routine tasks and enhance their attorney’s productivity.