Digital Transformation of Legal Service Industry

Reinventing the core values of a Law Firms using digital technology and change management

Written by Knowledge Team, posted on June 22, 2018.

How Attorneys can help their clients by embracing Digital Transformation, to better support Corporate Innovations. Focus will be speed to market, which is entailing clients quickly launch innovative products or internal process

What is Digital Transformation

Digital transformation of Legal Service Industry
Technology, Innovation and Transformation have the broadest impact on service delivery of Law Firms and is the priority for many firms these days. The “digital transformation” of legal services involves the application of technology-enabled services, the optimization of processes and workflows at every level of service delivery, more flexible and value-based approaches to Business solutions and legal services to maximize client value, both in terms of revenue and business impact.

1. Digital Transformation for Law Firms - A Necessity to Stay Competitive

Technology and Governance Management drives Digital Disruption
Fundamentally, Digital Transformation in Law Firms is initiated by Modern Attorneys, fueled by client demands, who wish to access and consume services/information on their own from the Legal Software Systems, the way they want it and from the device they want to use at any point of time.
Digital Transformation is shaking up the way, both the law and the legal services are delivered. Clients are becoming accustomed to technology-enabled conveniences and a superior customer experience in their personal lives and expect the same in the professional environment too. So, for Legal Service Providers, automating and digitizing manual processes and empowering their clients to work in the way they want and from anywhere they want has become the core to digital transformation.

2. How can enterprise Law Firms adapt to Digital Transformation

Email and Document Management for Digital Law Firms
In an ever-increasing competitive and digital environment, achievement of strategic objectives of the firm – be it winning new business, expanding into other markets, or anything else – will need to be driven by adapting to technology-enabled efficiencies and change management process helping people to transform for providing delivery of better value to clients. Digital workplace is more comprehensive – encompassing a wider ecosystem of content, apps, data and collaborative workspaces and is always a better way to work with. Legal Services must possess the following attributes to deliver the value proposition
  • Technology: Services need to be technology-enabled through partnership with providers to embed the most effective legal technologies in firm's business process
  • Resource mix: Optimal mix of Consultants, Attorneys and Capital to develop workflow for the continuous improvements and Process Managers to provide insight and ongoing assessment of performance to drive improvements
  • Portfolio of services: Legal services providers can assemble broad portfolio of service offerings like litigation, commercial contracting support, the development and maintenance of an IP portfolio in partnership with other firms or partnering with Consultants
  • Training: Investment in upgrading the staff members to adopt the new technology and process
  • Governance Management: Champion the changes within the firm by recruiting key sponsors. Employees must align and adopt to the changing market condition. Success of the initiative is technology and transformation, guided by change management process aligned with firm’s vision
Clients are asking for improved and comprehensive legal services at a predictable cost. In short, the need for the digital transformation of law firms is indisputable. Therefore, law firms should change to Digital sooner to meet the needs and demands of new digital clients.
Unless law firms make a serious effort to join the modern digital age, they risk losing clients – and talent. By adapting to digital tools and devices, it is quite possible drive agility and efficiency which becomes the key for business success and survival.

3. Getting Started

To embrace digital transformation, the following core technology platform can lead the way in firm’s adoption going Digital
  • Self-service application to improve Attorney’s efficiency in creating Contracts, Legal Forms and Documents. Document Assembly based on precedent and corporate branding will output document by answering set of questions, developed and managed by Business team
  • Review of Analytics to integrate multiple tasks into a seamless business process, which can change as business changes
  • Collaborate internally with other team members or externally with outside counsel
Transformative capabilities of Document and Email Management can streamline content creation, save and search to identify the contents and also the experts in the organization. AI integration can automate contract analysis, and other legal documents, and review documents for compliance.

4. Potential benefits of Enterprise Digital Transformation

Cognitive Tasks and Contract Review using AI
A Digital Transformation-led approach to business will allow Legal Firms to attract and develop their client base and differentiate their services – that will replace the traditional operational methods.
Digital Transformation helps to overcome significant challenges faced by Law Firms including intense competition, pressure to reduce costs, globalization and increased focus on client needs.
Agility, adaptability, a greater sensitivity to the customer and a desire to leverage legal services to perform on a broader scale, are all the advantages of the concept of digital workplace.
Firms that can redesign their models through Digital Transformation to better respond to the changing demands and expectations of their clients will have a substantial long-term competitive advantage.

Start your journey to Digital Transformation with PageLightPrime

Legal firms stays innovative by adopting Digital Transformation
Only the Law Firms that are capable of offering the most efficient services and the best technological tools can satisfy the expectations of Modern Attorneys or clients, and will be able to survive in the new digital world. Partnering with Legal Technology Service provider who can realize your goals is important. One such solution provider is PageLightPrime. PageLightPrime offers Client Matter centric workspace that follows the Digital Transformation approach to provide all that is needed to run a Law Office. Outlook and Office Integration, Document Management Solutions are few among the many Digital Transformation Services provided by PageLightPrime for Enterprise Legal Firms.
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