Leading the Way: The Business of Law in 2022 and Beyond – Part 8

Lead the Way with Legal Technology: Putting it All Together

Enhance Workflows, Increase Client Satisfaction, Improve Profitability

More than ever, law firms are embracing agility and utilizing software to enhance workflows, increase client satisfaction, and improve profitability. Client-focused law firms know that satisfied clients are long-term clients most likely to refer new business. As clients demand greater access to real-time information and consistent and transparent communication, law firms must embrace technology that enables them to do exactly that.

Today’s legal tech companies are developing new and innovative ways to meet the needs of both law firms and their clients creating a win-win scenario for everyone. When law firms implement this technology, they are able to provide clients with greater insights into legal matters and reduce administrative time to improve profitability.

Mid-size law firms are large enough to require workflows that maintain accuracy and consistency across numerous staff members. They are uniquely positioned to embrace and implement the types of software and workflows that clients value. With fewer barriers to strategic decision-making, mid-size firms can nimbly respond to client requests, launch new practice areas, and quickly implement new technology which translates to greater efficiencies and value to clients. Their ability to easily pivot, respond nimbly, and innovate faster allows them to work with a single focus using tools that foster success.

Give Clients What They Want

Clients value law firms that are:

• Transparent
• Responsive
• Accountable

As noted in an earlier post, clients expect law firms to provide real-time updates and transparency in their communications and their billing. Email and text messaging have become standard practice. Online portals and video conferencing continue to gain favor as well. A robust client relationship management (CRM) solution can track, monitor, and analyze firm communications and other touchpoints.

What Law Firms Need

Law firms need sustainable and repeatable processes to build their practices and ensure profitability. Business development and marketing activities must be focused on generating new business, client satisfaction, and profitability. This is why having a CRM strategy is so important. When firms know what activities work, they can do more of them. Key areas of concern for growth-oriented law firms are:

• Efficiency
• Scalability
• Accuracy
• Profitability Analysis

Forward-thinking law firms are exploring how software can help them improve profitability and efficiency. While widely used, manual processes present drawbacks such as an increased risk for error not to mention the time and energy to complete them. Law firm profitability increases with efficiency and accuracy in reporting and billing time. As the law firm grows, the software can also scale to provide necessary features.

Equip Firm Leaders for Success

Law firm leaders need access to meaningful data that gives them the ability to make informed decisions backed by evidence. Accurate and integrated reporting provides leaders with insight into virtually every aspect of the firm’s functions.

Firm leaders can use available data to identify how efficiently their attorneys are working, where cost overruns need to be addressed, and how successful their firm is based on numerous key performance indicators. Understanding the clients, matters, and initiatives that are the most profitable, allows firm leaders to allocate the resources needed to move the firm forward.

Now is the Time to Embrace Legal Technology

Legal technology is evolving at a rapid pace. Confidentiality is a cornerstone of the legal profession and law firms deal with highly sensitive, personal, and corporate information every day. For any law firm considering a move to the cloud, security is at the forefront. By investing in safe and secure systems, legal technology companies also alleviate some of the burdens from law firm IT professionals through additional support so they don’t have to do it all on their own. They provide increased security by protecting the firm’s data and by providing best-in-class firewalls and security protocols.

Many legal tech apps are integrating with time tracking, CRM, and invoicing systems to easily share data. This fosters a more efficient crossover of information and enhanced reporting accuracy. Document storage is more accessible allowing users to work off the same version of a document instead of working on multiple versions.

Final Thoughts: Putting it All Together

The “Leading the Way” series shines a light on the competitive advantages of mid-size law firms and how they can use technology to improve client service, track performance, and analyze profitability. From client communication to moving systems to the cloud, law firms that continually look for ways to move forward, embrace advances in legal tech, and analyze performance are the ones that will succeed in the years ahead. How will your firm lead the way?

Read Earlier Posts in the “Leading the Way” Series

• Post 1: Leading the Way: The Mid-size Advantage
• Post 2: Leading the Way: Client Service
• Post 3: Leading the Way: Key Performance Indicators
• Post 4: Leading the Way: Forecasting Your Firm’s Performance
• Post 5: Leading the Way: Automated Timekeeping
• Post 6: Leading the Way: Strategies for Analyzing Profitability
• Post 7: Leading the Way: How to Become a Cloud-Based Law Firm

Are You Ready to Lead the Way?

Schedule a demo to learn more about how mid-size firms are leading the way, finding their competitive advantage, and unlocking higher performance with solutions from SurePoint Technologies.

About SurePoint^® Technologies

SurePoint^® Technologies is the leading provider of award-winning enterprise software that improves workflow and maximizes financial performance and profitability for law firms nationwide. Its distinctive cloud platform integrates client management, practice management, and financial management for powerful relationship-building and knowledge-sharing capability. With a community of more than 100,000 members, SurePoint continues to transform the legal industry by enabling law firms to unlock higher performance, freeing lawyers of administrative burdens so they can spend more time focusing on their clients and their practices. Learn more at https://surepoint.com.