5 Benefits of Legal Tech Over Traditional Law Firms
29 December 2020
If you are a lawyer or you work in a legal field, you know the importance of staying updated on the latest technology.
With the coronavirus pandemic still ongoing, it’s more critical than ever that you use the latest legal technology (also known as legal tech) as many people prefer to do business remotely or virtually. Here’s what you need to know about legal technology and five of its many benefits, along with some considerations and warnings.
What Is Legal Tech?
First, it’s important to understand what’s meant by the term “legal tech.” Also known as LegalTech or legal technology, legal tech is a type of software designed for helping lawyers and other legal specialists perform legal tasks smoothly and more effectively. These include tasks such as document management, accounting, billing, and e-discovery.
Basic Benefits of Legal Tech
There are several advantages of using legal technology in a law practice, such as:
Even though you can use the internet for doing research, sometimes you don’t find the most current information. But this is not the case when you use the internet research platform provided by legal tech software. Thus, besides making it easier to do research, legal technology gives you more updated information.
Another significant benefit is automation. There is a wide range of software available that can automate several areas in which a law firm needs management. For example, the software lets you set up scheduled meetings, document management, and other tasks. There’s even automated billing, which gives you more time to spending on more pressing legal matters. Besides saving time, you can also save money as you won’t have to spend on hiring an office manager or assistant to perform administrative tasks.
Improved customer satisfaction
A huge perk of legal technology is that it can help keep your clients happy since it provides a better user experience. It’s possible to give clients the best legal work possible, but they can still be unsatisfied with your overall service because they weren’t as connected or engaged as they could have been. Consider that legal tech software uses features such as live chat on a legal website. This feature can be helpful in increasing client satisfaction.
Higher mobility: the ability to work anywhere
When you can’t go to your brick-and-mortar law office because of inclement weather or illness, it can be hard to keep your business going. However, thanks to legal technology, you can set up your virtual office anywhere. As a result, your work is not interrupted.
Adapting to change
While electronic court filing has been used for several years, it may soon become mandatory. That’s why it’s a good idea to start using it now, so you’ll be prepared when this transition occurs.
Legal Tech Vs. Law Tech
Don’t confuse legal tech with law tech because they’re not the same. Let’s take a look at each in further detail:
LegalTech — This is a technological solution designed to help attorneys, corporations, or businesses streamline and automate their operations.
LawTech— This software is more troublesome and can be harder to use. The reason is mainly that its goal is to bring law to people and small businesses by letting them serve themselves.
Other Considerations and Warnings
When choosing legal technology software, consider the specific needs of your law firm.
Consider if the technology empowers your firm as well as your clients.
Be sure any software solution you’re considering matches the strategy of your law firm and promotes a better lawyer-client interaction and experience.
The Bottom Line
When your clients know you’re up to speed regarding all digital trends and the latest technology, they’ll be more prone to hire you. The more you’re able to adjust to advances in technology, the more your law firm will benefit. This is even more critical now because your clients are also more tech-savvy than they were just a few years ago.
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