Is your firm feeling a little stagnant lately? If you’re looking for new and innovative ways to help your firm’s efficiency and cash flow, it may be time to seek some solutions in the form of technology. Firms which are struggling with workflow and staying competitive within the industry should be looking to get results by transitioning to the mobile world. Process management, back-end systems, and confidential data can now be stored securely in the cloud, and all of this information can be easily accessed from anywhere you are, from devices from your phone to your home computer.
Certainly adding these new legal tools to your firm can invoke some apprehension about security and keeping up with the changing landscape of laws and regulations, but legal technology is so prevalent and wide-ranging that it now includes practice management tools, algorithms, disclosures and contracts that can utilize your data and populate reports and additional information to help with due diligence. Now, data from your company as well as that of your customers is secure and guarded against outside invasion. Backup and data recovery in systems which run constantly allows sensitive information to be stored, monitored, and protected.
Harnessing new legal technology allows your firm and its employees to work smarter and harder. Automation will help you in matter and knowledge management, electronic billing and spending, and document management–all tailored especially for the legal professional. Reduce repetitive and lower-value tasks in your practice, and give your employees more agency and flexibility by inputting their own data, accurately and remotely.
Let’s look at some of the ways in which leveraging new legal tools will help your law firm.
Operational efficiency. Developers have put a strong focus on how to help law firms run smoothly, and there is a wide range of applications which can help with case management, data organization and storage, automatic report generations, time tracking, and billing needs. By choosing the right software to complement your business, your internal operations will be boosted, and the data you’ve collected will be subject to data protection laws, for instant and current compliance. Staying ahead of the competition and securing trusted client relationships are other benefits of employing the use of new legal tools.
New work streams. By harnessing the new and cutting-edge legal tools at your disposal, you will be able to yield new and exciting advantages on your competition. Use technology to assist with marketing, and show off your creative side to draw in new clients, or to entice current customers to ask for new services and solutions.
Take advantage of big data. There is a constant flow of sensitive information being transferred in this digital age. Capturing, analyzing, and taking value from this data is being done within a variety of online, cloud-based databases, and these processes will directly help your own law firm. Advanced legal tools can help to identify trends by carefully interpreting client databases and user data.
Improving client relationships. Automated solutions allow legal professionals to spend more time on human relationships as opposed to busywork. Speaking directly to clients and taking the time to really engage with questions and explanations, as well as keeping clients better informed are all benefits of leveraging legal tools in your firm. If greater client satisfaction is a goal for your law firm, making sure to use your extra time to strengthen those ties is a great way to maximize cash flow and client retention.
Measurement metrics. This is an exciting feature of legal software. Accurate tracking and measurement is often lacking due to simple human error, and often time and expenses contain small mistakes which can add up to big issues and conflicts. By working with applications which exactly report your metrics, it becomes easy to determine what is working and what isn’t, as well as providing real-time, actionable data to help you succeed.
Reap the rewards of investing in technologies which will support a reduction in administration time and costs, and enable cloud-based solutions to allow for remote work. Progress can be viewed and measured in real-time, and features such as time sheets, GPS tracking, and one-click timers make Time Tracker a great choice for the needs of your law firm.