The legal industry has never been at the forefront of technology, but that is beginning to change, thanks in part to an increasingly virtualized world, wireless networks, and the rapid adoption of cloud computing. Today, information technology (IT) can be a competitive differentiator for law firms of all sizes, because IT touches nearly all aspects of the business and practice of law including legal service delivery, client communications, practice management, records-keeping, research, training, and much more.
Meeting Client Expectations
Increasingly, clients expect law firms to use technology to lower costs and improve efficiencies. Client demands for around the clock access to information related to their legal matters have prompted law firms to use technology more strategically and aggressively to provide interactive client portals and applications that support risk management and workflow.
Mainstream websites such as Google, and social media sites such as Facebook, have influenced expectations about the availability of and access to information. Consequently, law firms are looking for ways to exploit the internet for business, from collaboration tools to client communication, self-service options and other modes of delivery of legal services and products.
Growth of E-Discovery and LPO
E-Discovery remains both a growth area and a challenge for law firms and their corporate clients. The volume of electronic data generated each day in the business world is growing exponentially and presents a significant challenge for law firms and their clients. Further complicating the issue of e-discovery are the risks associated with the dissemination of information over social and wireless networks and with storing data on cloud-based platforms. A rising number of corporations and law firms are partnering with third-party e-discovery providers who handle document review and project management. Law firms and legal departments alike are searching for ways to organize, store, and retrieve huge volumes of data. This has led to a widespread acceptance of legal process outsourcing (LPO), which offers the most advanced technology and security bundled with skilled staff to manage e-discovery.
How Legal Software Is Helping Law Firm Innovation
Today, many law firms have embraced the value of technological innovation and realize the need to invest in new technologies that can help a firm work more efficiently, effectively, and accurately. As a result, law firms are evaluating their IT infrastructure and options – such as cloud-based processes, and legal software applications and LPO models– to leverage technology to its fullest potential.
Source@ Global Outsourcing Association of Lawyers (GOAL)