6 Legal Tech Trends To Watch In 2023

6 legaltech trends to watch in 2023

Certain trends that emerged during the pandemic are set to stay, or so it seems. Home working has proven beyond a shadow of a doubt to be effective and offers significant cost benefits. The ability to order online and have items delivered as soon as the same day has revolutionised the logistics industry and a culture of wanting results achieved more quickly with less effort is becoming prevalent.

To this end, it is essential that the legal industry adapts to the new normal and delivers its services in a way that is accessible to the client who wants 24/7 communications, live updates and rapid responses. The only way in which law firms will be able to meet these demanding expectations will be to embrace technology. However, to maintain stringent security standards and compliance with their legal responsibilities, these changes will need to be implemented in a considered and deliberate fashion. 

The six trending legal technologies that we anticipate seeing more of in 2023 are data security, collaborative working environments, improvements to communications, automation of much of the administrative function, real time access to profit and performance information and improved resource planning.

1. Data Security.

Whilst it may be tempting to rush wholeheartedly into installing electronic portals to provide clients with real-time access to updates on their matters, data security must be maintained. Essential pre-work must be completed to determine the most appropriate software to use, to develop a cyber incident response plan and to document processes for secure data sharing. Internal firewalls are essential to safeguard client data and financial information should the firm's computer systems be compromised at any point.

2. Collaborative Working Environments.

Secure collaborative working environments will deliver a number of benefits to a law firm. They will be able to securely store each client's information in a cloud based location where it can be accessed by anyone with a legitimate need to know, including the client and relevant lawyers and administrative staff within the firm. This level of transparency will be appreciated by the modern client.

3. Improved Communication.

With the adoption of cloud based technology comes the ability to work from a remote location. Hybrid and remote working patterns are becoming more prevalent within the industry and require that communication tools are exploited to optimum effect to ensure that clients and colleagues are satisfied with the level, type and turnaround of communication they enable. 

4. Administration Automation.

Historically, considerable time has been spent on recording, filing and handling client information. By investing in the correct software and implementing appropriate processes, much of this administrative burden can be automated, saving law firms money and improving the accuracy of client information. Automation also allows new work to be routed to the most appropriate practitioner with the time available to dedicate to it. 

5. Performance and Profits.

It is possible to develop management dashboards that detail the current health of the firm in terms of performance against milestones and outcomes and profit generated by each practice. These interactive dashboards draw raw data from information input by the lawyers and administrative staff working on each matter and can provide an early indication of upcoming issues or areas where additional attention is required. This allows senior staff to target their support to the right place at the right time, thereby increasing operating margins and minimising costly rework. 

6. Resource Planning.

With improved IT systems comes the ability to forecast upcoming work and to ensure that the appropriate personnel are allocated to deliver optimum outcomes for the client and the firm alike. Regularly reviewing the resource plan against the workload allows early identification of cases that will breach their deadlines and allow senior management to make a resource allocation decision early, reallocating existing personnel or bringing in short term contract hires to fill the gap. This level of planning allows the firm to run smoothly and maintain profitability.

If you want expert help to reach your 2023 hiring goals, please get in touch with Interlink Talent Solutions at info@interlinkrecruitment.com

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