Law firms that don’t adopt new digital technologies get left behind. It’s a sad, but true, reality. The legal industry caters heavily toward client expectations and as such, needs to evolve with those demands. Intuitive, automated technologies are the simplest and most effective way to meet client expectations and remain competitive in the market. Thus, the importance of digital transformation is apparent.
What is Digital Transformation
Digital transformation is the adoption of new digital technologies by a company for the purpose of improving business processes, efficiency, and productivity to meet current industry and client expectations. In the legal industry, legal digital transformation means improving client engagement, collaboration, and service delivery.
For a firm to remain competitive, digital transformation is a fundamental process.
Benefits of Digital Transformation
The benefits of digital transformation for businesses in the legal sector are undeniable. Just look at the success story of MonkHouse Law – a Canadian law firm that went ‘completely paperless’ by digitally automating mundane tasks to focus on client-oriented business. As a result, their client reviews improved exponentially and the firm is considered one of the fastest-growing firms in Canada.
Simple integration of innovative digital technologies allows partners, clients, and businesses to experience great reward at a reasonable cost. There are five important benefits of digital transformation that influence the behaviours and actions of a business, referred to as “SCARE”.
1. Streamline Operations
To remain competitive in cutthroat industries like legal, firms should look to technology to remove unnecessary business processes and simplify operations. Business Process Management (BPM) software, such as KissFlow, is used by firms to automate data collection, analysis, and generate reports for implementing the best processes. New technology helps eliminate unnecessary tasks and focus on the important work by streamlining processes.
2. Casework Consolidation
The landscape of litigation is currently evolving to require support for e-Discovery. The legal industry appeared technologically advanced as it was one of the first to integrate e-Discovery into the workforce. However, as the industry becomes more digitized, modern digital tools are required to improve access to information online. Technologies, such as Prophix, can be used to support e-Discovery and consolidate casework, making access to information easier to control.
3. Automate Tasks
Rather than the manual processing of paperwork, companies can adopt cloud technologies, artificial intelligence (AI), and digitally-based technologies to automate the process. A key benefit of automation is that it reduces human intervention in business practices which can human error. As a result, automation saves time, resources, and the need for disaster recovery.
4. Resource Management
Digital transformation consolidates information and resources to improve control and accessibility for legal professionals. Many digital technologies have the ability to integrate applications, databases, and software into a central access point for seamless resource management. In the legal industry, it is important to keep track of documentation and resources for the planning and implementation of projects. Modern technology, through digital transformation, enables seamless resource management.
5. Excellent Customer Experience
The customer experience should be the foundation of every business model. Without satisfied customers, the likelihood of a business succeeding is slim. For legal, communication with clients is an essential aspect of the job which means that clients should have an excellent experience. Adopting secure technologies, such as TitanFile, that promote client collaboration and security allows clients to have open communication with their legal time and feel their confidential information is secure. Thus, making them satisfied.
In addition, providing excellent customer service and the resources for clients to share their experiences (i.e. forums, website reviews) encourages other prospective clients to seek your business out.
Challenges of Digital Transformation
Digital transformation requires employees and employers alike to adopt new technologies and skills. Although digital transformation is important for growth, it can be challenging for non-technical employees to learn and utilize. A key challenge in digital transformation is user adoption.
As an employer, it is important to provide training for employees in addition to researching technologies that are user-friendly. Oftentimes, companies will integrate new technology into a firm with the understanding that it will improve x,y,z, without considering that it will not be beneficial if the users cannot optimize them to the greatest potential.
Upskilling remains an important factor for firm success, especially when undergoing digital transformation.
In the legal industry, digital transformation is business transformation. In order for businesses in the legal industry to remain competitive and profitable, they must adopt intuitive digital technologies. Although learning and adaptation are important obstacles to overcome in the process, the result proves worthwhile.
Digital transformation is a continuous process but the impact of on business growth is worth playing the game in the long run.
TitanFile is a secure file-sharing solution that law firms and legal professionals have integrated into their workspaces. As a result, firms like Marshall Dennehey, and Gowling LLP have improved client collaboration, deliverables, and turnaround times. In addition, TitanFile has a 95% user adoption rate indicating employees can easily learn and use the software to perform their duties.
TitanFile is the best digital adoption solution for firms that require large file transfers, enhanced security, and client collaboration tools. For firms that want to experience the benefits of digital transformation, click here.