Tech Trends Driving Change in the Business of Law
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1 Tech Trends Driving Change in the Business of Law Presented by Scott Randall OM05 9/12/2015 9:45 AM - 10:45 AM The handouts and presentations attached are copyright and trademark protected and provided for individual use only.
2 Technology Trends Driving Changes in the Business of Law OM05 Operations Management Scott Randall, CEO Advanced Legal Today s Session Current State of the Law Firm Economics Major Trends in Client Driven Legal Technology Trend Impacts to the Business of Law Managing the Change / Aligning to Firm Culture 1
3 Current State of Law Firm Economics The Economics of Law Firm Success Have Changed The New Economy The New Technologies The New Consumer Today s Law Firm Challenges Economic Pressures Regulatory Pressures Employment Pressures Technology Pressures 2
4 Client Demands on the Law Firm of Today 24x7 Access to Information Privacy/Security of Information Sharing Work and Insourcing of Tasks Flexible and Predictable Pricing Multi-Platform Electronic Communications Absolute Expertise in Narrow/Specific Fields Steps to Achieving Success in Today s Legal Marketplace Accept that Law Firm Economics Have Changed Require Firm-Wide Technical Proficiency Demand Extreme Practice Efficiency Differentiate from Alt-Legal Service Providers Perfect Pricing to Win Bidding Wars Implement Alternative Fee Arrangements Commoditize Legal Work 3
5 The Winners In Today s Legal Marketplace Must Align Technology With Law Firm Business Strategy To Be Successful Major Trends in Client Driven Legal Technology 4
6 Data Centers & Connectivity Office security insufficient to meet current privacy and security requirements Office infrastructure not redundant to meet current 7x24 access requirements Connectivity bandwidth sufficient to relocate office information and technology to secure remote location Data Centers provide physical security, infrastructure redundancy, multi-provider connectivity and scalable bandwidth Data Center Checklist Geographic Location Operational Reliability Flexibility/Scalability Financial Stability Connectivity Partners On-Net Ecosystem Deployment Efficiency Client Portfolio 5
7 Desktop Virtualization Similar to Server Virtualization Separates Operating System and Software from Physical Hardware Image-Based Desktops Desktop Refresh Upon Logoff Servers/Desktops in Data Center Consistent User Experience Regardless of Location Fast and Reliable User Experience Desktop Virtualization Checklist Network Connectivity Peripheral Devices Delivery Methods Graphic Requirements Printing Requirements Core Applications One-Off Applications Firm Culture on Standardization 6
8 Practice Management Software Evolution of case management Single solution for case, financial and resource management Integrates with Office/Exchange products Delivers information to handhelds, tables and other mobile devices Provides efficient client relationship management Practice Management Checklist Case Management Functions Financial Management Functions Resource Management Functions Database and Server Platform Integration Capabilities Mobility and Portal Capabilities User Community 7
9 Business Analytics Software Integrates Practice Management software Analyzes law firm case/financial/resource metrics Different than Business Intelligence software Identifies Level of Effort for Case Tasks Guides Pricing Decisions (AFAs) Assists with Resource Staffing Levels Business Analytics Checklist Integration Capabilities Performance Indicators Deployment Requirements Administrative Data Management End-User Usability Scalability Options Firm Culture and Governance 8
10 Cloud/Managed Services Outsource Delivery, Management and Support of Law Firm Technology Reduces Firm Time Requirements for Management Non-Legal Administrative Tasks Provides 7x24 Availability, Global Access, Redundancy and Security Scalable to Meet Firm Business Needs Slight Cost Savings Over Traditional On- Premises Solutions Cloud/Managed Services Checklist Facilities, Hardware, Software and Security Onboarding / Offboarding Process Firm / Provider Responsibilities On-Premise and Cloud Integration Capabilities Backup and Disaster Recovery Capabilities Performance Management Support Competence and Structure Regulatory Compliance Inspection of Data Center and Operations 9
11 Hosted Telephony Outsource Delivery, Management and Support of Firm Telephone System Eliminates Physical Premise Requirements for Firm Voice Communications Phone System Resides in Data Center Provides 7x24 Availability and Redundancy Easily Scales to Needs of the Firm Hosted Telephony Checklist Network Connectivity and Voice Optimization Number Portability Provider Facilities and Security Onboarding / Offboarding Process Performance Management Support Competence and Structure On-Premise Requirements Product Feature Management 10
12 Trend Impacts to the Business of Law The New Technology Supported Law Firm Firm-Wide Technical Proficiency Extreme Practice Efficiency Differentiation from Alt-Legal Service Providers Perfected Pricing Implementation of Alternative Fee Arrangements Commoditization of Legal Work 11
13 Managing the Change and Aligning to Firm Culture Steps to Successful Technology Change Management Identify What Changes are Needed, Establish Business Case and Prioritize Confirm Firm is Ready for Change, Identify Key Players and Prepare/Ready the Unprepared Document and Communicate Vision and Ensure Firm-Wide Buy-In/Understanding Identify Technology Change Management Team Develop Detailed Communication and Implementation Plans Monitor Progress, Allow Time, Allow Change 12
14 Technology Trends Driving Changes in the Business of Law OM05 Operations Management Scott Randall, CEO (702) (888) Advanced Legal
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