HOW TO BUILD A DIGITAL LAW FIRM: MOVING FROM PAPER TO PROFITABILITY

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1 HOW TO BUILD A DIGITAL LAW FIRM: MOVING FROM PAPER TO PROFITABILITY MOVING FROM A PAPER-BASED WAY OF WORKING TO DIGITAL CAN TRANSFORM THE EFFICIENCY AND PROFIT OF YOUR FIRM. 2

2 HOW TO BUILD A DIGITAL LAW FIRM: MOVING FROM PAPER TO PROFITABILITY MOVING FROM A PAPER-BASED WAY OF WORKING TO DIGITAL CAN TRANSFORM THE EFFICIENCY AND PROFIT OF YOUR FIRM. How would it impact your law firm if you could streamline and automate labor-intensive and time-intensive processes, such as case management and document management? Many law firms like yours are moving from paper-based processes to a digital environment. By digital, we don t mean enterprise content management (ECM) systems that are used to store documents. Most law firms have ECM systems in place to help with document retention, but the way in which information is delivered continues to be paper-based. In other words, law firms are still combing through systems to find the information they need, putting it together into a document, printing it, getting it signed by the relevant parties, and then scanning and putting it back into their systems, which can be an error-prone and time-consuming way of getting work done. Many companies have made the move to paperless processes. Others that are not currently making the move are planning to do so. The rest are wishing they could do so. The cost, inefficiency, risk and error-prone nature of paper processes are compelling reasons to make the change. 2

3 IN A SURVEY CONDUCTED BY LAW TECHNOLOGY TODAY, 47% OF SURVEY RESPONDENTS SAID THAT THEY PLAN TO TAKE STEPS TO REDUCE THE AMOUNT OF PAPER THEIR FIRM USES IN As with everything you do, it pays to think carefully about moving to a digital environment in your law firm. With careful thought and planning, you can choose a digital strategy that lets you extend the capabilities of your current systems, while reducing the time you spend tracking and delivering agreements, stipulations, pleadings and other legal documents. This approach can uncover huge savings in time and money, while helping you get the most out of the technologies you are already using. MOVE FROM PAPER TO DIGITAL When you migrate your paper-based processes to a digital platform, you can spend more time with clients and less on paperwork. Digital processes, driven by business applications, can deliver a number of benefits. For example, a digital platform lets you access client and case information more easily through intuitive, easy-to-use forms that can be accessed from any device even if that information is spread across multiple systems. Furthermore, going digital can help your firm comply with auditing and regulatory requirements by letting you manage all aspects of information storage, use and change. With improved access to digital information and automated workflows that help you manage that information, you can meet regulatory requirements without generating extra paperwork. 3

4 Law firm team members can also collaborate more efficiently in a digital environment. Various team members can work on case files at the same time, without having to send paper copies back and forth. And once team members have completed their task, documents are routed to the next step within the workflow, whether that is forwarding the documents on to someone else for approval, sending the documents back for rework, or storing the documents in the right system of record. You can also reduce or even eliminate delays by setting up alerts based on the status of a given document, helping to ensure workflows remain on schedule even when someone is sick or on vacation. AUTOMATE COMPLEX PROCESSES If it is impossible to go entirely paperless in your firm, you can add a level of automation to existing paper-based processes by moving to a digital environment. In an increasingly competitive legal environment, taking advantage of technology to automate tasks can help improve efficiency, reduce costs and boost profits. By streamlining inherently paper-based processes, like case management or new matter intake, you can help your team meet the critical deadlines that may make or break a case. 4

5 Digital processes, such as scripted workflows, can also help you automate repetitive actions, so there is less need for ancillary staff, helping your firm to reduce administrative costs. Lawyers in smaller firms who often do much of the administration themselves can focus on their clients and tackle more profitable work, rather than spend time on administrative tasks. Firms involved in mass-volume work are especially well positioned to benefit from digitization and automation. Case management technology can save significant amounts of time, making it possible to reduce the price of work for clients who increasingly expect fixed and lower fees. OPTIMIZE EXISTING SYSTEMS AND PROCESSES Let your legal teams focus on what they do best by applying business process technology to optimize your existing systems. Business application platforms, especially, are gaining traction because they provide an agile, low-code alternative to other systems that can take months or years to implement and deliver a return on your investment. Business applications deliver the right information, to the right people, at the right time, and bring together information stored in multiple systems, allowing everyone to move faster and work smarter. Many tasks in your current processes can be digitized to enhance efficiency and reduce waste, including: CASE MANAGEMENT CUSTOMER ONBOARDING DOCUMENT MANAGEMENT 5

6 TIME REPORTING CLIENT BILLING CONTRACT MANAGEMENT Even if you digitized just one of these processes, such as case management, that alone could help increase the profitability of your law firm, improve client reporting, and reduce the stress of managing a case. Case management software can integrate with a range of third-party applications, such as document management systems and legal accounting software. CHOOSE A SOLUTION Moving your law firm from paper-based processes to a digital process automation platform offers clear advantages and solutions are available to help you achieve these benefits while mapping to your current processes and systems. A platform that integrates with your existing systems and processes will allow you to build business applications that streamline processes across the entire firm. When evaluating platforms, it is also best to consider low- to no-code platforms that speed up development and delivery cycles, making it simple to make updates as the needs of the business change. The move from a paper-based office to a modern one can help your law firm save time and money, while optimizing your current systems. It will also help you improve your visibility into the business, so you can focus on keeping your clients happy. 6

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