How Can You Champion LegalTech Innovation Within Your Firm?
According to Statista, the LegalTech market is expected to generate over £35 billion in revenue by 2027. This figure shows us that law firms are beginning to see the benefits of adopting legal technology, and with good reason.
As trainees with hands-on experience with legal software, you’re in a unique position to identify opportunities for LegalTech and influence decision-makers at your law firm.
In this article, we’ll look at how trainees can leverage both a fresh perspective and a keen understanding of the firm’s workflow inefficiencies to advocate for the adoption of cutting-edge LegalTech solutions.
The pivotal role of trainee lawyers In LegalTech innovation
As the newest members of the legal team, trainees are often more attuned to the latest tech advancements. As such, you’re ideally placed to spot inefficient workflows and find ways to improve processes.
One of the primary advantages that trainees have is their ability to approach problems with an unbiased mindset. Unlike more experienced lawyers who may be set in their ways, trainees are not bound by the "this is how we've always done it" mentality.
Trainees are often tasked with handling a significant portion of the firm's administrative and research-related work. This exposure provides a deep understanding of the pain points and bottlenecks in the firm's operations. This makes you well-equipped to recognise areas where LegalTech solutions could streamline processes and increase efficiency.
By actively participating in the firm's legal technology initiatives, you can not only contribute to the firm's success but also gain valuable experience in technology implementation and change management. This experience can be a significant asset as your career progresses.
Identifying LegalTech needs
Here are some tips to help you spot opportunities for LegalTech adoption:
- Pay attention to repetitive tasks:
Look for tasks that are performed repeatedly in your firm - such as document review, legal research, or client communication. These are prime candidates for automation using LegalTech tools, freeing up valuable time for higher-value work.
- Identify bottlenecks:
Note any processes that seem to cause significant delays or create bottlenecks. These could be areas where LegalTech solutions can streamline workflows and improve turnaround times.
- Seek input from colleagues:
Work with your fellow trainees and more experienced lawyers to understand their pain points and frustrations with existing processes. Their insights can reveal hidden inefficiencies that may not be immediately apparent.
Once you've identified potential areas for improvement, the next step is to build a compelling case for LegalTech investment.
To effectively communicate the value of these investments to senior management you can try to:
- Quantify the ROI:
Demonstrate the potential cost savings and increased productivity that LegalTech solutions can bring. Use data and calculations to illustrate the return on investment (ROI) over time.
- Highlight competitive advantages:
Emphasise how adopting cutting-edge LegalTech can differentiate your firm from competitors, attracting top talent and clients who value innovation.
- Improve client satisfaction:
Showcase how LegalTech can enhance the client experience by providing faster turnaround times, better communication, and more transparent processes.
As you advocate for LegalTech adoption, it's essential to stay informed about the latest trends and developments in the legal tech space.
Attend industry events, join professional networks, and engage with thought leaders to position yourself as a knowledgeable resource within your firm. Championing LegalTech initiatives can accelerate your personal growth and career progression. So, by demonstrating a proactive approach and a commitment to driving innovation, you can gain invaluable experience and establish yourself as a valuable asset to your firm's long-term success.
Overcoming barriers to LegalTech adoption
While the benefits and opportunities of LegalTech expand, trainees may encounter several challenges when advocating for its adoption within their firms. Two common barriers are resistance to change and budgetary constraints.
- Resistance to change:
Law firms can be resistant to change, especially when it comes to adopting new technologies. Senior lawyers and decision-makers may be hesitant to disrupt established processes and workflows, even if they are inefficient. To overcome this resistance, it’s important to address concerns and misconceptions early.
To do this, emphasise the long-term benefits of LegalTech, such as increased efficiency, cost savings, and improved client satisfaction. Highlight success stories from other firms that have successfully implemented similar solutions. You could also suggest a phased approach or a pilot program to ease the transition and demonstrate the value of LegalTech before a firm-wide rollout.
- Budgetary constraints:
Implementing new LegalTech solutions often requires a significant initial investment. Something which can be a hurdle for firms with limited budgets or competing priorities.
Quantify the potential return on investment and illustrate how the initial costs can be offset by increased productivity and cost savings over time.
Explore flexible pricing models or subscription-based options that can make LegalTech more accessible. It’s also a good idea to highlight the competitive advantages of adopting LegalTech, because firms that fail to innovate risk falling behind.
Definely: the answer to law firm inefficiencies
Definely offers LegalTech solutions to promote efficiency and minimise time spent on non-billable tasks:
Definely Draft offers a unique way to address time management issues by facilitating friction-free legal drafting. Our software also helps conscientious firms meet their ESG targets to reduce firm-wide carbon emissions by removing the need to print hard copies of legal documents. Taking paper usage as an example, one of our users told us: “I would print out almost every contract I had to review given how complex they were to navigate digitally (before Definely that is). If you think that the average contract I review could be anywhere from 70 to 200 pages and I might review at least 50 contracts a year you're looking at anywhere from 3500 to 10 000 pages per lawyer. Definely eradicates this need.”
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