Changes in status quo will disrupt the legal profession — and lower costs
Attorneys and law firms find themselves grappling with a number of big issues that promise to change the way they do business and how their clients consume legal services.
Among the issues are:
Law firm structures that result in a lack of promotion opportunities for mid-level lawyers and discourage business development.
The two-headed monster of technology. Lawyers must not only make sure they understand basic technology, but also incorporate new approaches like e-discovery and workflow solutions that can accomplish some tasks faster and at lower cost than traditional methods.
While these challenges are significant, many observers are optimistic that as these changes occur, the legal landscape will stabilize and offer a better value proposition resulting in stronger relationships for both attorneys and their clients.
Let’s take an in-depth look at the areas mentioned above.
Technology-based changes are lowering costs to clients when software solutions such as electronic discovery or workflow solutions replace billed human hours. . Not only is e-Discovery a less expensive approach to finding information for trial, but it is faster, too. The other game-changer is workflow productivity software that for many tasks that eat up a lot of human time. Platforms such as Asana, Stack, and Doodle are perfect for project collaboration among a team. Law firms that embrace these changes within their offices can compete effectively with larger law firm competitors and non-legal contractors, especially those who offer e-Discovery as a stand-alone product.
The good news is that younger attorneys are technology “natives” who are familiar with current software and hardware and are not intimidated by the new approaches. Their influence—to help firms put technology in place efficiently serves clients—can’t be felt too soon.
Probably more important in the long-term is the recent modification of the American Bar […]