Embracing technology within the legal services provision was found to be a huge consideration for law firms in 2019 with 80% considering it their key challenge over the next 2-3 years, according to PWC’s Annual Law Firms’ Survey.

However, disruptions brought on by COVID-19 has taken the legal industry out of its comfort zone and forced a rethink of the way business is conducted.

In particular, we’re seeing growth in the digital transformation which will enable law firms to easily amplify value to their clients, boost efficiencies and improve overall team well-being.

Tech companies like Amazon, Uber and Netflix, among other services, have shown the power of mobile apps and the instant delivery of information. Software-as-a-service and cloud apps bring speed, convenience, remote accessibility, and flexibility to business services. This shift to a customer-centric focus is putting pressure on law firms to adapt and will likely require a change in the traditional legal business model.

Here are two initiatives your firm can consider implementing now:

Cloud-based technology solutions

Some law firms are concerned about cybersecurity in a cloud-based world and resist exposing their clients’ confidential data to the internet, instead of keeping it on-premise servers. However, who is to say that on-premise servers are more secure than hosted servers?

Cloud technology creates endless possibilities for data sharing, storing and management – and you can encrypt data storage. Many iPad legal apps utilise cloud-based software to securely store documents, which can then be accessed anywhere and anytime, including in court. We are also seeing the rise in cloud solutions with law practice management systems. These applications offer tools such as time tracking, client communication and legal document management, including secure encrypted messaging services and online payment processes.

Automation via an API strategy

APIs are quickly becoming the standard by which companies exchange data, building smart, seamless, cross-channel experiences that consumers demand. It connects business processes, services, content and data to channel partners, internal teams and independent developers in an easy and secure way.

But what is an API?

An API is a set of routines, protocols and tools for building software applications. At their most basic level, APIs are a form of technology that allows different software programs to communicate. They save time with the automation of tasks and only needing to rely on one interface rather than several. Having automated data means streamlining firm operations, increasing innovation, enhancing business development efforts – and helps to reduce overheads whilst increasing productivity.

It is without a doubt that the changes brought on by COVID-19 will not be going away anytime soon – and it is during these times that digital solutions are a “must-have” to ensure normality and consistency across firms. According to the Reuters Tech and Law 2020 Report, 48% of legal professionals would be prepared to move to a new law firm or organisation if their employer lacked legal innovation. The firms who rise to the challenge will be at the forefront of best-in-class armed with a variety of tools that are crucial to increasing flexibility.

GlobalX has a range of cloud-based and digital solutions readily available to adopt at your firm. The most recent release from GlobalX provides the Law Institute of Victoria’s (LIV) VIC Contract of Sale integrated to the GlobalX Search platform. If you would like more information, contact us on 1300 885 662 or visit https://globalx.com.au.