An Evolving Market: How Law Firms Can Stay Ahead of the Competition
Technology is an essential part of any modern practicing attorney’s toolkit. In Tad’s Tech Corner, join me as I discuss how to best utilize technology– both from a device and software standpoint– during your daily lawyering tasks and trial. Discussions, as always, are welcome in the comments section below.
— Tad Thomas
The legal industry is constantly changing. It’s also one of the most competitive industries to work in. If you want to stay ahead of the game, boost clientele, and increase revenue, you need to know how to adapt to industry-wide changes and keep your law firm updated with the latest technology.
Recognizing Changes in the Legal Industry
If you want to compete with the top law firms in your area of law, you need to recognize the changes happening in the industry and find ways to adapt your law firm’s procedures and processes to meet those changes. So let’s take a look at some of the more recent changes we’ve seen.
The COVID-19 Pandemic Impact
The COVID-19 pandemic changes how the majority of lawyers practice law. Not only did we have to adapt as trial attorneys to social distancing and virtual court proceedings, but law firm employees are viewing their jobs in a different light. Some firms have gone entirely virtual, choosing to close the doors on their brick-and-mortar office. The pandemic also affected how potential clients find lawyers and what they consider when choosing one. Some of those most important factors are accessibility and communication.
Outsourcing Legal Processes
To make legal processes more efficient, outsourcing is becoming the way many law firms go. Legal process outsources refers to breaking down areas of law and coming up with ways to reduce related expenses. Not only does this have the potential to increase revenue for law firms, but it could also create new jobs.
The legal services you provide as a trial attorney are a part of one of the most important industries in the entire world. Areas of law are growing and expanding, so it’s essential to stay abreast of what potential clients need help with.
Keeping Up With Technological Advancements
In addition to acknowledging the changes in the legal industry, you need to make sure your law firm has all of the latest software and hardware. Not only will this ensure you continue to run correctly, but you can make sure you have the proper precautions in place to keep client data safe.
Prior to the pandemic, brick-and-mortar offices were standard for the majority of law firms. Now, however, virtual offices are on the rise. As a result, not only are virtual law firms saving money for lawyers, but it’s expanding potential clientele.
While office space is often still necessary for depositions and mediations, renting a space is an option many are turning toward. It’s unlikely that brick-and-mortar offices will go away, but expect to see more attorneys practice law virtually.
With how complicated legal procedures can be, it’s no surprise that efforts are constantly being made to streamline the process. For example, in regard to discovery, electronic discovery, or e-discovery, is making it easier for attorneys to handle the process.
Everyone involved in the case needs the proper tech support to handle discovery. There are a number of software and apps on the market. So many so that the industry is now worth over two billion dollars. In the upcoming years, that number is only expected to rise.
In today’s world, you need to do more than lock your filing cabinets and set a strong password to protect clients’ data. The risk in hacking means lawyers need to evaluate their firm’s cybersecurity protection.
Certain software and IT companies can set you up with the correct encryption techniques to ensure all of your firm’s data is safe. In the event of an attempted breach, you’ll have safeguards in place to try to stop it.
Evolving Your Practice to Meet Clients’ Needs
The more up-to-date you keep your practice, the better you will meet clients’ needs. With the proper advancements and technology, you could potentially expand your practice areas, take on unexpected cases, and continue to grow your law firm.