There are now over 200 Alternative Business Structures (ABS) licensed by the SRA. We can all recite some of the well-known consumer brands on the list with most recently the AA and Saga joining the ranks as well.
So, whilst the debate rumbles on about whether Alternative Business Structures are a good or bad thing for the legal profession, there is one thing that’s for sure – Alternative Business Structures are here to stay, whether you like it or not.
So, as we enter 2014 traditional law firms are being encouraged to prepare themselves to compete in the ever changing legal world. ‘Focus on your own business performance, deliver excellent customer service and look to maximize profitability in every area’ says Martin MacDuff, Managing Director of Redbrick Solutions.
It’s true that many law firms do still labour under time consuming manual processes. Embracing technological change can bring about huge improvements in a firm’s financial fortunes and will deliver far reaching advancements in marketing and customer service.
For example, a quality case management solution makes communication with the client faster and more efficient. Paperwork is automatically created in seconds and text and email updates improve customer service and lower the amount of incoming telephone enquiries to fee earners.
A solution such as Redbrick Practice Management will also record all of your contact details, allowing you to bolster your marketing activity. It becomes easier to follow up on enquiries and quotations and provides an opportunity to send out promotional materials, such as newsletters, and cross sell other services, on a regular basis.
Improving processes, becoming slicker and more efficient will have a huge impact on profitability, but understanding performance and productivity both across the business, and in detail for targeted areas, is key to help firms develop and monitor strategies for sustained business growth. Integrate case management with a powerful accounting and business information solution such as Redbrick Business Intelligence and the firm will benefit from comprehensive financial reports and up to date analysis which can be accessed in seconds, with just a few clicks of the mouse.
Redbrick Solutions is a market leading supplier of legal technology. Its cutting edge solutions are innovative and dynamic and the company is proud to have been selected by the Society of Licensed Conveyancers (SLC) as its preferred supplier to members.
To find out more about how quality legal technology could help your business in 2014, please visit www.redbricksolutions.co.uk or call 0845 166 2629.