By Legal Futures’ Associate InfoTrack
Over half of legal firms (56%) say the cost of purchasing new legal technology is the main barrier to implementation, according to research by InfoTrack, the conveyancing software company.
Even though legal technology is gaining more traction, 46% of legal professionals also believe they are not technically savvy or comfortable with new tech to lead on implementation. The research also found that 39% of legal firms are concerned about change management and the possibility that the introduction of new technology could also have a negative impact on their current way of working.
The research surveyed 178 legal professionals about their attitudes to technology in the legal profession, with the results highlighting a contrast between the reality of new tech implementation and the expectations of change. It also found that 49% admit that bringing new approaches and ideas into the business generally happens on an ad hoc basis, with only 2% of firms having a role dedicated to innovation in their firm.
Adam Bullion, GM of Marketing and InfoTrack, comments: “Legal firms have been let down in the past when it comes to the promise of new and better technology, so it is easy to understand why they are hesitant to implement new tools to change their ways of working. But with growing consumer expectations and staff demanding smarter ways to work for improved work life balance, the firms that are first to put their best tech foot forward will come out on top. The challenges for firms is that they need to look to the future, remain relevant, and place value into their business via technology. The firms who understand the importance of the first mover advantage will be the ones that succeed.”
Positively, the research also highlighted that 34% of respondents believed that firms should explore and trial new tech constantly in order to be effective and efficient, and was identified that 69% of firms have experimented with new tech in the last six months, with 52% having actually implemented new technology in that time frame, so firms are clearly beginning to become more proactive with adoption. Of those who had implemented new tech, it was noted that 83% respondents found these new tools useful, with the benefits are becoming clear.
Bullion continues: “There is clearly an appetite for change in the form of technology in legal firms. The research clearly shows that firms who implemented new tech have benefited, with the vast majority happy with their new tools. This is an encouraging sign for firms that are still nervous to close the digital divide; and if consumer pressure isn’t enough to help them make the change, then the praise from their colleagues should be.”