By Legal Futures’ Associate Advanced
Steeped in tradition, the legal sector is often seen as slow to accept and implement change; however, the legal digital technology revolution has arrived. Business as usual is not an option for many, if any, legal service providers going forward. As a new generation of tech-savvy lawyers move into leadership roles, there is a desire to unlock the power of technology to see what it can offer a legal practice, its employees and clients.
Law firms are finding they don’t really have a choice when it comes to adopting technology. Recent pricing transparency rules, changes in taxation and data protection regulations, coupled with the shifting expectations of employees and clients, means that digital transformation needs to be at the heart of their business initiatives. Firms unable or unwilling to embrace digital practices are already seeing a sizeable difference in their ability to service clients effectively compared to those working digitally – and are ultimately losing business. If a firm is not reimagining how it operates in response to changing market conditions then it is under threat from those who are more agile and better adapted to the new environment.
“Evolution of the legal industry is happening faster now than ever before. Though many will survive, only the fittest – those most capable of adapting, of embracing change – will thrive.” Tamara Box, Managing Partner for Europe & the Middle East, Reed Smith
In this latest white paper for the legal sector we take a look at some of the current challenges, the opportunities they also bring – and the innovative digital technology that is helping firms to step back and fundamentally reimagine how they do business. By rethinking, recharging and reshaping, legal practices can transform the way they work to maximise time more effectively and compete in an evolving market.
This white papers covers:
- Pricing transparency
- Making Tax Digital (MTD)
- The General Data Protection Regulation (GDPR)
- Rethinking processes to drive efficiencies
- How AI is revolutionising the legal sector
- Recharging with digitisation
- Reshaping for a strategic advantage
You can read this white paper in full here.
This white paper was shared with us by Advanced.