Streamline Your Deals to Prepare for the Future
The legal profession has undergone some dramatic changes in recent years, thanks to the internet, the economy and new legal service providers entering the market. As 2017 comes to a close, now is a good time to take a look at what 2018 may have in store for the legal industry.
Doxly founder and CEO Haley Altman recently shared her thoughts on where the industry is headed with Bluelock, a leading Disaster Recovery-as-a-Service provider for the legal industry, for its “2018 Legal Technology Predictions.” (Click here to download the presentation.)
Haley predicts next year will see the evolution and consolidation of technology focused on how clients communicate and collaborate with counsel. The days of communicating through multiple unsecure channels may be numbered as secure portals for collaboration come to market.
Streamlined processes between in-house and outside counsel was a common theme from the 2017 Association of Corporate Counsel annual meeting in October. According to Altman Weil’s 2017 Chief Legal Officer Survey, 30% of respondents rated more efficient project management as one of the most important service improvements they’d like to see from outside counsel.
Why is this important to in-house counsel? Because, as Haley explained, “streamlined processes can help increase transparency in the attorney-client relationship while also helping decrease costs.”
Clients don’t want to pay attorneys their billable hour rates for administrative tasks. These important administrative tasks still need to be completed, but by implementing technology into the workflow, these processes may be done more simply and quickly, allowing attorneys to focus on high-value work.
Project management techniques without technological support will not yield the improvements sought by in-house counsel. Technology tools that focus on secure communication, improved workflow, and document automation are critical to reach required efficiency levels.