It’s no secret technology is shaping the world in ways we could never have imagined.
While the Jetsons and Captain Kirk might say we’re progressing slowly in our technological advances, technology still is becoming more advanced and beneficial for everyone – especially in the legal world.
A renewed focus on technology is perhaps one of the largest trends in the industry. Many firms no longer are thinking of technology as a necessary evil, or a means to an end, but more as an asset that can improve their firm and make it more profitable and efficient.
Managed services, cloud computing, security-as-a-service and business-class equipment all are on the tick list of law firms looking to gain a competitive advantage. Smart firms use technology as a strategic and tactical tool to reach their objectives faster.
Here are some top trends law firms are embracing to make their businesses more successful.
Cloud computingWhile initially feared because of security concerns, law firms now are embracing the ease and power of cloud computing.
According to a survey by LexisNexis, 40 percent of attorneys are currently using cloud tools, 50 percent plan on using the cloud next year and 72 percent say they are likely to adopt a cloud service in 2014.
The advantages for attorneys include improved document management and storage; enhanced access and mobility to data and applications – through many different kinds of devices; increased storage; easier time tracking; better case management; and more efficient billing.
Smart firms are embracing the cloud and moving data and applications there as appropriate.
Big data and analyticsThis technology is effecting the legal world, just as it is every other industry. Big data is the idea of taking large amounts of data, from potentially many sources, and analyzing that data through means not typically available to small organizations.
Generally, the analysis is done with cloud-based tools that spit out data useful to make decisions and forecast trends. By taking large amounts of data and processing them in these models, attorneys can gain great insight into trends that affect their business, and the cases they manage.
Smart firms us this insight to manage their business better and close cases quicker.
SecuritySecurity has been a sticking point for many attorneys as the balance of high security and convenience are usually at odds.
With increased regulations, attorneys are flocking toward email encryption, multifactor authentication, secure cloud-based archiving and backup, and generally greater network and Internet security practices.
Many firms are realizing regulations in place in other industries also trickle down to their practices if they represent a client under that regulation. For example, a law firm that represents a medical facility needs to have a business associates' agreement in place and follow other Health Insurance Portability and Accountability Act – HIPPA – regulations.
Since law firms often represent people and businesses from many industries, this makes the legal world a melting pot of high security.
Smart firms are making sure their security is tight enough to handle any threat.
Secure collaborationSecure collaboration encompasses several of the other trends above.
Better cloud-based applications designed for the legal industry, coupled with secure file-sharing applications, encryption and analytics, allow attorneys nonpaper based alternatives to collaborate with other attorneys, paralegals and those they represent. This can often be done anywhere with Internet access and from almost any device.
Smart firms utilize these tools to increase billing and more efficiently manage cases.
Email Email seems basic, but for attorneys who want security on paper, it has been shunned.
Now, email can be encrypted, archived and accessed almost anywhere. This affords more coherent time tracking and billing, improves collaboration and scheduling, and reduces paperwork which can be the nemesis of many firms.
While we might not see attorneys arriving at the courthouse in flying cars or have witnesses beamed in from remote locations - such as in the Jetsons and Star Trek - anytime soon, technology is shaping the legal world to make it more beneficial and profitable for attorneys and more convenient for those they represent.
Todd Nielsen is chief strategy officer for JMark Business Solutions Inc. He can be reached at tnielsen@Jmark.com.
