Legal technology comes in many shapes and forms—some are made especially for those in legal professions and some are made to be more general. Here are answers to three common questions about legal tech.
Legal firms, organizations, and professionals need to manage cases, automation, cross-team collaborations, finances, case progress, and track time. Legal technology and software can fill these needs, while keeping everything secure.
Some legal technology tools are made specifically for those in the legal field, while others are not as industry-specific.
Legal tech trends are rising: Gartner predicts that by 2025, legal departments will triple their spend on technology (full research available to clients).
To help your firm understand the importance of legal tech and its growing role in the legal industry, here are three commonly-asked questions about legal tech to help you get started.
1. What is legal tech?
Legal tech refers to the technology used by legal professionals at firms or in legal departments. And that can mean any technology.
This technology, such as legal case management software, legal calendar software, legal billing software, and legal research software, is designed with the legal professional in mind. These solutions cater to a law professional’s needs and typically platforms will provide multiple functions.
For example, PracticePanther Legal Software offers billing, case management, time and expense tracking, and scheduling functionalities.
Some law firms and professionals, however, might not need a software that is that comprehensive. Some technology might not be made specifically for law but can still be used in legal work.
For example, although monday.com was not made for lawyers, it can still serve as a case management system.
Legal tech is actually any technology that can help your law firm, department, or legal team function seamlessly and smoothly.
2. Why do you need legal tech?
The legal industry is not immune to the digital transformation happening in other industries, but has been resistant to change and new technology in the past. The pandemic, however, increased legal departments’ and professionals’ need for reliable tech solutions.
Now, those in the legal sector that were hesitant toward new technology are investing in legal tech and for good reason: It can improve productivity, efficacy, accuracy in compliance, and provide more value for clients (full research available to clients).
Legal tech can help newly remote legal staff do their jobs more reliably, automate routine tasks, ensure secure document sharing via cloud platforms, and help legal teams manage an increasing workload.
3. How do you choose legal tech that’s right for your business?
Once you decide to adopt legal tech for your firm or department, the next and most difficult step is choosing the right technology. The last thing you want is to invest in a technology that won’t do what you need it to do.
This is a challenge for nearly one out of three legal departments: 30% of legal departments report that the selection and adoption of legal tech remains their greatest weakness during the ongoing pandemic (full research available to clients).
Start this process by listing your needs. Do you need a solution to handle:
Accounting and billing?
Case management?
Scheduling?
All of the above?
Take note of your needs and then research solutions that fit your criteria. Keep in mind your budget, how many users will be using the software, and if it integrates with other applications, and always take advantage of free trials and demos.
Legal tech is the future
These three common questions can get you started on your legal tech journey, but this is only the beginning.
Finding how legal tech can work for your firm or legal department can be challenging but can help your firm stay competitive and adapt to an increasingly digital world (and clients’ digitally-fuelled expectations).
