The legal community is often seen as a conservative one that is reluctant to embrace change. However, that perception is changing, with over 30% of law firms surveyed by Aderant stating that they have a person dedicated to law firm innovation. The field of law is constantly evolving, and there are some recurring trends that seem to be at the forefront of law firm innovation. To learn more about the potential advances in the legal field and how your firm can take advantage of these changes, reach out to a legal technology company today.
“No Touch” Law Firm Invoicing
One potential new technology in the legal sphere is the advent of “no touch” law firm invoicing. The potential for artificial intelligence to do invoicing for attorneys represents an exciting technological advancement. Programs such as Outlook already keep many digital calendars up to date with meetings and phone calls, and other software can track how long you work on a memo or do research online. An AI program can combine these actions into a timesheet that the lawyer would only need to review for accuracy before submitting to the firm.
Litigation Pricing Based on Big Data
Big data is revolutionizing almost every industry, and the legal community is no exception. Time entry can be mined for big data that could help programs run pricing models with up to an 80% accuracy for even the most complex litigation cases. The more data provided, the more accurate these programs could be for firms looking to provide the most accurate budget for their back office and for their clients.
Evolving Skills and Roles of Law Firm Staff
With the advent of legal technology, law firm staff is also evolving to fit the new technological needs of the firm. In the past, staff was relegated to book research and typing correspondence, memos, or orders for court. Now, e-billing tools like Aderant’s BillBlast requires staff to take a more active role in technology and in utilizing the programs law firms are incorporating into their day-to-day activities.
Aligning Back and Front Offices
Another prediction for the future of law is better alignment of back and front offices. The front office is the attorneys, working on cases for clients and serving as the face of the firm. The back office is typically separated by practice type and is dedicated to the finances and marketing of their group. As front and back offices align, there will be greater proficiency and efficiency in business development, finances, and marketing strategies for the firm.
Embracing the Cultural Shift to Innovation
The last big prediction for the future of law is the cultural shift in law firm practice away from traditionalism and toward innovation. As technology allows for a more efficient firm and for the implementation of money saving measures, and as the baby boomers retire and Gen X and Millennial attorneys take over, it is predicted that law firms will begin to embrace law firm innovation more and more. We may be coming close to a time in which the legal community is no longer seen as stuck in the past but as a leader in technology and innovation.