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BK Blog Post
Running a small law practices efficiently is always a challenge. They face numerous obstacles and challenges that must be overcome for them to achieve some meaningful success, especially if they concentrate on personal injury cases. The larger and traditionally conservative in most cases prevent the smaller ones from operating optimally. The small firms may have very good structures and experienced personnel but are overshadowed therefore end up losing potential clients. The weak cost-cutting initiatives that have been used for the last half a century have kept the industry from growing or gaining efficiency.
This is now changing, thanks to legal tech, an innovative way to make law firms run efficiently by applying technology in their operations. There are several legal tech startups out to disrupt the norm and create a new way of doing legal business. They are developing ground breaking applications aimed at transforming the legal practice. With this technology, legal firms can efficiently manage the practice, handle document storage efficiently using data rooms, manage billing and accounting in addition to electronic discovery.
Over the last few years, the application has been developed into an online application that might even reduce or eliminate the need for lawyer consultation. The technology connects people with lawyers in an efficient online marketplace where clients can match up with the right lawyers whenever they are in need. This gives lawyers, even more, incentives to join the technology and be found. It removes a lot of burden for the client and the lawyer and takes away the hassle of marketing. When lawyers keep abreast with technology, they become competitive and on the heels of innovation where the rewards are better than the traditional systems.
Beating the challenges
Legal practices, especially the small ones face some challenges. The biggest of them is getting new clients in the face of stiff competition and an increasingly enlightened client base. Landing quality clients who pay well, on time, and send referrals is rather challenging. The other issue is managing the new clients while working on serving the old ones as professionally as possible. It is not easy managing priority and making the difficult decisions. If not handled carefully, this could lead to challenges of time management since it is tough juggling many hats. Using legal tech takes away the administrative and routine tasks leaving you space and time to do what matters to building the practice.
Legal virtual data room tech makes it easy to bill clients for time without forgetting or losing records. With this technology, even a small firm can manage a large case that would require a lot of personnel. This gives every firm an equal footing to go against even the largest insurance firms which would rather pay for litigation than settle. The system will manage your billing and remind you to collect what’s due and manage your diary so efficiently a secretary will not be necessary. This works to the advantage of a small firm that seeks to manage costs, manage staff, and manage clients while focusing on financial growth. You can achieve all these while keeping your mental and physical health within the normal range.
The upside of legal tech
Technology has rapidly changed the way we send and receive information and significantly impacted how law practices are managed. Using legal tech together with data rooms makes it easy to access your client and case files wherever you are. There is no need to physically be present in your office to gain access to documents when you need them. A lawyer can use his iPad while in court to simplify his work without having to deal with paper clutter.
There has been a lot of development already in the use of technology in legal practice. Mobile technology has already made significant inroads in the daily operations of lawyers, adding legal tech will come in to complete the circle for those lawyers who have already embraced technology. Technology saves resources, time, helps in managing finances, clients and cases while allowing you time to spend with your family.
There are many tools and apps a law practice can use to manage daily tasks and automate some for increased efficiency. You can stay on top of your schedule. Applications like Google Drive helps in synchronizing your files across many devices and allows you to edit documents directly from your handheld device. Dropbox is another great application that can make it efficient managing a small law practice. Using the cloud-based storage increases accessibility to your documents from any location in the world. This cuts on costs and time and makes law practices operate efficiently.
The use of data rooms to house data has brought about a significant development in how documents are stored and accessed. They provide secure storage of privileged data in physical data rooms, data centers, or virtual data rooms for instant access anywhere you are. A legal practice can store documents, exchange documents, share files, carry out financial transactions, and legal transactions among others.
Using apps like iCap, Google Calendar, and Docent law, you can create events and deadlines to help manage your schedules and make your life seamless. Docket law easily integrates with calendar apps and is color-coded for easy arrangement of events in categories and priority. And since communication is essential to any law practice, you don’t have to email clients individually, just use a mailing app like MailChimp to send emails to categories of clients and to never again send an email to the wrong client. Keep all internal communications organized and secure with legal tech. You no longer need to use paper memos that can get lost easily. Integrate everything into one manageable legal tech to manage at the touch of a button. And while in the field or a meeting, you can take notes, pictures, and scan business cards with Evernote and arrange everything chronologically and in folders for easy access. You will never lose a client’s contact again.
Legal tech has a lot of potential for any legal practice, small or large. It makes managing many routine operations and administrative tasks easy. It is time legal practices adopt the use of technology and in particular, legal tech and data rooms to operate efficiently, whether they have only a few or many clients.
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