Technology and Law Firms: Leveraging Legal Practice Management Software
The most successful law firms are turning to legal practice management software that empowers remote collaboration and exceptional client service, no matter where staff and clients are located.
According to the Industry Report: Survival or Evolution survey, law firms have invested in several tools to support their remote/hybrid staff.
- Video conferencing: 91%
- Teleconferencing: 78%
- Remote desktop system for local document management: 58%
- Cloud-based document management systems: 57%
Electronic payment processing is also on the rise in law practices — for both small and large transactions.
The benefits include a shorter collections cycle, account visibility, and client convenience – so it’s not surprising that electronic payment tools are becoming popular.
- 58% of law firms offer electronic payments — with estate/trust, family law, and tax practices being the biggest adopters.
- The most common transaction sizes are $500-$999 and $5,000 and up.
5 ways payment automation helps reduce outstanding receivables
Instantly access the infographic that walks through 5 ways automated payment processing systems help transform billing and invoicing processes.
10 rules to adopting legal technology at your firm
If the survey points to one conclusion, it is that modern law firms must adopt new tools to be successful. The following practices and standards are critical for staying competitive in a world where technology and automation have permanently elevated client expectations.
To survive and thrive, law firms must:
- Streamline operations to reduce costs and boost productivity. To stay profitable, law practices must find ways to increase their caseload without continually adding headcount. A platform that integrates legal document automation software, legal practice management software, and payment processing can help reduce the need for support staff while increasing productivity.
- Digitize workflows. Automating manual tasks like document assembly can reduce human error, eliminate paper, improve compliance and version control, and help recruit top talent who prioritize a modern workplace.
- Provide a competitive virtual client experience. In a marketplace crowded with new legal apps and representation options, clients are looking for white-glove service, 21st century-style. They expect to be able to upload documents, check case status updates and pay invoices online wherever they are and whenever they please. Secure communication platforms also build trust and keep the client feeling connected and satisfied.
- Support remote work. Pandemic or not, a busy law firm will have staff who use different programs, operating systems, and devices from a variety of locations. Advanced cloud-based tools are the key to remotely collaborating and managing the firm, whether in court, a client’s conference room or at home.
- Use one software platform that does it all. Rather than investing in multiple platforms that each handle different functions, and then managing a costly and complicated tech stack, firms will benefit by investing in one platform that handles all or most of the functions they need. This should include everything from legal case management to payment processing, legal document automation software and more.
- Be knowledgeable about data privacy compliance requirements. The American Bar Association (ABA) has issued a clear opinion that lawyers have an obligation to protect the security and confidentiality of privileged documents when they are transmitting them by email or other electronic means. Lawyers don’t need to be experts on pending compliance legislation, but they can work with a provider that helps them handle, transmit and store data appropriately.
- Practice advanced security. Encryption of data in transit and at rest, role-based access controls, state-of-the-art data centers and firewalls, ransomware defense, and backup and disaster recovery tools are not a luxury — they are mandatory in today’s cybercrime-ridden landscape.
- Leverage reporting tools. No law firm should be a black box. Reporting tools can yield data-driven insights on staff productivity, client profitability, and workflow bottlenecks. Firm partners can analyze granular data and see big picture patterns to create new management strategies, correct problems, and increase revenue.
- Prioritize integration. Operating a collection of tools that do not speak to each other leads to inaccurate documents, wasted hours, and duplicated work. Firms must choose platforms or legal practice management software that offer real-time synchronization or integration with the tools they use most.
- Future-proof their firm. Law firms close their doors all the time; even the biggest clients can go out of business. To build a strong foundation for the future, firms need to choose technology that can help them adapt to new client preferences and increase their caseload without hiring additional staff. They should also automate as many administrative tasks as possible so they can free up hours to focus on industry research, innovation, and growth.
The leader in legal practice management software
AbacusNext combines decades of legal software experience with next-generation cloud technologies unique in the market. Sophisticated solutions for legal practice management, payment processing, and document automation solve operational, compliance, and productivity challenges for law firms with an easy-to-use interface and state-of-the-art security.
Lawyers trust AbacusNext because:
- We help them offer exceptional client service, thanks to our secure client portal and electronic payment processing tools.
- Cloud flexibility lets them work from wherever they are – whether they are managing staff, meeting with clients, or drafting a contract.
- Tools for calendaring, case management, time tracking/billing and more transform their efficiency and productivity.
- They don’t need to pay for multiple products or multiple vendor support: our solutions do it all.
- World-class security, including state-of-the-art data centers, AES 256-bit encryption, ransomware defense and backup and disaster recovery tools protect their data while they focus on practicing law.
- Integration with QuickBooks, Office 365, Salesforce, DocuSign, PCLaw, TimeSlips, Tabs3, Juris and other platforms means they never need to duplicate work or jump between systems.
2022 Legal Practice Management Buyer’s Guide
Need help vetting the best legal practice management software? We can help. Download the free 2022 Legal Practice Management Buyer’s Guide today.
Contact AbacusNext for a free technology assessment, where we will analyze your firm’s current infrastructure, workflows, document storage and security controls and recommend a customized solution.