Now that 2021 is well underway, law firms and legal organisations may find they still have the same challenges as they did in 2020! These include-
- Investing in New Technologies – Should you? If so, why, and what for? Can you ensure ROI from that investment?
- Delivering a High-Value Service – How can you maintain or improve this, whilst increasing Client satisfaction and retention?
- Maintaining Competitive Advantage – How can you do this, and implement it cost effectively?
- Doing More with Less – Might be a cliché, but still rings true for many law firms, what can help you do this?
- Successful Digital Transformation – Where do you start? What does this even mean to a law firm? Are you doing it already?
It’s going to come as no surprise when I say Document Automation can help you with all these challenges and a lot more.
For those of you reading this, you might be thinking – ‘That’s great, but what exactly is Document Automation?’ One of our previous blog posts will go into a bit more detail about this, but in a nutshell, Document Automation is about automating the creation of documents, or ‘templates’, as they’re commonly known – these could be contracts, commercial agreements, basically any communication or content that you deliver via your favourite Office applications.
The Good Stuff
So, looking at the above challenges, how exactly can Document Automation help you with these?
The benefits of Document Automation are many, but particularly for a law firm, having a fast and efficient Document Automation solution is one of the most effective tools to grow your practice, whilst retaining a high level of quality and professional service for your Clients.
Investing in new technology such as Document Automation technology, enables you to provide higher value and undertake more complex tasks for your Clients quickly and easily. They will receive a high-value service from you, without compromising on quality. In other words, you will be able to offer Clients the same high-quality service, but at a much faster pace. In 2021, the ‘Client Experience’ will be paramount.
As well as driving competitiveness, investing in technology can help law firms reduce costs and mitigate risk. As your documents are created in a controlled and productive manner, you can be assured the high quality is consistently maintained, helping to meet your regulatory requirements.
You can also consider attractive commercial terms for your Clients and will be able to further leverage your chargeable services with multiple repeating revenue streams.
Document Automation can not only help you optimise workflows, improve productivity and efficiency, it also gives you the ability to do more with less, allowing you to be flexible, and able to meet market demand – E-signing for example, is an area which will become the norm in 2021, and select Document Automation solutions include this functionality.
Document Automation is one of the most impactful and accessible Digital Transformation capabilities available to law firms, which can generate significant ROI, yet given the analysis by many legal tech commentators and our own research, it’s an area that is largely unused by the legal sector.
So Why Doesn’t the Legal Sector Fully Embrace This?
Document Automation has traditionally been costly, time intensive, and complex to implement, however there are a number of powerful, effective solutions on the market right now that are not only highly affordable but can be up and running in hours and not days.
Let’s look at a few different scenarios – do any of them resonate with you?
Law Firm ‘A’ already has a Document Automation solution. They feel they’re not getting the most out of it and it’s no longer meeting their needs, but they don’t really know what to do. They know there are many Document Automation vendors in the marketplace, but if they move, they’re worried that all the data and templates they have in their system will be lost, or it will be too difficult to ‘re-learn’ another platform.
Law Firm ‘B’ is also using a platform which doesn’t meet their needs. They want to maintain their existing licenses for the solution, including their template database and data files, but they don’t know what their options are.
Law Firm ‘C’ has vaguely heard of Document Automation and they’ve looked at a few solutions already but are baffled by the huge array of vendors out there and need advice about what solution(s) they should consider for their specific needs, in order to justify the ROI from the technology.
All these scenarios can be addressed and easily overcome.
There are a number of low risk, cost effective, proven Document Automation solutions out there. The key to selecting the right one is ensuring you fully understand what your law firm or legal organisation needs today and tomorrow, and that the chosen solution is built in a way to not only support this, but offers additional ways in which you can increase your operational effectiveness.
The challenges the legal sector faces in 2021 will be the catalyst for meaningful change as marketing, innovation, and technology drive growth in modern legal practices. The competitive landscape is changing, and lawyers will need to rethink the way they deliver legal services to create a sustainable, profitable practice in the coming years.
What Should Your Next Step Be?
Registering for our webinar!
We are taking you right back to basics with an 18-minute webinar on Wed 10th Feb 2021 at 3PM GMT (10AM EST, 07AM PST) –
Document Automation 1-0-1 & Why the Legal Sector Should Be Interested
REGISTER NOW and learn –
- What Document Automation is, and what it means for you and your Clients.
- How it can benefit you on a day-to-day basis.
- What you should look for in a Document Automation solution, and what a bad one looks like!
- Why a good product does not always equal a good solution.
The (small) Sales Pitch at the End
As Trusted Advisors to a number of prominent Law Firms and Corporate Law, DocGovern can support you with your 2021 challenges.
Working with small boutique law firms and some of the largest law practices in the world, our experience and relationships throughout Legal Technology can assist your business objectives dependent on your specific needs and budget.
Whether you currently use Document Automation or not, get in touch with us today and schedule a free one-to-one consultation, or take a look at our Resources & Content for the Legal sector, to give you more help and support with your 2021 challenges.