Digital transformation is changing how people work. But the legal industry lags behind in adopting these tools and reaping the benefits.
Digital transformation affects your bottom line. It automates the admin out of your day so you can focus on the most valuable work you do. In this series we’ll explore how you can take your firm through a digital transformation project from digital client onboarding, to security, communication, and delivering an outstanding client experience.
Digital transformation is no longer a buzzword, but a growing reality. Your clients are customers and they expect two-day delivery on anything, at any time. Why should they wait days or weeks for a document? The legal profession needs to adapt to these new expectations. With the right technology, your firm can exceed them.
Email is not the way forward and here’s why
Many law firms rely on email and phone calls as their main communication channels. But if your clients are busy, they can put that to one side, and emails can get lost in the shuffle. You're fighting for your client's time and attention in a world of distraction. Worse still: if your client isn't glued to their email, there's no guarantee of a reply coming soon if at all.
To put it simply:
- The average response time for emails is 12 hours.
- Lawyers waste valuable time waiting on responses or chasing clients to respond. The whole case often comes to a halt until they receive that much-needed response or document.
- Lawyers may even have to delegate the chasing to paralegals or fee-earners. This is more money burning aside from the time you've lost.
The problem in practice
Imagine your law firm has 20 fee-earners with a billing rate of £150 per hour. If each lawyer spends fifteen minutes a day chasing responses via email or even telephone, that's £3,750 a week they could have spent doing anything else. That's £180,000 a year. This kind of money is being lost even in small firms, just because of the delays in the usual channels.
A streamlined digital experience is the speedy alternative to email and telephone. A quarter of the world uses some form of messaging app on their mobile. Unlike email, instant messaging offers speed of delivery and response. A recent survey found that the average response time to an instant message is 2 minutes and 40 seconds. That would free up over 11 hours to do profitable work or otherwise cut through the busywork faster. You get more money in the bank, your client gets a faster service they'll remember next time they need help.
One for the skeptics
Consider a fee-earner who sends 20 emails per case or transaction which needs at least one reply. Each email sent risks a twelve-hour delay. Over the course of the entire case or transaction, this could delay the whole thing by 10 days.
There are two problems this creates:
- The perception of poor service because of the time it took to get responses, put work down, and pick work up again.
- The firm waits 10 days longer for each case or transaction to get paid.
Speed is something you shouldn't underrate in law firms; clients don't. Here's where you'll find the low-hanging fruit that'll get you the most profit for the least effort. It's the first, easiest site of digital transformation.
The Link App was created to transform the client experience provided by law firms, giving the traditional profession a modern approach. We drive the industry forward through convenient and secure communications, digital onboarding, case tracking and document sharing between legal professionals and their clients.
Book a short demo to see why 75% of lawyers who do begin transforming their firm using our product within 30 days. Find out how you can easily make steps towards a digital offering at your firm today.
Other blogs in this series:
Originally published 01 / Jul / 2021