This blog series has shown how digital communication tools such as instant messaging offer benefits that traditional communication channels lack, all of which have a strong business case alongside happier clients. Of course, another way to boost profits is to cut costs.
The pandemic forced remote working upon most businesses, including law firms. So if the cost of external phone calls wasn't enough before covid, it is now! With no face-to-face interaction the cost of calls would have sky-rocketed. The average cost of a small business phone system is £150-200 per handset. That's without the perks of conferencing, mobility, and interactive voice responses, etc.1
An interesting cost associated with phone calls is the time spent typing file notes. Surveys have found that a firm spends around £6,000 a year typing up file notes, adding up to a market of £60 million.2
Email is much cheaper with the humble Office 365 costing around £10 per month for 300 accounts.3 However, this excludes the significant cost of cybersecurity that is fundamental for email.
The cost of phone calls would reduce with the adoption of communication via client portal software. You can communicate with anyone on any device, and top-shelf encryption is built in at no extra cost. You also don't need to worry about how long you've been speaking for; your client's needs should be the only concern. You can also communicate with anyone in the world without the need to pay expensive international call tariffs.
By combining all these savings with the removal of the costs associated with the delays, security and inefficiencies linked to traditional communication channels, digital communication emerges as a clear means through which a firm can widen their profit margins. With a full-service platform like The Link App—which includes Omni-Channel Communication across any matter type—all these efficiencies are built in, transforming the way firms and clients interact at each stage of the case.
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:
Digital Transformation: Speed and Profit
Privacy, Security, and Convenience
The Secret to Work Efficiency? Instant Messaging
How Can You Attract More Clients and Keep Them?
How Can You Stay on Top of Client Communication?
How Does Better Collaboration Affect Your Bottom Line?
1 https://www.atlantech.net/blog/how-much-your-premises-based-phone-system-really-costs
2 https://askwonder.com/research/money-does-uk-law-firm-spend-per-annum-typing-file-notes-telephone-calls-nmjuk6azl
3 https://zapier.com/blog/best-email-hosting-services/
Originally published 27 / Aug / 2021
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