Future Trends In Law Firm Technology

Trust Accounting

The report Client Dynamics Driving Change in the Legal Profession, released by Robert Half Legal, points to a number of trends that law firms need to be aware of if they wish to remain competitive. Many of the points brought forth in the paper mesh with the design philosophy behind CosmoLex legal office management software. Here are some key sections from the report.

Modifying Law Practice Management Strategies — Clients demand greater efficiency from their law firms, efficiency that can be realized when using the latest software tools. Clients are also negotiating for alternate fee structures so billing software for lawyers must be ready to accommodate arrangements other than the standard billable hour.

Adapting To Globalization And Technology — Virtual law firms using cloud-based software are growing in popularity. It allows law firms to deliver value to their clients by cutting expenses, as well as keeping the practice scalable as client demands rise and fall. Dedicated legal technology platforms like CosmoLex cut overhead fees and give attorneys the flexibility to meet client needs.

Building New Legal Support Staffing Models — Law firms have always allocated work that doesn’t need an attorney’s attention to support staff, but the modern practice must be even more agile. CosmoLex’s rate tables make it easy to create hybrid positions that can bill an appropriate rate for the work actually done, and the timekeeper system allows you to track which staff members from a talent pool worked on a given matter.

Managing Remote Work Arrangements — CosmoLex’s cloud presence lets attorneys use the software from anywhere with an internet connection, and from any device including tablets and smartphones. While this can lead to a more efficient work flow and higher morale among the staff, firms also need to be aware of the pitfalls. Law firms need clearly defined telecommuting policies that protect client information and ensure the work claimed is being done.

Fostering Greater Collaboration Between Legal And IT — The report addresses how large firms are bringing their IT people into the legal fold rather than treating them as separate departments. However it doesn’t talk about smaller firms, who are often unable to hire IT staff and yet don’t have the knowhow in house to understand the new technology. Cloud-based solutions like CosmoLex are ideal for these firms, since we supply the IT experience you need to install and maintain the software.

Whether you have a brick and mortar practice or a virtual law firm, cloud-based legal practice management software is rapidly becoming an essential part a successful law office. Don’t get left behind. Embrace the technology you need to remain profitable.


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