The legal industry is a fast-paced and constantly changing profession. New technology, client demands and other factors can change how a law firm operates in a matter of quarters. That is why many companies and individuals are starting to take a look at the idea of law new as an alternative to traditional practice.
The Legal Industry Will Become More Holistic, Tech-Enabled and Collaborative
There is no doubt that the speed of business, complex global challenges, and rapid social change are driving an evolution in the way law is delivered. It is a journey that requires a paradigm shift from provider to customer-centricity.
This will require an end-to-end legal function that is more integrated, data-centric and cross-functional. It will be able to better address the needs and expectations of customers by providing accessible, affordable, on-demand, scalable, and solutions-based legal products and services.
Platforms will play a central role in shaping this transformation. They will be a secure repository of collective expertise, experience, and data to help provide faster, more practical, and predictable solutions to “bespoke” legal matters.
It will also be a place to collaborate on the development of new products and services that can help solve complex, fast-paced challenges at the speed of business and society. This will involve the legal function working with other parts of an enterprise, across industries, and with other stakeholders and organizations outside the business in ways that are often unheard of in the past.
The Legal Industry Will Be More Holistic, Tech-Enabled, and Collaborative
A more holistic, team-oriented, customer-centric, integrated workforce will be more diverse–cognitively, demographically, culturally, and experientially. This will include more creative, tech and data-proficient, empathetic, and collaborative professionals.
They will be able to work together in the context of a single, customer-centric delivery model. This model will not be driven by profit; it will be fueled by output and net promoter score.
Rather, the legal function will be a part of an integrated business unit that will deliver a more streamlined and effective service to clients through improved processes and better use of technology. This will enable a more seamless and streamlined process that will improve the overall legal experience and customer outcomes.
The end result will be a more innovative, agile, efficient, and cost-effective legal services model that produces higher net promoter scores than the legacy economic models built on inputs. This will drive innovation in the long run.
It will be a place to collaborate on the development and delivery of new products and services that can help solve fast-paced challenges at the speed of business. This will include the legal function working with other parts of an organization, across industries, and with other stakeholders and organisations outside the business in ways that are often unheard or less used in the past.
The legal function will be a part of an integral and fully integrated business unit that will deliver a more seamless and effective service to clients through improved processes and a better use of technology. This will enable fewer people to do more things at the same time, a more productive work environment, and a more positive experience for all parties involved.