LegalTech and Clients: Building your Practice in the Digital Age
The current economic environment, triggered by the global pandemic and government lockdowns, has made the transition to partnership even more challenging than before. To counteract this, many lawyers have started using technology to improve efficiencies, increase profitability and attract new clients – an intrapreneurial approach that has resulted in great success over the past six months.
Contract analysis tools and other forms of automation assist legal professionals in matters such as due diligence, contract negotiation, knowledge management and compliance. Using this new generation of products can enable lawyers to offer new kinds of pitches to existing clients, attract new clients, increase profitability and ROI (particularly for fixed-fee cap work), and reduce employee churn.
When utilised effectively, AI has the potential to help enable legal professionals to reach their career goals, all the while enjoying a better work-life balance.
- How are businesses currently using technology to win new clients and retain existing clients?
- How are companies using technology to communicate effectively with clients?
- What legal tasks are likely to be automated in the near future?
- How can AI be used to increase profitability?