According to YouGov, almost 50% of UK lawyers are using technology that does not meet their needs, and many say the technology they do use is creating more work than it saves.
As a result, far too many lawyers are spending much of their valuable time on routine, mechanical drafting – an activity that is repetitive, laborious, and inefficient.
In order to succeed in today’s competitive marketplace and deliver the level of service that customers now demand, law firms recognise that they cannot continue to operate in this way. It’s time for a new technology that truly delivers.
This article offers a checklist for industry leaders looking to optimise their lawyers’ time, increase their Return on the Lawyer (ROL), and achieve a step change in performance and profitability.
Law firms can grow margins and win new business by making far better use of their lawyers’ valuable time. Using intelligent drafting technology frees them from routine, mechanical and inefficient drafting activities, enabling them to handle more matters, and focus on higher value client-facing work. The value that each lawyer generates for the firm increases. This is what we mean by Return on the Lawyer (ROL).
Automation technology has moved on from traditional document automation toolkits, but many law firms have not. It’s still all too common to see even the most senior lawyers bogged down in the repetitive, routine aspects of document drafting.
To understand whether you are using the most effective solution, ask yourself:
Traditional document automation has now been superseded by intelligent drafting technology: an approach that automates the entire legal transaction in a structured way.
Intelligent drafting technology is revolutionising document drafting for forward-thinking firms, enabling them to vastly increase their Return on the Lawyer (ROL) and to position themselves as best-in-class.
Intelligent drafting technology achieves this because:
As a result, law firms are able to:
A managed service approach means the software provider handles the entire automation project for you, from conception through to development, implementation, and ongoing maintenance. This removes the burden on internal resources and speeds up your time to value. Traditional document automation toolkits create a significant maintenance overhead, especially when automation projects are trying to save a material amount of time or generate a suite of documents.
Unlike traditional toolkits that can take months or even years to implement, intelligent drafting technology can be deployed within a matter of weeks. This means you will experience the benefits 4-5 times quicker than if you took on the automation project yourself. Every week saved in implementation time positively impacts the total cost of ownership and resulting ROI.
Intelligent drafting technology from Clarilis offers law firms an opportunity to transform the way their lawyers work by automating the time-consuming drafting activities that even senior fee earners are often bogged down in.
By sweeping away inefficient drafting processes, law firms can increase productivity and the resultant revenue, as many more matters can be handled. Lawyers are also freed up to focus on higher value client-facing work, which boosts earnings further and also improves the client experience.
Fee earners’ time is optimised and their full value is realised, increasing Return on the Lawyer and positioning the firm to be more profitable, efficient, and competitive.
Want to know more about growing revenue by boosting Return on the Lawyer? Download the ROL eGuide