New solutions and digital strategies can help law firms operate more efficiently, saving valuable resources and improving decision-making at all levels of the business.
The team of business analysts of our partner from Deltek, the manufacturer of Maconomy software for professional services companies, presents the most important benefits and reasons why it is worth automating processes within law firms.
Below are three ways that digital transformation will improve the execution of all activities within each law firm.
Get more revenue at lower costs
The right digital tools can help finance teams and business leaders make more informed decisions and predict potential losses and gains with greater confidence. For example, a quick, real-time view of the system to check the use of working time and paid hours can help leaders assess the most cost-effective actions (i. e. where to raise fees to effectively recover working time).
The automation of processes, such as the electronic flow of documents within the company, can also reduce operating costs and save valuable resources. Numerous studies show that the cost of printing paper documents can account for about 3% of a company’s total revenue.
Get and retain the best specialists
In today’s tough times, many companies compete with each other not only for customers, but also for the best employees. It is not only a question of employment, but also of meeting the expectations of employees, so that they want to remain in the structure of the company.
There is no doubt that companies offering the latest and fully flexible technologies remain the most attractive for potential employees. It is therefore worth investing in the best solutions for operating your business.
Acquire new customers by introducing new services
On many occasions, law firms gained new clients by referral, as well as by maintaining an appropriate level of activity. However, as the industry develops, so does competition. The implementation of new methods of operation will make the company more prosperous in the market.
New technologies can also support the development of companies in this field. First of all, integrating all information about leads into your ERP solution allows you to discover and respond to trends that are driving them. Process automation and all kinds of self-service platforms also help to create services that will help companies stand out in a crowded market.
