Legaltech: technological transformation in law firms
The technological transformation of law firms is the talk of the town. Legaltech It’s the buzzword in the sector and, although there are some good specialists in this country, the norm tends to be charlatanism and deception. As you’d expect.
Today’s lawyers, far from being mere spectators, must become part of the business world as genuine team members. They are full partners, committed to the projects they champion and laying the groundwork for every Start-up worth its salt. Against this backdrop of disruption in the economy and the market, technological expertise stands out as the key source of added value.
The sustainability of law firms depends on the effective implementation of the legal tech. Internationalisation, technological transformation and total immersion in the very heart of the firm require sound technological rigour. The ability to adapt to the disruptive changes that have swept through the legal sector, driven by the evolving needs of the contemporary client, compels law firms to align themselves with a process of transformation from which there is no escape.
It is not simply a matter of streamlining or automating law firms’ internal processes to become more efficient, but of completely transforming the way the legal profession is practised.
In this regard, it is important to realise that it is by no means enough simply to be proficient in the CRM system of the moment, to be the Lionel Messi of “PowerPoint” and to have a good internet connection and a smart Apple computer; you have to go far beyond that.
Transformation means embracing the complete abstraction of the legal profession
Law firms need to reflect on their entire physical existence, given that the workplace tends to intangible. The Cloud It’s the hub where everything happens, to the detriment of the office. An hour-and-a-half-long commute every morning just to get to the office? Parking in a paid parking zone, with your cortisol levels through the roof, struggling to arrive on time only to sit in front of a screen that insolently throws a positive quote at you? No, thank you! It doesn’t seem very reasonable, possible or likely to think that a person is capable of becoming the best version of themselves under such working conditions, which are anachronistic for the age we live in. It’s ridiculous to imagine that they could.
How will it be possible to retain talent? legal tech Confining brilliant minds to a physical space? The scenes of gruelling daily commutes – by train, underground, rail, in a car, with the hassle of parking and early mornings thrown in – are repeated over and over again. In this regard, it does not appear that law firms can demonstrate either technological implementation or a coherent or effective digital transformation. They remain mired in the same old anachronism, however much they may proclaim themselves to be ‘modern firms’ ’legaltech'.
How absurd these legal infrastructures of biblical proportions become, crammed with ambitious and exhausted lawyers fighting so hard for a place on the firm’s roster that their minds are overwhelmed. Veritable temples of the legal profession where geniuses (and not-so-geniuses) are moulded in the image and likeness of all-powerful, antiquated barons of the Law; outdated dinosaurs who, incongruously, fly the banner of “excellence in’ ”Legaltech”. Unbelievable. It’s a world turned upside down… But, as is often the case in life, there are still those who believe in the little green men and, in a true act of faith, place their trust in that mythical place without considering the risk involved in putting themselves in the hands of any one of the hundreds of people who live there.
The Spanish legal sector is undergoing a process of absolute, sweeping and total transformation
For a Start-up For an emerging firm seeking to thrive and expand its market niche, it can be detrimental to place itself in the hands of a large, traditional law firm of colossal proportions, as this will (obviously) result in its fees reflecting the stratospheric fixed costs it incurs – costs that can overwhelm even the most financially sound business owner. For these modern companies, a good option may be to engage a modern law firm legal tech that it acts as an extension of its own team rather than as a separate entity.
Good service is personalised service: Bespoke, tailor-made. A team comprising the client and their law firm – with whom they share ideas and maintain an ongoing relationship and constant multi-channel contact – is more likely to successfully achieve the desired objectives. Unity is strength.
In this arrangement, the client and the solicitor meet wherever and whenever the client needs to.
The essence of this partnership lies in the immediacy and effectiveness of the solutions. The physical location where legal practice is carried out is what adds the least value. It is the quality of service and talent that truly make the difference. The modern client knows this all too well. Their expectations and legal knowledge have reached levels never seen before. For this reason, they demand legal support 24 hours a day, 365 days a year, and to have their partner close by in business and in life, understanding that distance is not measured in kilometres, but in waiting time. In minutes.
How can the business model be adapted to the legaltech landscape in law firms?
The answer seems simple, but in practice it proves extremely difficult. To align the legal business model with technological reality, the way we operate must be completely transformed. The Millennials have a lot to say on the matter. The key is to offer creative legal solutions at competitive prices and to embrace the digital sphere wholeheartedly.
Despite all this, there are countless law firms which, whilst advertising themselves as cutting-edge and tech-savvy, do not dare to change. The fact is that decades upon decades of legal routine can prove an insurmountable handicap. It is never easy to unlearn when you feel you are everyone’s teacher. Digital illiteracy has now become Goliath’s Achilles’ heel.
In this regard, law firms’ ability to retain talent necessarily involves offering a new way of practising the profession. Working hours – which are now obsolete and have been rendered obsolete by constant contact with clients – are an insurmountable obstacle for restless minds.
In today’s globalised world, the work of the modern lawyer cannot in any way be tied to a specific time zone. Remote working and the use of ICT, with results as the sole valid measure of success. Efficiency.
To sum up: legal excellence is no longer enough. A law firm – and, by extension, its lawyers – must offer clients so much more: the ability to conduct themselves with dignity, so that they are always there for their clients.
In an industry where empty rhetoric and pomposity are the order of the day, it is worth considering whether all the ‘added value’ and ‘specialisation’ on offer in the market are of any use once the marketing hype ends and real life begins. When the most celebrated partners at the finest and most reputable law firm are unable to speak English without making people laugh, yet still manage to sell legal solutions on an international scale.
Laura Bachs
laura@aurisadvocats.com
Specialties:
Law of New Technologies, Data Protection and Procedural Law.