Great Tech for Lawyers: Part 2

Today, most law firms use technology tools to improve efficiency and work more securely in an increasingly remote office. Although not every firm needs the same type of tech stack, it’s a good idea to start with the basics and add additional features to help the firm grow and become more profitable. One of the most common tools modern law firms use is legal practice management software. Read on for a continued discussion of some of the best legal tech tools.

Automated Time and Billing Tracking

One of the most critical factors that a law firm needs to consider when it comes to profitability is its time and billing accuracy -having a lot of time dedicated to manually monitoring these two critical aspects can take away from the productivity of its lawyers.

If you’re not using lawyer tools to manage time and billing, you might want to look into practice management software with features that can help with this issue. For instance, if you’re a lawyer looking for a great time and billing solution, you might want to use a software called Clio Manage.

Digital Discovery Software

Due to the increasing number of electronic discovery cases, lawyers can now use technology tools to streamline the discovery process. With the help of these tools, they can save time and effort by reducing the number of documents they have to produce.

One of the most popular tools lawyers use to manage their documents is the Instant Discovery software by Logikcull. This cloud-based program can automate thousands of manual steps, such as virus scanning and Bates Stamping.

Online Client Portals

One of the most popular online client portals that lawyers use is called Clio for Clients, allowing them to share documents and messages with their clients securely. This eliminates the need for them to update their clients’ cases manually.

According to a 2020 Legal Trends Report, online client portals are becoming more critical tools for lawyers as they can access more data during the COVID-19 pandemic.

The report also noted that law firms that use online client portals could minimize the pandemic’s impact on their caseloads by 5% in April. They outperformed their counterparts who didn’t use these tools in the following months. In terms of revenue growth, the report also noted that the firms operating online client portals outperformed their counterparts during the outbreak.

Conclusion

The right tools can help a firm grow and become more profitable. Having the proper tools can help lawyers focus on their clients and make the firm more efficient. Although plenty of tools are available for lawyers, it’s not necessary to have all of them at once. Having a good tech stack can help a lawyer start a new practice. Ensure that the tools you choose are secure. Having the proper tools can help lawyers focus on their clients and make the firm more profitable.

Originally published at https://chartwestcott.org on October 18, 2022.

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Chart Westcott

Chart Westcott is Co-Founder and COO at Ikarian Capital, LLC a long/short equity biotech focused investment adviser. Read more at http://chartwestcott.net.