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With technology developing at an ever-increasing rate and AI working its way into every industry, its never been more important to focus on lawfirm innovation and technology trends. Read their answers below to set your lawfirm up for success in 2025 and beyond.
The legaltechnology company Litera said today that is has acquired Office & Dragons, a London-based company that develops documentautomation software for lawfirms and legal professionals.
Imagine a world where lawfirm clients add your services to their shopping carts as easily as a new pair of shoes. But, to date, the legal industry largely remains untouched. As more industries embrace online automation, the question whispered around the water cooler is: Will lawfirms follow suit?
The legal industry is steeped in tradition and established processes. While they will continue to serve lawyers and lawfirms, modern clients demand innovation. Lawfirm innovation must become a foundational part of your business strategy if you want to thrive in the legal environment of tomorrow.
In a unique partnership between a lawfirm and a legaltechnology company, the immigration firm Siskind Susser and its technology affiliate Visalaw.Ai The new product is being built on the NextChapter case management platform, adapted from the NextChapter bankruptcy platform that Fastcase acquired in 2019.
Choosing which legal software systems to use in your law practice is a big decision. New innovations in legal tech have become the great equalizer for many lawfirms, helping them output that’s competitive with other, larger lawfirms. But evaluating new technology can be a complex process.
The post Digital Transformation for LawFirms: A Guide to Modernizing Your Practice appeared first on Rocket Matter. Today, better and expedited access to legal services is simply a baseline to meet, not a privilege. The answer is simple: a lack of digital transformation in lawfirms.
One of the biggest changes is the introduction of legaltechnology. Law tech helps improve and streamline legal processes, ranging from documentautomation to artificial intelligence (AI) tools for legal research. In 2023, it’s crucial for big & small lawfirms to adapt to law tech.
New technologies are more reliable than ever, and not using them practically makes lawyers and other legal professionals lose a lot of money. Can you do the work without legaltechnologies? Losing time means losing money Every law practice, like every business, for that matter, has a limited time resource.
Lawfirms of all sizes are feeling pressure to meet client demand for both tailored services and greater efficiencies in this rapidly changing industry. Legal teams are being pressed to control costs and better respond to changing regulatory and risk management obligations. Increasing law practice specialization.
We discussed Clio’s greater focus on midsized lawfirms, its impending launch of generative AI, its roll-out of features for legal aid providers, and its rebranding of its Lawyaw documentautomation software. Learn more about Clio Manage and Clio Grow at the LawNext LegalTechnology Directory.
The majority of lawfirms use just five or fewer unique software products, according to a legal industry study published today by the law practice management company Smokeball. Documentautomation, 26%. PI and real estate firms spend the least time in software, 10% or less of their day.
Innovation is a buzzword that is often associated with tech startups and Silicon Valley, but it is becoming increasingly important in every industry, including the legal profession. One of the main reasons why innovation is so critical for lawfirms is that clients are becoming increasingly demanding.
Smokeball has an unusual name, to be sure; but, it actually comes from a famous legal case , which just about every substantive law-loving attorney can appreciate. (I Smokeball was founded in 2010 and has been adding useful features for lawfirms ever since. I love the smell of precedent in the morning.)
Consider using documentautomation tools to help streamline your workflow and produce more accurate documents faster. Documentautomation tools can help you create and manage documents more efficiently, which can save your firm time and money. How Do You Decide Which Documents to Automate?
AI is rapidly transforming legal work, with new AI solutions emerging to assist with everything from streamlining document review to optimizing caseload distribution and beyond. Increasingly, AI is giving legal professionals access to new knowledge and capabilities that were unthinkable just a few years ago.
A legal industry report released today by the sibling legaltechnology companies LawPay and MyCase provides unique insights into the technology tools that matter most to smaller lawfirms in the post-pandemic era. Other types of cloud software used by firms: Calendar management software, 44%.
The law practice management company MyCase has quietly acquired two legaltechnology companies in recent months, without announcing the acquisitions to the public. Around the same time, MyCase acquired Woodpecker , which provides legaldocumentautomation software for solo and small lawfirms.
In this blog, we’ll explore the biggest legaltechnology trends of the year and why upgrading your tools now isn’t just an option, but a necessity to stay competitive. How does Better Tech solve LawFirms’ Biggest Problems? From AI-powered contract analysis to cloud-based collaboration tools. Let’s dive in.
For many leaders who participated in this survey, the legal field is at a watershed moment that offers them the chance to reimagine lawfirm management and to influence a new era of success. And the results are consistent with that view: 90% explained that legaltechnology helps their firms increase revenue.
A common pain point for lawfirms is failing to track and invoice all reimbursable client expenses, resulting in losses to firm profits. Launching initially for MyCase, and later in other AffiniPay products, MyCase Smart Spend provides lawfirms with a LawPay-branded Visa credit card for their attorneys and staff.
Today, we are seeing the fruits of two of those acquisitions, as MyCase rolls out legal accounting as a fully integrated feature of its platform, as well as a robust documentautomation integration. Read more about MyCase at the LawNext LegalTechnology Directory. DocumentAutomation.
It’s happening right now, and it’s changing the way you practice law. Legal tech startups are disrupting traditional lawfirms and offering new ways to improve the efficiency and effectiveness of their services. Benefits of LegalTechnology Organizations These companies offer many benefits to lawfirms.
Abacus Payment Exchange (APX) is a proprietary tool that has been built from the ground up and engineered exclusively for lawfirms. If queried, most lawfirms would point to March of 2020 as the point in time that everything changed. APX is a unique offering to the legal community in many ways.
On this episode of How It Works : Woodpecker , AI-enabled legaldocumentautomation for solo and small firms. Melehy and his team of engineers and attorneys say they believe that generating accurate legaldocuments should not be something that consumes the resources of small lawfirms.
We expect to grow as the legal industry becomes more comfortable with AI. AltFee Elevator Pitch: AltFee revolutionizes lawfirm pricing by offering a foundation for alternative fee structures. Another example is our Directory of Alternative Fee Providing LawFirms. We have small and midsize lawfirm customers.
Similarly, lawfirms are finding success by focusing on a particular industry or area of law, such as real estate, environmental law, immigration, civil litigation or a host of other specialties. The upshot: When firms focus on one or a few specialty practice areas, both clients and lawfirms see benefits.
By utilizing lawfirm marketing automation. What is LegalAutomation? Legalautomation involves using software to automate the manual or routine tasks that many lawyers perform as part of their jobs. What Legal Processes Can Be Automated? Document execution.
Many of those firms are hoping to use legaltechnology like documentautomation to modernize their operations — to adapt current processes to be more efficient so that their teams can do more with existing resources rather than trying to hire their way out of the problem. Why Choose DocumentAutomation?
Paradigm says it has seen substantial growth in recent years as lawfirms have moved to cloud-based products, and that it currently serves 11,000 lawfirms. LawSites also broke the news in July that MyCase had acquired case management platform CASEpeer and documentautomation company Woodpecker.
another all-in-one practice management platform for immigration lawfirms. Docketwise will continue to be sold as a standalone product and will continue to integrate with other legal software providers. This acquisition offers an exciting opportunity to bring modern tools to a broader set of immigration lawfirms.”.
A new generative AI product for immigration lawyers announced today is designed to help them conduct research, draft and summarize complex legaldocuments, and engage with potential clients through a chat interface. Gen, a GPT-based legal research and summarization tool, built on a rich library of immigration content.
Lawfirms across the country are buzzing, and it feels suspiciously like 2008. Many firms are looking to optimize their operations and hunker down in anticipation of lean times. That optimization begins with a strong foundation of legaltechnology. To start, take a look at your current legaltechnology stack.
As more and more legaltech companies add their product listings to the LawNext LegalTechnology Directory , which we launched in February , I am periodically featuring the latest listings. “Quickly and easily plot deeds, tracts and legal descriptions by entering metes and bounds descriptions. . ” HotDocs.
This episode is a conversation with Spellbook co-founder Scott Stevenson about intersection of technology and creativity. Despite founding a legaltechnology company, Scott is not a lawyer but is computer engineer by training. Spellbook is a AI contract co-pilot for transactional lawyers that plugs into Microsoft Word.
In that time, Lawyerist has continued its mission to help solo and small lawfirm owners build healthier businesses. But after graduating from law school in 2011, she ended up at the small two-person family lawfirm where she had clerked. Now, the small team has increased by two. It’s really exciting.”
In her role as Director of Legal Innovation, she evaluates new technologies and implementation within the firm. She has overseen the implementation of their internal contract and documentautomation system, design and implementation of their client onboarding process, and the implementation of our corporate services solutions.
In the realms of legaltechnology and innovation, the pandemic had yielded silver linings – greater adoption of technology, more flexible workplaces, hybrid courts – that promised a future in which the legal profession and justice system would better serve those who need them. Legal tech went public.
DocumentAutomationDocumentautomation makes creating legaldocuments like contracts, NDAs, and settlement agreements faster and easier. Its a lifesaver for lawfirms or teams dealing with tons of paperwork. Are LawFirms Keeping Up With AI Technology? The good news?
The majority of lawfirms use just five or fewer unique software products, according to a legal industry study published today by the law practice management company Smokeball. Documentautomation, 26%. PI and real estate firms spend the least time in software, 10% or less of their day.
In the end, it turns out that lawyers can escape some of this madness any time, simply by delegating certain responsibilities, including phone call answering, to specialized providers like Ruby , a premier virtual receptionist service for lawfirms. One of the more obvious places a lawfirm would delegate is telephone reception.
For many leaders who participated in this survey, the legal field is at a watershed moment that offers them the chance to reimagine lawfirm management and to influence a new era of success. And the results are consistent with that view: 90% explained that legaltechnology helps their firms increase revenue.
The investment in the legaltechnology market has profoundly impacted the legal industry over the last few years. The market size of legal tech is ballooning , underscoring the demand for innovative legal software and its growth potential. Working smarter, not harder, means embracing technological advancements.
MyCase , a long-standing case management software provider, has established itself as an effective all-in-one solution for lawfirms, jam-packed with in-house features. Now, in step with the growth of the legal tech space overall, the MyCase universe is beginning to expand. to its stable. integration and that Smith.ai
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