Published on December 24, 2013
Pushing the Limits Maximising law firm profits through the right IT
2013- The trends that shaped the legal sector this year • The emergence of new business models January 2012- the Solicitors Regulation Authority allow commercial entities to set up Alternative Business Structures and enter the legal market. May 2013- around 140 ABS applications have been approved (Post Online).
2013- The trends that shaped the legal sector this year • The industry consolidates As law firms struggle to increase revenue and enter new markets, the industry sees more Mergers & Acquisitions. • More business for smaller law firms Large companies give choose the services of midsized law firms as they look to decrease their legal expenditure (the Corporate Executive Board).
2013- The trends that shaped the legal sector this year • Social networking Trying to reach prospects and up their marketing, more law firms have built a presence on social media. The number of lawyers with an active account on social channels has increased by 4% (2013 American Bar Association).
2013- The trends that shaped the legal sector this year • Investing selectively in legal technologies Case management software and e-billing technologies listed as the most popular IT solutions in 2013 by the Corporate Executive Board.
“There is a growing recognition that technology will play an increasingly central role in the emerging legal environment.” ROHIT TALWAR The Raconteur
More power to your clients Technology like the Internet and mobile devices put your clients in control by giving them: - Free access to information and to a larger pool of legal services suppliers - More influence via social media- simple statements and opinions can spread like wildfire on Twitter, LinkedIn and other social channels.
More power to your clients The moral Client satisfaction can no longer be assigned secondary importance.
More power to you The only reason why you should adopt a new technology is to enhance your profitability.
More power to you The right IT solutions should help you: Spend less time doing admin work Dedicate more time to income-generating tasks. Save & make more money in the process
Getting IT right. Selecting the IT solutions you really need.
1) Case management software Manage work efficiently
Case management software enables you to: ‘’One of the most convenient factors of implementing such a system is the fact that more than one person can view case documents at any one time.’’ IT Director, Tees Solicitors.
Case management software Manage all your cases, matters and associated documents in one system. Automate manual, repetitive tasks such as the filling out of forms. Assign tasks and monitor the efficiency of each fee earner Get actionable statistics reflecting the performance of your firm Want to learn more? Visit www.dpssoftware.co.uk
2) Legal accounting software Put your accounts department at the heart of your law firm
Legal accounts software Never lose touch with your money Get ad-hoc and scheduled reporting of key financial information Provide a common working platform for both fee earners and the legal accounts staff Automate online bill submissions Digitise billing and payment request systems Get paid quicker
Legal accounts software The money link What you need is…. - a product that works, looks great and is user friendly. Download our white paper to learn more…
3) Digital dictation A more flexible way of working
Digital dictation software Main benefits The main advantage of the system is the possibility to work on the go. Dictate from any remote location, be it home, court or conferences, irrespective of the existence of an Internet connection. Enhanced data security: The dictations are only accessible to the person dictating and the secretaries that these are sent to.
Digital dictation software Main benefits Faster turnaround: As dictations are sent electronically, the transcription work can begin before you even get to the office thus speeding up the progress of a case or matter.
Digital dictation software Main benefits Reduce your law firm’s paper consumption and the costs associated with it.
Digital dictation software Want to learn more? Download our white paper to learn more…
4) Client portal solutions Communicate, collaborate, succeed
Client portal solutions Main benefits Facilitate the collaboration between all the parties involved in a case • • • Fee earners Clients Estate agents, other stakeholders. by enabling them to update and transfer case-related documents, electronically in real-time.
Client portal solutions Main benefits Collaboration at no costs All the documents exchanged are secured and cannot be read or modified unless the user was given the right to. Client portal solutions are far more sophisticated than free documentsharing platforms in terms of security.
Client portal solutions Main benefits Less paper usage and lower postage costs- As documents are sent electronically you don’t need to print and mail as many letters as before.
Client portal solutions Main benefits The money equation
Thank you For more information and free resources visit www.dpssoftware.co.uk
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