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A Digital Lawyer #2: Leveraging the “new normal” in the legal industry

Industry news on legal tech, digital transformation & innovation in law and professional growth.

In this month’s Digital Lawyer:

Digital transformation and innovation in law

#1

The current crisis helps leveraging the “new normal” to develop new ways to deliver legal services. HBR consulting states: “To succeed and emerge stronger, legal organizations must enhance alignment in multiple crucial areas: alignment with client value; alignment of internal strategy; alignment among teams and adjusting to extended remote collaboration; and alignment with processes to optimize cross-organizational efficiency.

Law departments and law firms that calibrate along these key dimensions and further transform how legal services are delivered will emerge stronger and better positioned coming out of this crisis.”

#2

Legal transformation can be easier initiated in an innovation-friendly environment. One of the methods to start transforming your law practice is design thinking, a method used to understand clients’ needs and start delivering services accordingly. 

In this article legal service experts Lina Krawietz, Stephan Kaufmann, and Sebastian Hartmann provide practical tips and resources for running design thinking workshops using virtual formats and collaboration tools in your law firm. This method is aimed to understand which solutions are needed right now and in the emerging recession and how to deliver them digitally, what a digital business model would look like for a solution and how to run the firm within these changes.

Legal tech industry news

#3

Law firms are under pressure to cut costs, especially in the current situation when transactions are put on hold or aborted. This is where Alternative Legal Service Providers (ALSPs) such as due diligence services and contract management come in.
More often ALSPs are seen as an opportunity for law firms, not a competition, to improve internal processes, optimise routine tasks, and provide better results for clients. Check the results of Thomson Reuters’ research on the Alternative Legal Service market to learn how these solutions are used by corporate clients and by law firms.

#4

One of the examples of how ALSPs can be used to strengthen the law firm’s value for clients is to productise legal services. It’s an uncommon practice for lawyers to offer their services on a project base or with fixed pricing instead of billable hours. However, many legal services can be price tagged and sold 24/7 without getting in contact with clients.
A legal innovator Lucy Dickens lists 10 reasons for how “packing up” your legal services can increase your profit, free time to work on high valued tasks, and improve clients’ relations.

Professional growth and personal productivity

#5

Self-confidence – a key legal skill.
Lawyers are supposed to be experts in all branches of law as well as different business areas, their mistakes are not tolerated. Working under such pressure just fires up inner criticism and perfectionism, suppresses self-confidence.
The Financial Times asked C-level executives on how to build resilience towards setbacks, how to shut down your ‘lizard brain’ and be more confident in front of colleagues.

#6

In times of crisis collaboration, teamwork and trust among lawyers and, moreover, partners are the number one priority to keep law business going. TGO Consulting advises on how to prevent partners’ from panicking and develop stronger “wartime” leadership skills. For example, opting for taking all necessary measures without first having to go to the partner meeting to reach consensus. Read other TGO’s recommended tactics on how to avoid anxiety and keep the partner group strong, confident and united!

 

On a mission to constantly deliver operational intelligence to our customers, each month we publish a carefully curated list of news we find important.

Focused on legal tech, digital transformation & innovation in law and professional growth, the Digital Lawyer newsletter includes the month’s most notable updates in the market.

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28.04.2020

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