Law firms and in-house legal departments
Law firms across the world are now continuously being forced to consider ways of reducing their costs while creating new methods that are different from the competition is a further challenge. The introduction of legal tech solutions is one such way that a firm can save time and streamline work processes. In doing so, a law firm can improve the working environment for its employees, who in turn will be able to become more efficient and deliver a better service to the client. A client-first culture is now an imperative for global law firms, with technology an essential element to ensure success.In-house legal departments are also developing a focus on their long-term innovation strategy. Often, the general counsel or chief legal officer within a firm may be sidetracked into completing more administrative work, the type of activity that could be automated through the aid of technology. In-house legal departments typically use legal tech tools for activities such as contract management, legal research, and records management. The adoption of technology within the legal services industry has been heavily influenced and, on occasion, accelerated by major global events including the 2008 monetary crisis and the coronavirus pandemic.
