Practice Management: Slashing expenses with legal practice management software

By Carl Mazzanti

Artificial Intelligence (AI) is driving change across many industries, perhaps most significantly in the legal vertical. As this new stage evolves, a combination of competitive challenges and changes in technology mean that law practices need to stay flexible.

We have found that legal practice management (LPM) software eases the transition to AI. LPM software enables firms to practice law more efficiently, effectively, and securely.

A one-stop solution

Firms report that “all-in-one” legal practice management software can streamline their internal and client operations. These tools assist with tasks like client intake, case management, and timekeeping.

This is in contrast to firms that take a traditional approach, using a variety of systems. They must open each application, switching between software packages each time they engage in a new task. This tends to lead to less overall efficiency, not more.

An experienced managed services provider can help you choose LPM software that fits your firm’s needs and will handle many tasks. An LPM package will typically be capable of managing through a cloud-based platform such responsibilities as clients and staff, office accounting and reporting, and document assembly and storage. It will remind lawyers of filing, hearing and meeting dates. AI-supported legal practice management software can also boost efficiency in several areas, including document management, time tracking, billing, and client management. LPM software also improves workflow.

Further, customized LPM software can lead to fewer errors compared to manual data entry and provide better reports that improve business decisions.

Perceived drawbacks

While such legal software offers obvious advantages, some law firms are hesitant to adopt them for various reasons.

First, there is often a fear of change. Replacing legacy software requires some staff training and adaptation. Some firms are not comfortable with upsetting the status quo. Second, existing software often meets some specific needs of a firm, and partners may believe that switching to a new system will be difficult. Finally, some firms focus on short-term goals but overlook the long-term benefits of upgrading legal software.

Longer-range benefits

A practical look at the downsides to maintaining the status quo, however, can often help make the case for change to new LPM software. That begins with the fact that for many firms, the old technology will simply cost more in the long run.

• Running outdated tech. Trying to maintain old technology can lead to frustrated employees and higher turnover.
• Ongoing maintenance costs. Outdated tech means more downtime and reduced productivity.
• Integration struggles. Old software often requires costly custom development to cope with legacy data formats and translation issues.
• Scalability issues. Firms struggle to scale legacy software, particularly if it is not cloud-based.
• Competitive advantages. Your firm can cut costs and find new ways to boost revenue with AI-powered legal practice management software that simplifies operations and helps you stay compliant with automatic updates.
• Efficiency of use. Advanced AI legal software automates your firm’s operations. With it, you can quickly find and review important details in your cases.

Best practices call for using cloud-based software and secure cloud data hosting. Getting rid of on-premises servers and replacing them with cloud-based legal software saves you money and makes it simple to access firm data. Your lawyers can work from anywhere and at any time while keeping your firm’s and clients’ private legal data safe.

Choosing the right LPM provider

To maximize productivity and safety, choose a legal practice management software provider with SOC 2 certifications, which are considered to be the “gold standard” for security compliance. The SOC 2 criteria was developed by the American Institute of Certified Public Accountants to guide the storage, protection, and confidential use of sensitive data.

Earning this certification demonstrates that an auditor has carefully checked a provider’s security controls and that their operations meet industry standards. This attests to a  commitment to holding the highest standards for security and confidentiality in safeguarding users’ data.

The legal landscape is more competitive than ever, and firms are facing more pressure to cut costs and improve results. Working with an experienced managed solutions provider (MSP) can help you to navigate this new environment. Your MSP can assist you in implementing cloud-based legal software solutions, which is a key strategy for a successful practice.

 

 

Carl Mazzanti is president of eMazzanti Technologies in Hoboken, N.J., providing IT consulting services for businesses ranging from home offices to multinational corporations. The company can be contacted at: 866-362-9926.