Tech Series | What are you doing with LawTech?

Tech Series | What are you doing with LawTech?

Every law firm understands that clients are always looking for a better service at a cost-efficient price. One easy solution is to use legal technology (LegalTech) that improves client service and reduces the amount of time spent by lawyers on mundane tasks. 

Progress in LawTech has been rapid over recent years. In 2019, it was estimated that $1 billion was invested globally in LegalTech research and development.  

Why rely on LawTech? 

There are platforms and tools available for every legal process. This can make it daunting when deciding which areas need focus. A cohesive approach is best, finding tools that work well together and which help free up time by minimising human input on repetitive tasks. 

Key areas to consider include: 

Automated drafting and review of legal documents 

Automated drafting and legal document review offer one of the fastest and most valuable returns.  In an industry which relies on the production of accurate, robust contracts and other agreements, an effective tool is a must-have. A comprehensive offering such as  Lexis Create can help write legal documents, check them for inconsistencies, flag areas that need attention and link to other related services.  

Increase productivity – why waste time on repetitive tasks when you can leverage automation? Any legal document drafting tool should mean you never start with a blank screen again - giving you more time to spend on revenue-generating activities 

Ensure accuracy - any legal drafting solution worth its salt should be able to deliver consistently accurate documents far quicker than any human could produce. Lawyers often spend too much time sifting through documents with a fine-tooth comb trying to spot inaccuracies.  These archaic ways need to be left behind.  Technology should do the heavy lifting, leaving people to focus on other areas of complexity. 

Knowledge and research tools 

A good legal library will include not only laws and court forms, but have a well-indexed system of finding cases and up-to-date judgments, commentary and notes. It is vital to be able to easily check the status of legislation and identify changes in law.  

Save time - any good legal research platform should save users considerable amounts of time. Being able to access the latest legislation, case law and commentary is vital for any legal professional. Where possible, using practical guidance tools will help put the law into context and help with its application 

Advise with certainty â€“ there’s nothing worse than realising you’ve referenced outdated legislation once it’s too late. Practice notes and other legal guidance should be created by experts who’ve trodden the path you’re walking. When seeking the latest legislation and legal guidance, ensuring it’s from a reputable source is paramount 

Stay ahead of change â€“ the law is constantly changing, and the onus is on lawyers to stay current and ahead of these changes. When considering legal research tools, ensure you can tailor news alerts to your specific requirements. Lexis PSL’s News alerts, horizon scanners and legislation trackers help users to stay ahead of market developments and mitigate against citing outdated information. 

The benefits of getting LawTech right 

Law firms have not always been at the forefront of adopting the latest tech.  But with clients demanding more for less and  the widespread adoption of hybrid working in 2020, the LawTech revolution is well and truly underway. 

Undoubtedly, some will be left behind. But ambitious, forward-thinking firms have the opportunity to streamline their work and reach new levels of profitability. 

Automating processes frees up lawyers to focus on the more complicated work. This not only offers the client a better value service,  it makes the lawyer’s job more rewarding by removing the repetitive or mundane tasks. 

The array of tools available can be bewildering. As well as looking closely at your firm’s needs and tying in your selection to match that exactly, try to find solutions that integrate with each other. 

For those that implement a comprehensive network of LegalTech tools, the future is bright. Workers both at home and in the office will be able to work together, work better and offer a more efficient service.  

At ÀÏ˾»úÎçÒ¹¸£Àû, our suite of legal solutions will ensure that firms are primed for success. Our drafting, research and guidance tools work together within a single ecosystem, making it seamless to move from one tool to another. Speak to our team of experts to find out how LawTech can benefit you and your firm.  

Try any of our products free with no obligation to commit after: 

LexisLibrary  - Quick and comprehensive access to all the law you need 

LexisPSL - Clear, practical guidance for all legal professionals 

Lexis Create - Increase productivity and accuracy with Lexis Create legal writing software 

 

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About the author:
Ashton Dixon-Pemberton
Ashton leads on the marketing strategy developed to enhance ÀÏ˾»úÎçÒ¹¸£Àû’ relationships with medium and large law firms across the UK. He is a qualified marketer with a demonstrated history of executing Account Based Marketing strategies across financial services and SaaS companies.