Posted 22 February 2023
In today’s digital era, many law firms are unlocking the power of automation to transform once-manual processes into streamlined digital workflows. The corporate sector has long employed digital workflows to manage cost-efficiency, improve delivery times, and enhance customer service. So, it’s no surprise that modern law firms and legal departments are tapping into automation to uncover new and improved ways of working.
In fact, according to a recent survey, more than half of UK law firms are prioritising investment in process automation technologies in hopes that it will help its lawyers and staff manage ever-increasing workloads. When it comes to digital workflows, there are endless possibilities in leveraging automation to drive improvements and optimisations for your firm.
Why digitise and automate your workflows?
Processes are what drive the day-to-day operations of a law firm - from onboarding new clients to delivering services and ensuring compliance. However, manual processes can be time-intensive, prone to human error, and difficult to scale. On the other hand, digital workflows can help simplify and streamline complex processes, maintain consistency, and ensure compliance.
By automating key processes, legal professionals and firms can optimise workflows, improve efficiencies, and maximise growth opportunities. Take for example, how nearly 60% of legal professionals report that inefficiency in the contract process slows revenue recognition, and in some cases results in loss of business.
While digital workflows can provide an array of benefits, it’s important to consider whether they are the right choice for your firm. The following signs will help you determine if it’s time for your firm to make the transition to digital workflows.
Lawyers are bogged down with busywork
While processes are crucial for law firms, they can often require a lot of administrative work for lawyers. In today’s competitive climate, clients want on-demand advice and value-driven services, and the more time lawyers spend bogged down by administrative tasks, the less time they have to spend on value-added services.
By automating administrative tasks associated with client intake, document generation, and service delivery, firms can shift lawyers' focus from repetitive tasks to relationship-building and revenue-generating activities.
With the introduction of low-code and no-code solutions, firms can even put the power of automation into the hands of their staff and lawyers. Take for example, how Wedlake Bell created a no-code workflow solution to help their lawyers streamline the process of conducting supply chain checks. With the new solution, the firm’s lawyers can easily manage multiple supply chain audits simultaneously and automate the creation of supply chain inspection reports.
Client satisfaction is dwindling
In today’s competitive legal landscape, retaining clients is crucial to survival. Today’s clients are accustomed to on-demand service and to stay competitive, firms must be able to deliver an efficient, quality client experience.
Workflow automation can be used to build digital workflows for key business processes like contract negotiations and Know-Your-Client checks, so you can get to work quicker for clients. Digital client onboarding workflows can also help facilitate information-sharing with clients via online forms and automate key compliance checks, providing a streamlined, and more accurate way of gathering information from clients.
Top-tier rated international law firm Wikborg Rein launched a digital client intake solution that provides users with an intuitive web interface where they can quickly register new clients and cases, ensure the required information is captured, and verify client data in accordance with current regulations. By using digital workflows to manage the intake process, the firm not only drives efficiencies in the process, but also demonstrates to its clients the firm’s dedication to digital transformation.
Internal processes aren’t documented or compliant
Compliance is a key concern for law firms, and the lack of standardised and documented processes can easily lead to potentially devastating oversights. Digital workflows can be used to embed compliance best practices into every day processes and ensure that lawyers and staff are always obtaining, managing, and storing client data in accordance with data protection and retention policies, like UK GDPR.
By using a best-in-class workflow automation tool like Sysero to digitise workflows, firms can also create a clear audit trail throughout the matter creation process to ensure full accountability.
Profitability is decreasing
Decreasing demand and surging expenses are seeing the profitability of global law firms decline. As firms face rising costs, finding more efficient and cost-effective ways of delivering high-quality services is more important than ever.
By embracing digital workflows, firms can reduce business costs, whilst elevating quality. A Deloitte study even estimates that workflow automation can reduce general business costs by 30 percent, which takes into account staff and time savings, as well as accuracy improvements.
Is it time for your firm to embrace digital workflows?
If your firm is experiencing any of the challenges above, it’s time to consider adopting digital workflows. At Sysero, we’ve worked with law firms and legal departments around the globe to help them drive more efficient and effective processes through workflow automation. Get in touch with our team to discuss how we can help you.