Extract from Rachel Bailey’s article “Lawyer leverage: Mistakes to avoid with legal tech”
Law firms that plan to increase litigation lawyer leverage in the next year, should invest in the right legal tech now. According to the Citi Law Firm Leaders Survey, around 62 percent of large law firms plan to increase their lawyer leverage by 2025. However, only one-third of firms plan to spend more on litigation support technology, according to a survey by U.S. Legal Support – making it unclear how they hope to accomplish their lawyer leverage goals.
Despite the ongoing hype about technology eventually replacing lawyers, it seems that law firms should be more focused on finding legal tech that solves everyday problems. When applied correctly, legal tech can increase lawyer leverage in ways that ultimately improve a firm’s bottom line.
But litigation firms looking to use legal technology to increase leverage should remember that simply investing in tech isn’t a magic solution. Without careful implementation and enablement, firms may face consequences ranging from lost ROI on tech spend to serious mistakes on client matters. Law firms that understand what tech can and can’t do and carefully measure efficiency and effectiveness will have more success than others.
