Client Demand is the Mother of All Innovationaderantuser
If the past few election cycles have taught us anything, it’s that real-time research and poll results cannot be taken literally. In order to get the real picture, we should look at all of them, over time, in order to get a better sense of the actual trend. We’re following our own advice as we look at the results of the 2019 Business of Law and Legal Technology Survey.
The survey was born in 2017, so instead of looking at the most recent results, we can culminate the trends over the last three years. For example, each year we’ve asked: Which technology tools have the highest impact on efficiency at your firm? One might think the “shiny new tech” like AI and Blockchain would dominate the results, but you’d be wrong.
When it comes to efficiency within a law firm, year after year, these six items have had the highest number of responses of “high-” or “moderate impact”:
Hmm. If you were to click on the Solutions tab at the top of this page, in the drop down, you’d see each of these top responses addressed. So at least we know we’re in the right business. But remember, we’re talking about trends here.
Another big trend over the past three years is the expectations being placed on you by your clients. From transparency into budget, to compliance with billing guidelines, to better communication, clients are demanding more from their law firms. The pessimist would say corporate clients are just being stingy and forcing firms to do more with less. The optimist would say corporate clients are reaching out and giving firms an opportunity to strengthen the trust in this relationship.
Imagine being able to leverage your existing technology to deliver better collaboration and transparency to every client. We’re talking about data-rich collaboration sites that would allow you and your clients to share data and information, documents and files, in a secure, real-time environment. Think about the competitive advantage you would have in expanding existing business, as well as attracting new business. Sound like an impractical whim? Think again.
Previously, these types of portals were cumbersome to deploy, difficult to scale, too disparate for the IT department to keep track of, and of course, too expensive. Not anymore. If necessity is the mother of all invention, in the business of law, client demand is the mother of all innovation.
We don’t typically talk about our products on the Think Tank, but we hope you’ll excuse us just this once. We’re both proud and excited to bring you Aderant Drive.