At the risk of over-disclosure, over the past 6 weeks, I have lost quite a lot of weight. There is a work related aspect to this post - I'll get to it!
Despite being fairly active last year, I couldn’t shift the additional weight I’d picked up. No matter how much I ran, I couldn’t lose the weight.
Towards the end of last year, I bought a new suit in a larger size because my old suit no longer fit me and I couldn't see a way back to it. I just assumed that my metabolism had slowed down, and this was the new reality.
However, over Christmas, our son told us how he had slimmed down while building his strength using the MyFitnessPal app. Tell me more I said…
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Topics:
Document Automation,
Legal Technology,
In-House Legal,
Law Firm Management,
Legal Automation,
Matter Management,
Legal Operations,
Law Firm Strategy,
Law Firm Profitability
If you are an ActionStep customer or are considering ActionStep as an option to replace your legacy practice management system, you will likely be very interested in a number of new options that are available for ActionStep customers to create the type of complex legal documents that law firms are going to need to be able to create in an era when anyone will be able to access some form of AI to create documents. Differentiation in this area will be increasingly valuable.
The ability to create more complex legal documents has been a key gap in most practice management systems we have looked at. While most practice management system providers market their solutions as having document automation, it falls far short of what we know is possible with specialist tools. Being able to merge names, addresses, and dates is not advanced document automation!
We can see that ActionStep now has at least three good new options, which should be a strong differentiating factor for firms considering a switch. Even if you’ve looked at ActionStep before and it wasn’t the right fit at that time, it may be time for a fresh look.
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Topics:
Document Automation,
Legal Technology,
Document Assembly,
Law Firm Management,
HotDocs Advance,
Legal Automation,
Matter Management,
Law Firm Strategy,
Law Firm Profitability,
HotDocs,
NetDocuments,
ActionStep,
PatternBuilder
The best conversations I have with law firms tend to have little to do with technology, as there are more fundamental things that need discussion first.
Technology can be a great enabler, but only if it aligns with the law firm's business model, and how the firm creates and captures value.
That’s why I'm always keen to understand what a firm does and how it charges for its services. If they are still charging by the hour, it will make little sense for them to invest in the type of solutions we specialise in delivering, which aim to remove as many hours of time from the job as possible.
If the firm's costs (mainly premises and staff) are largely fixed and they don't have a marketing strategy to get more clients for their distinctive solutions, there's a high chance with an hourly rate billing model that they could end up doing the same amount of work, for the same clients, faster and for less money! Why would the firm want or pay for automation?
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Topics:
Practise of Law,
Future of Law,
Legal Technology,
Law Firm Management,
Legal Automation,
Legal Operations,
Law Firm Marketing,
Law Firm Strategy,
Law Firm Profitability,
Law Firm Pricing
In my last post, I discussed the importance of value pricing in a firm's decision to use legal technology and reap its benefits.
However, how does a firm move quickly from time billing to value pricing while avoiding the pitfalls and mistakes others have already made and which are easily avoidable?
Don't just make it up through trial and error – get external help from experts.
Resources that can help firms move to value pricing
There are a lot of pricing consultants in the market, and I've also noticed that many are also starting to position themselves as value pricing experts despite largely having built their reputations on helping firms refine hourly billing models.
If you're interested in these ideas, I recommend looking first at people who have been living and breathing value pricing since well before it was cool. Some particular people that I recommend are:
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Topics:
Practise of Law,
Future of Law,
Legal Technology,
Law Firm Management,
Value Pricing,
Law Firm Strategy,
Law Firm Profitability,
Law Firm Pricing
Estate planning, particularly the creation of wills and enduring powers of attorney (EPAs), is an underappreciated field requiring a lot of expertise.
Lawyers and legal executives often invest extensive hours researching, verifying, and customising clauses for wills, all while managing the heavy administrative load of gathering and inputting data into multiple documents for various individuals.
It doesn't have to be this hard, though.
Embracing technological advancements has transformed the process of will and EPA creation for modern firms wanting to adopt the most efficient processes and provide the best outcomes for their clients.
In this post, we delve into why leading industry players are now turning to software solutions for the streamlined creation of even the most intricate documents, specifically focusing on wills and EPA documents.
This article focuses on specific document automation software, not the basic functionality you get in practice management systems, which is often marketed as if it has the same capabilities.
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Topics:
Future of Law,
Document Automation,
Legal Technology,
Wills,
Estates,
Law Firm Management,
Legal Automation,
Law Firm Marketing,
Law Firm Strategy,
Law Firm Profitability,
Law Firm Pricing
It's not uncommon for someone to show some initial interest in a legal automation project, get excited seeing how it could make a real difference in their work and that of their team, and then be told that it is not possible.
What can you do in that situation?
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Topics:
Legal Technology,
In-House Legal,
Document Assembly,
Law Firm Management,
Compliance,
Legal Automation,
Matter Management,
Legal Operations,
Contract Management,
Law Firm Profitability
A common concern we hear when talking to prospective clients about legal automation is that they haven't got a budget, and they don't think they can get one.
Often, however, this is before we have discussed the size and cost of the problem or the opportunity to be addressed and the expected benefits, and therefore, it needs more context before a price can be agreed and a budget could be obtained.
What should you do before worrying about price and budget for an automation project?
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Topics:
Legal Technology,
In-House Legal,
Document Assembly,
Law Firm Management,
Compliance,
Legal Automation,
Matter Management,
Legal Operations,
Contract Management,
Law Firm Profitability
Introduction:
As legal automation experts, we understand the immense potential of improving and automating common legal processes to save time and streamline operations. We have a great track record of delivering successful automation projects for in-house legal teams with very strong returns on investment.
However, law firms have been different.
We have realised that merely automating tasks may not always yield the expected benefits for law firms. The true value – and requirement - lies in a holistic transformation, where automation plays a crucial role but is just one piece of the puzzle.
In this blog, we delve into the importance of a comprehensive transformation strategy and how collaboration with experts is necessary to propel law firms towards success.
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Topics:
Law Firm Management,
Law Firm Marketing,
Law Firm Strategy,
Law Firm Profitability,
Law Firm Pricing
021 339 527
lawhawk@lawhawk.nz
