Sysero: Legal workflows and digitisation – Paving the way for digital transformation
There’s no question that technology can significantly shift the way that law firms work. In the Nordics, for example, many firms have adopted automated workflows to completely transform key business processes, such as client intake and risk management. In other markets, law firms are still exploring how technology can best be used to drive competitive advantage. However, one thing is clear: to keep pace with the changing market, shifting customer expectations, and increasing security and compliance requirements, today’s law firms need to have a clear understanding of how technology can be used to modernise legal service delivery.
A key part of understanding the benefits of technology is understanding the terminology. Over the past several years, the legal sector has been laser focused on driving digital transformation. However, the concepts of digitisation and digitalisation are crucial elements of a digital transformation strategy. Here, we break down the differences between these terms and highlight what they mean for your firm.
Digitisation, digitalisation and digital transformation
When people start discussing how technology can be used to improve business processes, there are several terms that are widely used: digitisation, digitalisation, and digital transformation. Though the terms are often used interchangeably, they have very specific meanings.
Digitisation: This is the process of converting information into a digital format. For example, many firms have digitised their client intake by converting their paper client intake form into a digital form that can be completed online. This information is then stored in a digital format. Essentially, digitisation is about capturing information in a structured format via digital methods.
Digitalisation: Digitalisation builds upon digitisation by leveraging technology to transform and improve processes. It’s about employing the latest technology to rethink and automate decades-old processes and create a more streamlined, integrated way of working. A great example of this in the legal sector is the recent transition to digital Know-Your-Client solutions. Many firms have reorganised their client intake and acceptance around digital technologies that automatically check new clients and cases for risk, route new matters for approval, and digitally document every step of the process.
Digital transformation: Digital transformation refers to the broader acceptance of modern technologies to rethink, rebuild, and design new business processes and experiences across the entire firm. It goes beyond just implementing new technologies; it requires a shift in culture, a focus on problem solving, and a commitment to transformation.
Why Firms Must Digitise their Processes
While the concept of digital transformation has been a hot topic amongst law firms for years, many are now realising that digitisation is the foundation for a truly digital strategy. Additionally, it’s the only way that law firms can effectively manage risk and compliance in today’s landscape.
With increasingly complex regulations like the GDPR, KYC, and AML, today’s firms face greater accountability in demonstrating security and compliance. Employing the right technology, firms can ensure compliance and data protection through secure digitisation and digitalisation – and pave the way for true digital transformation.
A great example is Wikborg Rein’s digital client intake solution. Developed in partnership with PSA Consulting, the firm’s solution leverages Sysero’s technology to streamline the entire client intake process – from digitising the client intake form to employing workflows to evaluate new business opportunities, create risk profiles and automatically route for further review.
Throughout the entire process, security and compliance features are built in:
- Personal data provided via the client intake form is automatically encrypted to prevent identification of individuals in case of a breach
- Personal data can periodically be pseudonymized from transactional data
- The firm can selectively delete data from records to adhere to data retention policies
- Every step of the process is documented, providing an audit trail
As more firms move towards digital transformation, it’s critical that they build the right foundation. It starts with capturing data in a secure, structured way and continues by designing automated processes to effectively use that data in business transactions.
Ready to Evolve your Firm?
To stay compliant and competitive in today’s market, firms must become digital-ready. At Sysero, our technology and team of experts can help your firm adapt and evolve to take advantage of digital technologies to drive transformation. Get in touch to learn more.
