Why IT will save law firms (as long as they're willing to change)

 

The legal profession is at a very transitional point today - even the basic nomenclature is coming under scrutiny. Over the past year I’ve noticed a signifcant change in terminology; to many, we now work in the “legal industry”, where clients are “customers”, apparently engaged in a more directly commercial relationship with the services they use. This has happened in other sectors too, like banking. Banking, for me, has many parallels with legal. Ten years ago many a banker would have considered themselves to be working within the “banking profession”, as with lawyers working within the legal profession. Those words are long departed:    

By very definition we are moving away from ‘a body of people engaged in a particular profession’ to ‘a particular form or branch of economic or commercial activity’. This is due in part to some signifcant legislative changes (some on the horizon and some     already underway) to the ways services can be procured, and who is permitted to deliver them.The law frms of the future (or at least those which exist today and want to remain in the future), must become truly commercial and operate as businesses. For many,this is a diffcult change to comprehend and will be equally challenging to achieve...

'The law firms of the future must become truly commercial and operate as businesses'... 

To read the full whitepaper from Databarracks please download attached pdf. 

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