Peer to Peer Magazine

P E E R T O P E E R : I L T A ' S Q U A R T E R L Y M A G A Z I N E | F A L L 2 0 1 8 15 analyze data about both former and current clients to identify common traits that could suggest behavior patterns or perhaps new tools to improve the efficiency and even the quality of service delivery. Whether new initiatives leverage artificial intelligence, automation or any other technolo, they should work toward an intentional purpose. An innovation strate should also include a plan to take new ideas from their initial stages through completion. This requires attention to detail, along with an understanding of process mapping and the inner workings of the firm and its various practice areas. Outlining a standard process to follow for every project not only helps firms to formalize their innovation programs, but also offers a road map to keep projects on track. When following a formal, documented process, there is less opportunity for things to fall through the cracks. In addition, project managers will find expectations are better managed from idea conception through development through implementation when a standard process is in place and consistently followed. An important step in that process is the capturing of business requirements associated with the development of new solutions, which should be thorough and completed at the start of the initiative. Firms often enlist the help of external consultants to guide them through this important part of the process. Only once the scope of the need being addressed is detailed can the remainder of the process be applied to the project. reluctant to change. However, questions remain about the process for following through on those ideas, leading projects and shouldering their financial burden. To address these and other questions in a methodical, fair and consistent manner, more firms are choosing to focus their innovation efforts. Some firms are launching innovation units, supported by leadership to direct the units' priorities and investments. More are appointing existing or hiring new executives dedicated to leading innovation initiatives firmwide. The role of chief innovation officer is becoming more common in large law firms and often filled by forward-thinking partners or veteran technolo leaders. In other firms, cross-functional teams are trying to fulfill that leadership role. But in all instances, gaps frequently remain between those leading innovation efforts and their counterparts leading practice groups – gaps that prevent the firm from developing and implementing new solutions. While they may be identifying opportunities for improvement and trying to capture business requirements, without defined budgets and defined structures in place to move projects forward there is often little accountability. Regardless of a firm's approach, any initiatives around innovation require leadership and planning. Strong leaders, either at the C-suite level or within practice areas, will help navigate the uncertainty of where to begin and how to develop a successful strate. Have a plan A qualified leader can work to develop a firmwide strate that promotes a holistic approach to innovation so that new solutions are successfully created and integrated into workflow. It is not enough to generate ideas or even develop new tools or processes, because until those solutions are fully implemented and functioning, the firm will not realize any meaningful ROI. Firms can establish a strate around innovation by revisiting their core goals and objectives. These may be related to growth, enhanced client service or improved business operations, among other motivators. Developing a strate requires a clear understanding of the big picture to ensure the time, effort and resources allocated to any initiative support firm goals. For example, a firm experiencing some client attrition might prioritize new ways to improve client satisfaction. This could include an effort to collect and It is not enough to generate ideas or even develop new tools or processes, because until those solutions are fully implemented and functioning, the firm will not realize any meaningful ROI. I N N O V AT I O N S E S S I O N R E C O R D I N G S Looking for more innovative and applicable ILTA content? Download materials and listen to session recodings from ILTACON 2018! Search "innovation" on ILTA's website, and filter your results by checking the ILTACON 2018 formal tag. https://bit.ly/2QYoQPN

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