So what role does technology play in all this, and what emphasis do investors put on IT in firms looking to automate processes and gain a competitive advantage? IT will be one of the key facilitators in successfully delivering the business strategy. A 2009 Altman Weil white paper sponsored by BlackBerry focused on how firms have had to “develop new strategies to compete and win in a legal market that contains greater uncertainty than any that has come before it.” The paper identified “outstanding client service” as the main differentiator among law firms and the key to the success of firm stability and growth plans. Embracing technology is more often than not at the heart of delivering that client service experience. The economic crisis has put the power back into the hands of clients in what Eversheds has referred to in its recent report on the Legal Sector in 2010 as “The Client’s Revolution.” In its survey of 130 General Counsel and 80 law firm partners, over 50 percent “had used technology to deliver legal services more efficiently.” Perhaps more importantly, the drive to use technology has come from the clients looking to “standardize processes.” Any initial skepticism “that law firms were not open to the changes that the
Legal Services Act would bring” has been superseded by what clients are looking for and their law firms no longer have a choice providing. Private equity investors see an industry in a significant state of flux, led by inexperienced business people with a client base looking for more cost-effective providers, which is a very inviting opportunity. If Mr. Hand is correct, “The future for good technology people might well be better than it is for some lawyers.” ILTA
Steve Butterworth is President of BigHand, Inc., responsible for its North American operations. Steve, who’s been with the company since 1999 and has over 15 years of global legal technology management and sales experience, was a member of the management buyout team in 2006 that completed the purchase of BigHand Ltd. Since the MBO, BigHand has successfully entered the North American legal digital dictation market and now supports over 117,000 professionals globally, across 1,250 organizations. Steve can be reached at steve.butterworth@bighand.com.
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