P2P

60 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 | S P R I N G 2 0 2 0 prioritized improving minute book management. Law firms that have already performed internal strategic analysis will have a simpler (and less costly) buying process; they are empowered to find the products with the best overall fit and more readily adapt it to their workflows. Streamlined Processes for Implementing New Technolo While each new technolo can bring new challenges to an IT team, what's not new is the fact that such technolo is a part of the strate of law firms. We believe that the firms that can quickly test new technolo and make it available to users will have a competitive advantage. The ability to do so lies in having streamlined processes. Implementing a new tool requires cooperation from the firm's IT personnel, its Innovation team, and the end users at the firm. The most effective firms have alignment across these different stakeholders. Clear and consistent communication enables each person to handle their part of the job independently. In an ideal world, the appropriate individuals in both the law firm and the vendor would be in constant communication and feedback on everything from a solution's efficacy, ease-of-use and overall value- add. Conversely, traditional firms may have a less formal technolo implementation process, which can lead to bottlenecks or implementation purgatory as other more pressing matters take precedence. At MinuteBox, our seamless implementation process is as important as our solution and we will do whatever it takes to determine if our solution is the right fit for your firm. But at the end of the day, this process is made infinitely easier if a firm has outlined a process where the steps, roles and duties of all those involved are clearly outlined. Dedicated Innovation Resources It's not uncommon to hear some variant of "this solution looks great, but we just don't have the budget right now." NOs are fine. They are part of an entrepreneur's life. More interesting is the varying definition of "budget": it can mean everything from an ambiguous term with no set amount, to a defined sum of money set aside specifically to implement new solutions and innovations. Having a dedicated budget for innovation can send powerful messages. First, when partners see that a portion of the firm's profits are going toward "innovation," it signifies that senior leadership believes change can have positive benefits for F E A T U R E S the firm. Second, setting aside a budget generally correlates to hiring staff dedicated to working on these projects. Smaller firms that do not have the size to hire dedicated people usually designate someone internally to future-proof the firm. Either way, designated roles further signal that a firm not only values innovation in concept, but is actively pushing forward an innovation agenda. Change (and by extension innovation) is hard. It requires research, internal analysis and the right team to actually implement a solution once decided. But having dedicated and motivated staff, supported with some internal financial backing, is a great indication that a firm is serious about change. Strong leadership support Arguably the most important factor is strong leadership. It is difficult for lawyers and staff to feel comfortable about trying something new without senior leadership recognizing the value of their efforts. Effective leaders create a sense of urgency and communicate a clear vision of what change will look like across the entire firm – legal and "non- legal" alike. Although I rarely have a complete picture of the internal workings of the different law firms I encounter, it is obvious when senior leadership prioritizes innovation. It can be as simple as allowing junior lawyers to sit on innovation committees. Proactively developing leadership skills can improve every aspect of a firm. As Blane Prescott notes, "the single most common success factor for law firms today is great leadership." "I'm not sure if a firm's risk tolerance is a reliable indicator for finding correct solutions."

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