Peer to Peer: ILTA's Quarterly Magazine
Issue link: https://epubs.iltanet.org/i/1356436
83 I L T A N E T . O R G documented needs analysis when a piece of technology is requested is a best practice. Technology is Transforming the Business of Legal • As technologies help solve business problems, then the tech becomes more integral to the business and hopefully soon is so engrained in the solution that it isn't even seen as a separate "thing". • Technology advances are making the productization of legal services more prevalent. • Pressures on law firms to increase efficiencies is feeding the advancements in automation. • Blockchain-powered software is slowly making inroads in legal. • Data analytics, data science and metrics are quickly taking over old school reporting in law firms, allowing them to make better decisions and achieve bigger success. When do law firms buy technology? • As infrequently as possible! A clear business need has to be shown. • Client demand drives many technology purchase decisions. • Competitor pressure, when the question is asked, "What are other law firms doing about this?" • When increased efficiency can be shown to be a result of the software purchase. • Security concerns often drive technology purchases. • Regulatory requirements and particularly new regulations or laws force some technology decisions. Technology Skills Needed Tomorrow Advances in technologies used by law firms means demand for new skills in law firms. Here are a few specific areas where you might consider skilling up: • Data Analytics • Supporting hosted (cloud) applications • Software Development – Apps • Automation and artificial intelligence Sooooooo, law firms are businesses that rely on technologies to support that business and to be successful. You as a technology professional can ask questions to learn as much as you can about the intricacies of the business of your firm. You can use your technology skills and add to your skillset to help solve business problems and be a part of the transformation. Next quarter we'll talk about how you can ask the right questions to help build bridges between IT and the business. ILTA