Over the years, law firms have developed a reputation for eschewing technology in favor of more traditional methods. Though not every lawyer is a Luddite, many seem to prefer the tried and true way of doing things.
The times they are a changin’. A new survey, “BTI Brand Elite 2015: Client Perceptions of the Best-Branded Law Firms,” of 700 Fortune 1000 corporate counsel reveals that more law firms are turning to technology “as a source of innovation” to improve their brands and also to offer more value add services and expertise that help corporate clients save time, simplify their lives or offers new insights to better evaluate their options and decisions.
As law firms seek to differentiate themselves from the competition and provide more value to their clients, and as corporate counsel look for ways to maximize law firm value, the demand for technological proficiency is likely to be near the top of the list.
One area in particular is the rapid adoption by law firms of advanced analytical tools to facilitate “sweet spot,” higher value document review in e-discovery. Applying analytics to review projects can enable law firms to move away from first-pass and linear review, which is arguably more time-consuming and expensive for the client, and allow law firm attorneys to hone in more quickly on the relevant data.
Services providers are in a unique position to help law firms realize the full benefits of analytical tools, hence allowing them to better market themselves as technology-savvy to their corporate clients. Service providers not only can provide the technology platform and suite of analytical tools and capabilities, but also—importantly—they offer the strategic and tactical guidance that many law firms need to develop the most efficient and cost-effective workflows for their clients.
One example is technology-assisted review (TAR). By working behind the scenes to provide expert guidance on when and how to apply TAR, service providers can serve as a key extension of the law firm’s litigation support staff, consulting with counsel on key elements of the process, including the use sampling, measurement and QC. This consultative approach can; optimize law firm “sweet spot” review, allow firms to be more competitive to their clients by providing a significantly reduced, and richer, data set for review and ensure defensibility.
If you are seeking new business or want to elevate your firm’s branding through differentiation, technology know-how just very well may be the way to go.
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