For some years now, we have been immersed in an important transformation that affects society as a whole and, of course, companies are not exempt from this. Digital transformation is not only about using social networks or virtual assistants, it is something much deeper, caused by various factors, including both the 2008 crisis and the rethinking of the system that began with it, and the accelerated technological development in which we are still immersed, are the protagonists.
Innovation is, today, a necessity and has to be included in the business roadmap. Although the change has already begun and the will to carry it out is perceived, there is a long way to go for all sectors to complete the digital transformation.
As for the legal sector, its own characteristics, such as its heterogeneity, its traditional logic and its nuclear composition, mean that progress is delayed with respect to other sectors, although professionals are already beginning to be very aware of the maxim: “renew or die”. This is a big problem and that is why we have to start reacting and embracing big technologies that are currently modifying society, and, therefore, the legal world.”
Although law firms hide behind the high cost and the lack of both specialized personnel and priority in the transformation, for the sector it is a challenge and the situation to be resolved becomes an opportunity to implement tools and modernize the firm. Committed to digitalization, but you should know that not everything is technology in this great change.
Why Is Digital Transformation Necessary In Law Firms?
There are 5 factors of change common to all areas:
- The globalization.
- The digital age.
- The profile of the new client, more informed and technological.
- Legislative changes that affect technology.
- The presence of new competitors.
The challenge for law firms is adaptation to the new context that has been created with the digital era. According to this same study, 80% of law firms are aware of the need to innovate, but only 34% have real implementation. They know that they must ride the wave of transformation because it is the only way they can survive in an increasingly demanding and competitive market.
Fundamental Pillars For A Successful Digital Transformation
- Digital transformation is not synonymous with digitalization:It is a change in many more aspects that include certain essential concepts and, of them, the most fundamental is the change in mentality that must begin at the top of the office hierarchy.
- Change of the business model:That involves personalization, concern for always being close to the client and increased collaboration between agents; aspects that new market competitors and younger companies take into account and on which they base their creation and growth. Law firms must go from being firms to being companies with the objective of being efficient and competitive.
- Change in corporate culture: The key to digital transformation is in people and organizational culture. The first process is awareness, because people represent the basis on which the foundations of an organization are based. The digital change does not seek to dehumanize, but rather to enhance human value.
- Process optimization: Communication must become faster, making processes more agile; achieve a collaborative environment and create organizational transparency so that the entire company understands the objectives of the transformation.
- Digitalization:The aim is to develop digital channels to achieve a complete circle of transformation, creating areas of improvement based on technological implementation and centralizing products and services and giving them a global digital identity.
Within digitalization, it is essential to invest in cybersecurity. For law firms it is absolutely necessary to protect them: Cybersecurity for law firms are the seventh most hacked business. Your customer information is very attractive. Some data corroborate this need:
- 80% of offices have been the victim of a cyber-attack.
- 95% of the attacked law firms were not aware of it until 6-9 months later.
- The average cost to remediate an IT security breach is €33,700.
In fact, the fear should not be if the office will be attacked, like any other company, but when it will happen, so the more measures are taken to avoid it, the less costly business continuity will be in the event of an attack.