There are many reasons why law firms today are looking out to the marketplace for new management software. The competition is on the increase and there is a rising need for better management of case loads, financing and client relationships. Your firm cannot perform better when it is still entering data manually, enduring inefficient interdepartmental workflows, reporting inadequately and retrieving data that is saved in disparate software application. It’s high time you started reviewing your firm’s software situation. You can increase your profitability as a firm or a solo practitioner by choosing a high quality and fully-integrated legal practice management system that can streamline all the major processes. Start a new venture or outgrow your existing system by obeying the following commandments which are advised by professionals specialized in M&A advisory for legal technology like Arbor Ridge Partners M&A firm.
#1: Thou shalt uphold thy firm’s major objectives
What’s the use of legal management software if it weakens the key objectives of the firm you are working for? Consider the growth goals, efficiency goals, compliance goals and marketing goals of your firm. The software you chose must be able to double your firm’s profitability and productivity and must better satisfy clients. Your firm must be able to able to win new business levels with the use of the software system.
#2: Thou shalt not overlook the details
Every legal practice consists of processes that jointly work to meet the business goals. The software must appoint system champions from all departments of the firm. So ensure you review all activities, including automated ones and those relying on whiteboards and spreadsheets. This exercise will help break down your business objectives since you measure your performance and ‘return on investment’ (ROI) in terms of outcomes.
#3: Thou shalt critically analyze the sales process
Before purchasing legal software, it is always good to have a proposal that contains information about workflows, specific functions and expected features. Salespeople should be kept on track with the business and operational system needs of your firm. This will enable them to implement, support and customize the system for both your short-term and long-term goals.
#4: Thou shalt ask key security questions
One of the major problems facing software development is “Cybercrime” Many NHS computer systems are being disrupted recently by attacks from so-called “hacktivists” So to ensure you don’t fall victim to this, your software supplier must be able to provide evidence of their robust cybersecurity credentials. They must be ISO 27001 certified at a company level and they must operate their SaaS solution within an ISO 27001 certified data centre.
The above commandments can help you make the shift to innovative and efficient computer system or software use, allowing your law firm to perform better.