2020 was full of unexpected challenges. We redefined where and how we worked, with many lawyers transitioning to remote work. Whatever new challenges await in 2021, we can be sure that the legal industry has been changed forever.
To help your firm hit the ground running in the new year, we’ve compiled a list of the best legal trends of 2020 - as well as tips for how to incorporate these developments into your own practice. Read on to get ready for your best year yet!
Remote work
It’s no surprise that the rise of remote legal work would appear first on our list. The COVID-19 pandemic forced businesses across the globe to adopt a remote work policy, and while some industries had work-from-anywhere policies in place prior to the pandemic, remote work was new to most law firms. The legal field is notorious for in-person meetings and stacks of paper files, but rose to the challenge of changing circumstances.
To succeed in 2021
Transparency and communication are key to successful remote work environments. Make sure that your team has a plan to keep each other informed by investing in practice management software that allows all members of your law firm to see the latest developments in a matter in real time, as well as automatic time tracking that allows you to see how much time your team is spending on specific tasks and matters.
Automatic time tracking
Gone are the days of constantly setting timers and filling out timesheets. Automatic time tracking software, like Smokeball’s AutoTime, takes the stress out of calculating billable hours by tracking the time users spend on different matters and tasks throughout the day. Firm owners have complete transparency into how their team members are spending their workdays (no matter where they’re located), and employees can be confident that they’re getting accurate credit – without ever setting a manual timer.
To succeed in 2021
Simplify your life by investing in legal software that tracks your billable hours for you. Automatic legal time tracking has obvious advantages for those who bill hourly, by ensuring that no time goes unaccounted for – but it’s crucial for fixed fee billing, as well. Having a clear picture of how much time you spend on different types of matters and tasks means you can set your fees fairly and manage your workload in a way that guarantees profitability.
Importance of data
It is more important than ever that law firms make decisions based on data rather than gut feeling. Knowing how much time you can expect to spend on a matter – and how to balance your workload to ensure a positive outcome, both professionally and financially is vital whether you’re billing hourly or fixed fee.
Understanding your law firm’s key performance indicators (commonly referred to as KPIs) and where you are spending your time will ensure that no matter what surprises next year brings, your business will be able to thrive.
To succeed in 2021
Define your firm’s KPIs and how these numbers can help you to measure and drive success. If you’re not sure where to start, Smokeball’s Firm Insights feature offers reports where you can review data on your firm’s business trends, profitability, and more based on automatic time tracking and real-time data.
Clients expect transparency
High speed internet and smartphones have trained us all to expect access to information and connection at the click of a button. Clients involved in a heated personal injury law or family law matter demand timely updates on their matters, and those clients working with a property lawyer or conveyancer are eager to get their sale or purchase finalised quickly. 2021’s most successful firms will be those who are able to deliver the prompt and personalised service their clients expect.
To succeed in 2021
Keep your clients up to date with a lawyer app like Smokeball’s Communicate, which gives you the convenience of text messaging with with high levels of security. Share large files, send automated updates as matters progress, and even track the billable hours you spend communicating with your clients.
Rise of legal tech
All of the previously mentioned topics point to one thing – the increasing importance of legal tech.
Law firms across Australia successfully pivoted to remote work with the help of legal software, while maintaining productivity. Practice management software enables firms to track and understand the data they need to be more successful businesses, while delivering the flawless client service necessary to set themselves apart.
Our biggest tip for success in 2021? Schedule a personalised online software demonstration, and see how your firm can bill more in 2021 while increasing your productivity and profitability.
