The legal industry hasn’t always been a huge adopter of innovation, but with law firms accelerating their digital transformation plans and the rise of various Legal Tech solutions, it’s clear that driving innovation through the application of Intelligent Automation is on the rise and here to stay.
NexBotix has identified a variety of back and front-end office processes that could benefit hugely from the use of Intelligent Automation. Whether you’ve implemented automation before or you are starting to explore the impact such solutions can have on your business, we’ve summarised some of the biggest challenges legal firms currently face within contract and customer management, case management, client risk and legal regulatory compliance.
1. Case Management
Law firms need to have a holistic view of their varying client cases, deadlines and priorities whilst also delivering a personalised experience to every client. This requirement is made even more challenging when business processes are outdated and highly manual. The demand on legal professionals to monitor, control and manage risks or delays on a variety of cases and projects is profound; this is increasingly difficult when technology is not embraced as an opportunity to drive efficiencies and improved employee and customer experience. For example, if key information isn’t followed through, lost or cannot be actioned this has huge negative implications for both the client and the businesses. It probably comes as no surprise that human error has a significant role to play – naturally, the tedious nature of these repetitive (and often dull) administrative / coordination tasks can result in neglect, error and ultimately negative results for the firm.
Intelligent automation technology can draw on the capabilities of machine learning and OCR, combined with Robotic Process Automation (RPA), and recognise the varying case management patterns. Intelligent Automation solutions are capable of recognising specific case management workflows so that a case-type, project and/or practice area can be entirely customisable; this will not only remove the mundane tasks but it will optimise automated processes with business logic. This will enable lawyers to prioritise tasks and will provide a complete view of key customer and case information up to 5 times faster so that critical client-facing activities performed by legal professionals are more efficient. Projects can be actioned within key dates, goals are met and reported on and costs incurred from inefficient processes removed, therefore demonstrating a true Return on Investment (ROI).
2. Customer service and management
Law firms are a premium service, customers tend to shop around to find the best lawyer suited to their needs and are willing to stay with that law firm for the long term. Customer service is extremely important when it comes to winning and retaining customers for the long term. If this experience isn’t smooth sailing it can have huge implications for firms and businesses.
Intelligent Process Automation helps enforce high standards of client care and customer service, automating the varying processes surrounding project management, CRM updating and reporting, data capture and document management. Projects can be followed through end-to-end and customers can have a 360° view of their key dates, milestones and goals that will be met. Lawyers and clients can have access to data in real-time and any changes can be noted immediately and followed through.
3. Legal Compliance
Law firms must adhere to strict regulatory compliance standards, surrounding their use of data such as GDPR, varying privacy policies and intellectual property restrictions. Currently, these standards are being regulated via manual effort and with the regulatory compliance landscape constantly shifting it’s becoming extremely difficult for law firms to keep up with these changes. Due to the higher pressures and scrutiny, it’s clear that compliance has moved up in the corporate boardroom agenda.
Intelligent Automation solutions can help meet these demands at scale, automating the key regulatory compliance processes. By implementing RPA, the software can store the varying information and data securely, staff can be notified in real-time of any changes to compliance laws and actions can be followed through immediately. Law firms can focus on delivering exceptional service whilst the mundane and easily automated processes are taken care of eliminating the huge risk of error.
4. Administrative Tasks
Currently, law firms are facing high admin demands with the majority of administrative processes being carried out manually. Not only is this having a negative impact on employee morale but the repetitiveness of these tasks leads to an increased volume of mistakes and inconsistencies across important data sets. Some theses processes include updating records, creating legal documents, preparing court forms, data analysis and scheduling meetings.
Automation can aid in identifying and streamlining these key processes whilst meeting the administration demands with ease. Intelligent Automation technology works to automate the back-end office processes whilst driving efficiency and productivity for your business.
5. Invoicing and billing
Law firms need to manage cash flows, accounts, payroll and billing. These processes are fundamental in the success of a business and mustn’t be overlooked. Currently, there’re huge errors associated with carrying out these processes manually and law firms are struggling to meet demands.
Intelligent Automation eliminates the pain and error simply managing and recording these key processes. Accounts can easily be identified, cash flow is managed, and invoices are automatically sent directly to customers.
“Artificial intelligence and the legal technology market was valued at $3.2 billion in 2018 and the expected CAGR between 2019 and 2026 is nearly 26%’ according to Bigle Legal. It’s clear that Intelligent Automation helps law firms focus on making tasks and processes faster and more efficient, demand for this technology is expected to increase.
If you are a law firm looking for a solution to your existing processes, Intelligent Automation is your answer, we’re here to help you make that first step.
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