With the never before the influx of technology in law practice, it is highly inevitable that your legal practice is not going to be the same. From typewriter to artificially intelligent lawyers, technology has come a long way. More important is to mention the rate of acceleration as it is pacing up like never before. It is crucial to leverage this technology to benefit. High time that the Law Firms take control of their technical infrastructure and make necessary up-gradation if they want to compete in this globalized economy.

In legal industry and legaltech, it has multi-fold implication. For the practitioners, it is equally important to update the way they manage their firm and their schedule as that of their knowledge. Lawyers who use management tools and calendars are undoubtedly taking an edge over the traditional diary users. To further stand out of the rest, those who are using exclusive practice automation tool are moving ahead of the free apps users, as they are able to reap the benefit of constant updates and premium features.

For the solution providers, it is important to constantly update and upgrade the automation tool to make their customer’s practice easy and streamlined. More importantly, evolving the product constantly helps in justification of price and has the direct impact on the retention of the customer. The ones who are able to do that have higher chances of sustenance compared to those who provide legacy based systems.
It has been noticed that the law practitioners, using automation solution are ready to pay a price for the solution with regular updates and feature adds, as the premium paid is fractional compared to the returns. ‘Hence it is fruitful to pay a premium for a farm that yields constantly and increasingly!’

In the long run, it is evident for both legal practitioners as well as a legaltech solution provider, that the ones who keep updating stay in the market.