The year 2020 has been really challenging in many aspects. In fact, it’s one of the biggest crises humans would have seen ever. The pessimistic word ‘loss’ has been suffixed with almost every dam thing the society. There would be nobody who remained unimpacted by this wave.

Though many losses are uncontrollable and irreversible, but there are few which can be controlled if we adopt some change at right time.

The measure of intelligence is the ability to change Albert Einstein

There has been a massive turnaround in the way businesses have been functioning. Law firms also have not been untouched by this change wave. In fact, change has not come as an option, but it has come as a dire need to remain in the business.

Research says it clearly that the law firms reluctant to process and the technology would be slowly moving towards the verge to collapse. So, to remain in the game it’s a must adopting the processes and the technology.

So, let’s talk about the top 3 changes which law firms must adapt in 2021 for the sake of sustenance, survival, and growth.

1. The Niches
   There was a time law firms have been offering all kinds of services to their client. A big change has been noticed in this approach. In fact, clients are preferring the firms which are offering specialized services.

   Legal and compliances are something which is vast in the subject. Considering the business-wise complexities which are introduced and imposed into many industries has created the need for specialized skills in the subject area. Niche is something that’s going to enable firms of any size to attract clients with specific needs. Law firms with specialization in their practice are going to be preferable by their customers.

   So, it’s time to identify the core strength and work on it to become an excel in the category.

2. Processes Implementation
   At Legalxgen we come as process and productivity enabling experts for the law firms. In fact, it’s just with the processes and technology we help law firms to become at least 25-30% more productive and profitable. Many people have an assumption that process is just fancy jargon and it has nothing to do with the growth of the business.

   So, let’s make it easy, “what does it mean by the process for any law firm?”
   The activities which streamline any business are called processes. Following are the few processes which law firms need to focus on.

• Client & Matter Creation
• Timesheet
• Billing & receipts
• Documents
• Business Development Plans
• Goals of Key People

3. Technology Adoption
   Just like the process for the technology as well people do think that only big law firms need it. But the fact is entirely different. Technology adoption can eliminate 40-50% unproductive hours from the schedule of a busy lawyer. And this time could be used for the growth for sure.It’s not only eliminating the unproductive hours, but it’s extremely helpful in sealing the revenue leakage tremendously.

   Just an interesting fact, ‘law firms fail to bill 40% of their matters in an FY’! Yeah, we’re serious, in fact, there are law firms for which this figure is even higher.

   So, to conclude technology can help any law firm in multiple aspects either it’s business development, internal operations, timesheet and billing, collaboration, communication, and so many other things.