Running a law firm looks quite a bit different now than it did ten years ago. As the decade comes to a close, let’s continue our discussion on some of the most notable law firm management trends from the 2010s so we can have context going into the next decade.
A Data-Driven Approach
Access to information is more critical to law practices than ever, and modern technology allows us to retrieve and analyze data faster and more efficiently than ever before. Not only can we access law archives more quickly and easily when researching precedents and developing legal strategies, but analytics also helps us ascertain whether our marketing campaigns are having the desired effect. With advances in automation and the integration of artificial intelligence functions, we’ll be able to process data even more effectively by focusing only on what is relevant.
Focus on Cybersecurity
The convenience of doing business online has come with a new set of challenges. Cybersecurity has become a top concern in the business world, including the legal profession. With cybercriminals constantly inventing new ways to infiltrate our computer systems, law firms need to be especially vigilant in handling clients’ sensitive personal and financial information. In 2018 alone, at least 62 percent of law firms surveyed had experienced some form of data breach. Implementing firewalls, backing up hard drives, changing passwords and training staff in cybersecurity protocols can go a long way toward safeguarding data, but protecting client and business data must stay a top priority in the years to come.
We’ve saved the best for last mainly because it informs virtually all the other trends we’ve discussed. The 2010s have been a decade of major technological breakthroughs, and technology has completely transformed how most attorneys do business. The changes have come with some risk (see the above point about cybersecurity), but for the most part they have made our jobs much easier. Technology has effectively empowered smaller law firms and solo practitioners to compete with firms many times their size. It’s allowed us to automate more of our menial tasks, enabling us to focus more on client service. It enables us to do business from almost anywhere. And moving forward, new technologies like AI and machine learning will no doubt have a huge impact on how our law firms work in the next decade.
All these trends aside, growing a successful law firm still requires hard work, diligence, and making the most of the new tools we have available. To learn more about how to position your law firm for success in the upcoming decade, give us a call at 888-207-2869.