Digital transformation impacts law firms. Legaltech is booming, solutions are multiplying and the ecosystem is increasingly mature. But is this an opportunity or a threat in the field of law?
The world of law is more competitive than ever with a growing number of lawyers and niche firms. The market is also tending to become more massive. Thus, it is less and less rare for lawyers, jurists, auditors, chartered accountants and notaries to work together on similar areas. In addition, the relationship with customers has changed. Yesterday, the pricing policy was set by the lawyer, today it is the client who sets the pace and requirements. Technology has redistributed the cards. It is embodied in legaltech: “A client for whom we were carrying out recovery left us because he opted for a more efficient bailiff tool,” summarizes Jean-Charles Simon of Simon Associés without bitterness.
In Australia, a lawyer is a Legaltech
Law firms are changing like the consulting field. Although France is the second stronghold in terms of legaltech behind the United States, adoption is taking place slowly in France: “We are 20 years behind England. And in Australia, a lawyer is a legaltech in himself! », Says Océane Phan-Tan-Luu, lawyer at Alphalex. Since clients are looking to save time, law firms are equipping themselves to automate repetitive tasks. This is concretely the case in the field of drafting contracts or clauses. This form of robotization should spare niche activities. Indeed, technology allows lawyers to concentrate on actions where they can provide real added value. Furthermore, new tools promote loyalty thanks to better circulation of information and greater responsiveness to hyper-connected customers.
The lawyer must think like an entrepreneur
The implementation of digital transformation is considered a performance amplifier and a management facilitator. It supports the business strategies of law firms for whom the term “sales” is no longer a bad word. “The profession is evolving. The lawyer must think like an entrepreneur: market, needs and return on investment,” argues Jean-Charles Simon. According to a study carried out by Nomination, whose job is to facilitate the detection of commercial opportunities, firms favor winning new clients rather than defending their portfolios. An effort to structure commercial development which materializes, for example, with the deployment of a CRM. However, the success of such a project depends on the quality of data on customers and prospects as well as the ability of associates to pool their address books.
The opportunity to differentiate yourself
El Dorado is seen by some as a mirage. These detractors fear its cost. It is an investment like any other provided that employees take ownership of the tool(s). In the short term, the solutions give associates the opportunity to increase their added value. In the long term, firms will have a head start on the competition: “By acquiring a skill that is currently poorly mastered by colleagues, lawyers have the opportunity to differentiate themselves,” explains Alexandre Yeremian, CEO and co-founder of Jarvis. Legal. Far from threatening the profession, digital transformation would therefore go in the direction of history: “There is no other way,” says Jean-Charles Simon. However, firms should not fall into the opposite excess by piling up software. Certainly, legaltech is full of tools. Firms will be spoiled for choice. It’s up to lawyers to judge. For once.