How your law firm can benefit from a consolidated legal tech stack
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As you serve your clients, you need to do lots of different things at once. Not only must you deliver top-quality legal work, but you also need to communicate and collaborate with clients in a timely manner, carry out multiple processes efficiently, and provide visibility over progress and next steps. You have to keep raising the bar on delivering superior client experiences while keeping a keen eye on profit margins.
Achieving all this relies on smart tech tools just as much as the human touch. Legal professionals need to leverage technology to enable them to do their best work, at pace, however complex.
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Drive sustainable profitability by working smarter
Enhance your reputation for excellence
Keep colleagues — as well as clients —happy
Less is more with HighQ
Tackling common challenges
Success stories speak for themselves
Technology has the potential to streamline your firm’s business, improving productivity by automating processes and enhancing communication through intelligent collaboration tools that enable your team to do a better job faster. Technology also has the potential to massively complicate your environment if the right solution is not deployed, or if all these functions are handled by different products and resources from different vendors – each with their own workflows. The result can be a mess.
An advanced, consolidated legal tech stack – a collection of software that simplifies tasks at your law firm – should combine artificial intelligence and automation to deliver an end-to-end client collaboration experience and be a game-changing solution. Having all the tools you need – connected and in one place – will help you drive profitability while enhancing your reputation for excellence, setting you apart from the competition in the eyes of clients and attracting top talent.
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An intelligent, connected, and consolidated legal tech stack is essential for every law firm today.
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Drive sustainable profitability by working smarter
The legal landscape is highly competitive, and your ability to work smarter will help boost profit margins while simultaneously setting you apart from your rivals. A consolidated tech stack should enable you to streamline resource allocation to enhance efficiency in your workflows, as well as implement data-driven strategies (using the intelligent insights your tech stack provides) to ensure long-term business success.
Enhance your reputation for excellence
Offering a distinctive customer experience can help you to win new business and retain existing clients. A well-designed tech stack should support and facilitate this, enabling closer collaboration both internally and externally, allowing you to innovate your service models to meet evolving client demands and even exceed their expectations.
Keep colleagues — as well as clients — happy
Eliminating barriers to service delivery will not just keep your clients happy. Removing friction and optimizing ways of working should also give your talented legal professionals greater satisfaction by making it easier for them to do their jobs well — and by letting them know they are working for a firm that is ambitious for continuous improvement. What’s more, if people can share expertise easily via your tech platform, you can offer new avenues for career advancement to attract and retain world-class talent.
Less is more with HighQ
You want to give your clients the best. But when it comes to technology solutions, more is not always more. Deploying too many different systems and solutions can have the opposite effect of what is desired. A consolidated and adaptable legal tech stack like HighQ empowers you to become more efficient, agile, and competitive; work more intelligently and collaboratively with colleagues; and deliver more responsive, transparent, and valuable services to clients.
HighQ helps you create greater operational efficiencies by turning time-consuming, repetitive tasks into automated, intelligent processes that not only boost profitability but strengthen your legal operations and workflow, enable seamless information and insight sharing, and improve engagement with clients.
Source: HighQ Customer ROI Report, April 2024
Tackling common challenges
HighQ combines multiple common tasks into a single tech stack, or platform, for a streamlined experience from end to end, including legal project management, team collaboration, and enhanced communication. This helps you plan, organize, track, and complete work more efficiently and intelligently and work better with teams and clients.
This complete legal tech stack lets you capture, store, and search all information and files related to your clients’ matters, gain instant, secure access to the critical documents and details surrounding your cases, and complete transactions quickly and effectively. HighQ delivers a holistic approach to regulatory tracking and compliance for you and your clients and facilitates a state-of-the-art client experience with enhanced client engagement and value, giving you another point of differentiation.
Success stories speak for themselves
Source: HighQ Customer ROI Report, April 2024
Technology that can connect colleagues and clients, centralize documents and data, enhance and streamline processes, offer a modern user experience, and deliver custom client solutions that set it apart is vital for international law firm Bird & Bird. Over the last ten years, the firm has continuously developed its use of HighQ.
Initially, the firm used HighQ to provide secure deal rooms to enable documents and information to be shared easily. Now, it delivers dedicated client portals as a one-stop shop for client needs and creates customized solutions for specific and often complex client requirements. All this saves lawyers’ time and empowers clients to have greater access to and visibility over their matters. It improves communication and eliminates the friction created in manual processes while delivering a modern, tailored, leading-edge user experience.
Eric Sham, LegalTech Solutions Manager at Bird & Bird, says: “Clients are now really interested in how we can leverage technology to keep their costs down or make sure they’re getting the most efficient and streamlined legal service. That’s where technology gives us that value-add as a company. Among the complicated and emerging LegalTech market, we have strategically chosen our LegalTech stack here at Bird & Bird.”
HighQ is one of the products we have at our disposal, and it plays a crucial part in adding value to the client work we do as a law firm. It’s so flexible we can use it in many different ways depending on the matter and what works best for the client, catering to their needs.
The bottom line is that in a digital world, we need innovative law firms enabled by technology to keep pace and drive competitiveness. As these client stories show, having connected legal tech solutions can help streamline processes and make work more efficient.
Find out more about how Thomson Reuters HighQ empowers legal professionals to optimize processes, showcase expertise, and provide a superior client experience whilst navigating in a dynamic legal landscape, or book a consult to see the solution in action for yourself.
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The post How your law firm can benefit from a consolidated legal tech stack appeared first on Thomson Reuters Law Blog.
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