In an increasingly saturated legal market, it is imperative for law firms to maintain a competitive edge. A recent article by Law Technology News “Technology Curve or Survival Curve?” brings to light the role of technology in advancing the firm ahead of competitors. Utilizing the right technology is key to maximizing ROI, which ultimately yields lower cost due to efficiency while also bringing greater value for the client. Unfortunately, many law firms are often hesitant to make a switch from their current system, due to budgetary, time or process constraints.
Anaqua’s IP Practice Maturity Model (IPM3) was designed to allow users to more easily evaluate their firm’s current position on the path toward implementing best practice technology and to prioritize areas for improvement. We encourage you to use this tool to learn how advanced technology will help you to stay ahead of your competitors. Impact on the business will be clear and measurable, from both a strategic and operational perspective.
Advanced systems enable a firm to generate performance reports that allow those in all areas of the firm, from office administrators to senior partners, to spend more time on high-margin tasks and less time on low-margin activities, yielding more sustainable profitability. Switching from a traditional docketing system to a more sophisticated and integrated workflow will also mitigate risk by adding levels of review and control, automated policy and system alerts, and also lessen the burden brought on by staff turnover. Attorneys, previously hindered by time spent on administrative tasks, will have more time to dedicate to their clients’ needs, translating to a higher perception of value delivered. Enabled by the age of technology, customers have come to expect information to be readily available to them and for response times to near immediacy. Recording and processing data through an integrated system allows the client to access their most up to date account information and also allows the attorney to instantly locate a client’s information in order to deliver timely response. Upgrading your business workflow with advanced IP Practice Management software is more than just a step in the right direction, it is an investment that will be key to survival.
To learn more about Anaqua’s robust software-based IP Practice Management solution, contact us to request a demo.