Lawyers have been slow to adopt new technologies that could bring efficiencies and cost savings. Read how Panache Software can help, not just in a single area, but in multiple aspects of your business.
We lawyers have moved from the quill, to the word processor, to Word (though check which version) to prepare documents. And we have moved from letters, to the fax machine, to emails to communicate. But progress beyond that is negligible.
I had the misfortune as recently as 2016 of working opposite a firm that still didn’t have email, and would only communicate with me by post, and when matters got desperate, by fax. If you don’t believe me, just look in the reception of a local high street law firm, past the plant in front of the desk at reception, and you will see the fax machine lurking.
Why is it that an industry full of bright people is so far behind the curve when it comes to using technology? The answer probably lies in the fact that senior lawyers running these firms tend to be less inclined to try new things, and that lawyers used to be paid to be inefficient. But gone are the days that your lawyer could go slowly, incur more time, and send you a big bill. Customers demand a better service, more quickly and for a lower price. Lawyers not willing to adopt new technology won’t survive the next few years: they’ll become less efficient, more expensive, and customer loyalty isn’t what it used to be.
Customers of law firms now ask lawyers what technology they’re using to deliver them the best value. In this blog, I explore some of those technologies and detail how Panache Legal can help.
Lawyers get paid for the documents they produce. Whether it’s a contract, a claim form or just an advice note. Everything ends documented. Why not earn more and speed up the production (and accuracy) of those documents with Document Automation?
Document Automation should be very simple. You fill in a template with names of parties, amount of consideration, etc. You chose a few ‘yes/no’ type options, click a button and presto, your document is produced for you by the Document Automation provider.
Document Automation is always useful no matter the size or type of document, and those producing high volume work of a recurring nature can get massive benefit from this. Just think how many more claim forms, wills, or plot sales you could progress if you didn’t have to make changes to documents manually and you knew any changes would be correct, every time.
Where speed and cost are key (these are the very essence of Document Automation) why haven't all lawyers embraced existing Document Automation solutions? Cost. Not just monetary cost, but time costs. Existing solutions are complex, requiring months of work to create templates, often with the help of paid external consultancy. What then happens when you need to make further changes. More costs.
Panache Legal's Document Automation is different, providing features that let you turn your existing documents into templates simply by dragging and dropping them in to the system. No coding is required. With Panache Legal you can sign up in the morning and be using it to automate document production by the afternoon, not in 6 months like existing legacy solutions.
Automated Time Recording
How many hours a day are lost by under-recording? Trainees and newly qualified lawyers are particularly bad at time recording. Make it easy on them and your business by using Automated Time Recording.
Time recording technology has been around for years, and it shows. Panache Legal records everything you do automatically. It knows what cases you're working on and for what clients. You don’t have to put everything on your timesheet, but isn’t it nice to have the choice?
If you charge £300 an hour and capture just one extra unit per day, you could earn £150 more a week, or have an extra £6,750 at the end of a 45-week year. You’d only need to recover 74% of that to make an extra £5,000 a year. Can you afford not to use Automated Time Recording?
But what if you already record time in another system? Panache Legal provides a full suite of APIs allowing full integration with other systems and enhancing your existing investments.
Don’t be fooled into thinking you can give up your day job and let a machine do your work for you. And don’t be frightened into thinking you will soon be made redundant by Artificial Intelligence. There are a lot of people out there claiming that Artificial Intelligence will replace people and that it is much more powerful than it actually is.
Machines won’t think for themselves, so as long as what you do requires thought, you’ll be needed. However, machines will do what you ask of them.
Panache Bot is our Artificial Intelligence solution and it can take on many of the jobs you might ask of your support staff. Opening new files, preparing documents, letters and bills are all within Panache Bot’s capabilities. We want Panache Bot to do the boring day to day tasks for you and let you get back to doing what you do best, being a lawyer.
Take a look at Panache Bot in action and ask what tasks could Panache Bot do for you that you currently pay for? Tell us, we want to know.
Business Intelligence & Analytics
Running a law firm is not just about providing legal advice. It’s running a business, and to improve it, you must examine it. To do that, you need reports to help you make informed decisions about what’s profitable and what’s not, what’s done quickly and what’s not. Utilise the best Business Intelligence & Analytics functions available through Panache Legal.
By delivering a multi-faceted technology solution, and by keeping the data out of the documents, we are able to offer Business Intelligence & Analytics features quickly and using metrics that will actually matter to you, all in a single platform.
Panache Legal is built with Document Automation and Business Intelligence at its core so we can provide information on areas you haven't considered before. Existing solutions can already provide analytics on costs, but can those solutions provide you with information on which documents take the most time to produce? Which documents get changed the most through their life cycle? This information can allow you to determine exactly where time and cost improvements can be made.
All of this makes it easier for you to examine your business, but it also makes it easier for you to help your clients manage theirs. By utilising the data from the same Document Automation platform, you can run reports on your client’s contracts in an instant. Impress your clients like never before using our Business Intelligence & Analytics.
Client demands are changing. Clients seem to expect faster and better service but aren’t prepared to pay for it. How do you, as a lawyer, keep up with those expectations?
Technology is a key solution. To survive, lawyers must accept technology and be willing to embrace the advances. That needn’t be daunting. We know some technology is hard to use and means you spend time ‘figuring it out’. That’s not good technology and it doesn't always have to be that way.
Good technology is easy to use and saves you time. Those two facets are at the core of everything we do. Speak to us about your existing technology: good or bad. Tell us about your technology concerns. Panache Legal is designed and built to help you improve your business through the use of good technology.