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from MinuteBox
Modern technology has dramatically changed the legal industry. Today’s legal professionals have more flexibility to undergo discovery, undertake research, commence depositions, and manage minute book records for multiple cases.
The best solutions enable professionals to streamline common workflows and operate more efficiently. Streamlined workflows equate to significant time savings, particularly for paralegals and law clerks whose primary duties revolve around clerical and administrative tasks to support the interests of their respective firms.
What accelerated the adoption of new legal technologies?
One of the accelerants that fueled the adoption of innovative legal technologies was the COVID-19 pandemic. Confined to home environments and locked out of their offices, paralegals were no longer able to conduct their duties in the traditional sense.
According to MinuteBox co-founder Sean Bernstein, in an interview with Canadian Lawyer, the pandemic forced firms to introduce innovative legal technologies to their workflows, because there were no paralegals at the office to get legal talent answers to their clients’ questions.
“In COVID times, that’s the one thing they couldn’t do. And as a result, their clients suffered, their work product was delayed, and they couldn’t deliver what was necessary in order for them to have a good legal practice.”
What purpose does legal technology serve for legal talent?
Legal documentation is one of the most time consuming and repetitive processes in any operating firm. In many cases, clerical and administrative work can actually get in the way of client relations and billable hours. In fact, the average lawyer bills just 2.5 hours in an 8-hour workday, amounting to only 31% of their professional time.
It’s not just law firms that struggle with an abundance of clerical work. According to EY Law and the Harvard Law School Center on the Legal Profession, a survey of 2,000 business professionals, 87% of corporate general counsel say their departments spend too much time on clerical duties and legal documentation.
During the pandemic, many professionals acknowledged their need for a unified minute book management process that was more efficient, flexible, and autonomous. According to Sean, this drove firms to consider document automation solutions that functioned within the digital cloud.
“There is now the belief that things not only should change but need to change, and that feeling is coming not just from legal innovators but also from the law firms. They recognize that in every circumstance, service needs to be delivered in different ways. And in many ways, it needs to be delivered in a better way to ensure the client experience.”
How document automation software improves paralegal workflows
So how can document automation software improve paralegal workflows and enable legal departments to function more efficiently? Here are the four main ways that legal departments are becoming more streamlined thanks to document automation solutions.
Reduces laborious time spent on clerical work
The biggest advantage of document automation software is the time savings it delivers to firms. Document automation software is an intuitive innovation, automatically generating structured PDF-style minute book records when new client data is uploaded into the platform.
Instead of combing through individual files to organize the minute book, the software does all the organization for paralegals. Suddenly, a process that once took several hours for each client case file can be fully automated and completed in a matter of minutes.
No code document assembly means no technical expertise required
Sometimes, companies are slow to adopt innovative technologies because they lack the technical expertise to manage those solutions. Law firms and corporate counsel no longer have any need to fear document automation technology since it’s built to serve the non-technical legal professional.
This is a feature that MinuteBox has perfected and that few other document automation solutions can deliver. No-code document generation easily creates and customizes legal documents without the need for a trained developer. The platform is intuitive enough to generate those organized minute book records without human technical assistance. All your paralegals have to do is simply upload the data, and the platform will do the rest.
Built-in automated compliance module helps firms follow the letter of the law
Law firms or in-house general counsel are often tasked with creating a compliance program. The sequences involved in creating a compliance framework are also time consuming, and enforcing the policies requires diligent management by legal professionals.
Using a document automation solution, the platform’s built-in compliance module monitors all entity data for any errors and statutory non-compliance risks. This extends to monitoring organizational charts, calendars, workflows, date-based compliance tasks, and other templates that could derail the effectiveness of a compliance program.
The penalties of non-compliance include stiff financial penalties for the business entity, as well as potential jail time for the executives and directors who permitted non-compliance. Document automation software helps your legal team enforce compliance and protect the business.
Efficient workflows empower paralegals to deliver greater client service
When paralegals are no longer spending up to 70% of their working days on clerical work thanks to document automation software, more time is available to work directly with clients on their case files. Client service is essential to boosting client retention rates and improving Legal Recurring Revenue for a firm.
Since document automation software like MinuteBox is a cloud-based solution, paralegals can also service clients from locations of their choosing. Granting clients access to the digitized documents in the platform allows them to view the records from remote locations. Service is far more convenient when clients aren’t required to visit law offices to discuss their cases.
The city of Montreal will serve as host of the 2023 Institute of Corporate Directors (ICD) National Director Conference & Fellowship Awards Gala. The event brings together international thought leaders and experts to discuss how new breakthroughs are disrupting corporate governance conventions and leading to massive transformational change.
One of the main themes at the event is how to manage human capital and workforce talent. Discussions will range from the governance of talent management to the reassessment of how corporate boardrooms oversee executive talent.
Technology and innovation revolutionize talent management
Since the COVID-19 pandemic, most of the corporate world has adopted remote flexible work arrangements as the new norm. Innovative technologies enable professionals to conduct their business from any location in the world. Companies that support remote work and use of innovative technology have a leg up in the talent acquisition and management markets.
In a survey of over 140 business leaders across multiple industries, 94% of respondents said their corporations will continue to transition their workforces towards remote work. They also cited a number of investments that will be necessary to make this transition permanent. High on the list, according to 52% of respondents, is investing in the right software.
Innovative technology can attract the best legal talent
When companies discuss innovative strategies to modernize corporate governance, the discussion must include how to use those same solutions to attract top legal talent. Corporate governance and compliance protocols are core responsibilities of in-house legal teams, so it’s essential that legal entities attract the most capable talent to join their workforces.
Legal professionals appreciate corporate entities that embrace innovative technology designed to modernize corporate governance using flexible workflows. Corporations that cater to those interests and modernize corporate governance workflows have a leg up on both attracting and retaining the best legal minds in the business.
A Thomson Reuters survey found that legal professionals are willing to remain loyal to entities that support more flexibility and autonomy in their work schedules. At the same time, they’re willing to move on from firms or in-house counsels that reject innovation.
Use entity management software as a recruitment strategy
To demonstrate to high-valued legal minds that your corporation is committed to innovation, entity management software is one of the best software investments for the business. Entity management software is designed by legal professionals to help other legal professionals modernize minute book management, streamline clerical processes, and implement effective corporate governance protocols all within the convenience of one centralized system.
One of the most tedious legal responsibilities is clerical and administrative work. In fact, studies have shown that the average legal professional spends nearly 50% of their day on administrative and clerical work.
Entity management software is designed to simplify these mundane tasks using custom built templates housed within the platform. The software is intuitive and automatically converts inputted minute book records into PDF-style documents that can be disseminated to the proper stakeholders. Suddenly, the amount of time spent on clerical duties is dramatically slashed.
Entity management software’s built-in governance templates simplify legal workloads
Issuing and maintaining effective corporate governance protocols protect your organization from significant legal penalties, including the possibility of jail time for senior executives as punishment for serious violations of the law.
Using entity management software’s built-in compliance and governance protocols, your legal team ensures all aspects of the organization are functioning in an ethical and legally responsible manner. The platform uses modules to establish governance and compliance frameworks with documented sequences for how to enforce those protocols.
Within those modules are pre-built sequences that highlight errors, statutory non-compliance, and data-based compliance tasks still pending finalization. Additionally, the platform has easy-to-use templates to create structured organizational charts, compliance calendars, governance workflows, and other processes to enforce the proper systems.
Banking, financial, and legal industries have traditionally been slow to adopt innovative technologies. As other industries view modern technology as an innovative solution that streamlines workflows, several of these traditionally managed sectors have resisted efforts to modernize their operations.
However, the game is beginning to change. Corporate and transactional practices such as banking, finance, real estate, and litigation have increasingly explored the impact of innovative technologies on their respective practice areas.
Future of banking and finance is digital
As younger consumers demand more flexibility and convenience from banking services, the future of retail and mobile banking is growing more digitized. Insider Intelligence conducted their fourth Mobile Banking Competitive Edge Study, and the insights point to this growing trend towards digitized consumer banking.
In their findings, 45% of respondents say financial institutions that offer mobile app-based banking solutions are at the top of their list of preferred bank providers. Clearly, there’s a growing consumer demand for more innovation in these spaces, but the advantages of modern technology can also improve internal business processes at these institutions.
Banking executives see technology as a means to save costs
In the same report, 39% of banking executives say that incorporating technology into their own internal workflows can help lower costs for their businesses. The right solution can also deliver more autonomy and flexibility to how executives access important business records. Up to 77% of business leaders say they want the freedom to view business data from remote locations, continuing the hybrid workflows adopted throughout the COVID-19 pandemic.
Incorporating methods that innovate and streamline administrative and clerical processes can save valuable time and working capital for banking and financial institutions. Incurred labour costs to finalize important agreements between banks and their clients are dramatically slashed by adopting modern technology.
Why document automation solutions drastically cut costs
Document automation is one such solution designed to innovate industries and reduce operating costs. Document automation refers to the design of systems and workflows that streamline the creation of electronic documents.
Since banking and finance industries conduct daily transactional practices, document automation can make checklists or virtual closing lists more efficient for the institution. Many of the documents involved in these processes are virtually identical, except for specific information about the client in service.
With document automation technology, most of the workflows to create those deals are consistent from client to client. Once the templates are created, they can be cookie-cuttered, duplicated, and customized to each client experience.
How document automation improves B2B client relationships
When documentation is completed more efficiently, the deals attached to those documents can be finalized with more speed and precision. If large deals are being conducted between one large banking institution and another corporate entity, the speed and efficiency delivered through document automation solutions generates more revenue at faster rates for both entities.
As a banking institution, client satisfaction is essential to earning repeat business. Providing clients with faster models to finalize important business documents makes the process more efficient for the end client. Fast precise completion of their business deals means those satisfied clients are far more likely to come back to your institution when they require financing for another important deal.
Entity management platforms automate documentation
When banking and financial institutions are ready to modernize their workflows with automated solutions, it’s important they select the right solution to support their needs. Entity management software is one of the best solutions on the market.
Entity management platforms are cloud-based solutions, which means users can access all information stored within the platform from a location of their own choosing. This flexibility perfectly aligns with what banking executives are looking for in a document automation solution. They can view the records remotely, secure with the knowledge that their documents and business records are protected in the cloud using biometric and hardware key authentications.
Entity management platforms have pre-built document templates. Any legal documents to finalize a major banking transaction can be duplicated and modified in a matter of minutes.
Once an initial template of that document is created, the platform allows users to quickly duplicate those documents. Minor edits and revisions can be implemented to customize the documents from client to client or use case to use case. It’s a much faster process that simplifies everyone’s lives!
Yes—being a paralegal can be extremely stressful due to heavy workloads, tight deadlines, repetitive administrative tasks, and the pressure of supporting attorneys on high-stakes legal matters. The combination of these factors often leads to exhaustion and burnout.
Why Is Being a Paralegal Stressful?
Paralegals or law clerks have extremely stressful jobs. Their responsibilities include anything from office management to case research, and especially drafting legal documents for attorneys to present in discovery or in court. The outcome of paralegal activity has a direct effect on how legal matters proceed.
Supporting legal professionals as they service their own clients, paralegals are faced with enormous pressure and challenging responsibilities. Sometimes, the pressure becomes all encompassing, causing some paralegals to experience such strong feelings of burnout that they consider quitting their profession.
The 6 Stress Factors at a Glance
Here’s a quick overview of the main factors that contribute to paralegal stress and exhaustion:
- Changing expectations — Constantly shifting priorities and unclear direction
- Lack of decision-making authority — Feeling powerless in a top-down hierarchy
- Negative office politics — Toxic workplace dynamics that diminish performance
- Heavy and repetitive workloads — Tedious clerical tasks that fill entire days
- Pendulum swings between busy and inactive — Inconsistent workloads causing anxiety
- Feeling alone — Lack of support and recognition from colleagues and managers
Paralegals are essential members of any law firm
As legal practices, it’s important to support your paralegals because they really are the linchpin of your firm’s success. Managing the day to day aspects of the firm and drafting up important legal documents are among their most important responsibilities.
Ensure your firm is effective at servicing clients and boosting Legal Recurring Revenue by helping your paralegals complete their tasks with efficiency, precision and professionalism. At the same time, acknowledge that paralegals are often under enormous pressure and faced with powerful feelings of stress when completing their tasks.
Empathizing with and understanding your paralegals’ frames of mind will go a long way to avoid those feelings of burnout. When paralegals feel both appreciated and motivated, they’re willing to put in the long hours necessary to complete their jobs and support your firm.
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6 common stressful paralegal challenges
So what are the most common challenges that contribute to paralegal stress, exhaustion, and burnout? Here are six of the most common paralegal pain points that legal talent should understand so that the right solutions are properly implemented.
Changing expectations
During the discovery phase of any legal situation, new information is uncovered. Sometimes, that information directs talent to make a change in the legal strategy. However, if the direction is constantly shifting around, paralegals feel a lack of direction or hopelessness. They feel somehow stuck and incapable of satisfying their legal obligations.
Instead of creating environments where the expectations are constantly shifting around, try setting clear goals that paralegals can work towards. If the aim is to generate more revenue, encourage paralegals to focus on tasks that will drive more business for the firm. Help paralegals make the best use of their time so that they can contribute more value to the firm.
Lack of decision making authority
Since paralegals work under the direction of and at the behest of trained legal professionals, the firm’s hierarchical structure is laid bare. At the same time, a top-down managerial approach leaves paralegals feeling powerless to influence decisions that impact the future of the firm.
Rather than allow this environment to develop, change the way decisions are made at your firm. Grant paralegals the authority and influence to make decisions on how business is conducted. Help paralegals feel as if their voices are being heard so that they understand their thoughts and feelings are granted proper consideration. They’ll feel much happier and more encouraged to make effective contributions that improve business for the firm.
Negative office politics
At the height of the Great Resignation during the COVID-19 pandemic, as many as 40% of all workers said they were willing to quit their jobs for another position. Employees were not willing to return to full-time in-office work environments, and one of the main cited reasons was a disillusion with office politics.
It’s hard to say how much office politics impacts paralegals and law firms, in general. But if co-workers or managers decide to politicize work environments, it can create very toxic situations that diminish performance. Help your paralegals feel like they’ve avoided office political work traps by keeping the focus squarely on productivity. Show your entire legal team that collaborative shared efforts will help grow the firm and deliver the best service to clients.
Heavy and repetitive workloads
Among the most common paralegal tasks and responsibilities are managing clerical and administrative office work. It can be taxing, tedious, repetitive, and unfulfilling if a paralegal’s entire day is spent solely on inputting data into records, or sorting binders of files in cluttered office spaces.
By modernizing your firm’s approach to entity management, you can relieve paralegals of the tediousness of clerical work. Simplify the recordkeeping process by introducing legal entity management technology to your team’s daily operations. This will streamline clerical work, introduce more efficiencies across the firm, and help every member of the team earn back more time that they can use to contribute to the growth of the firm.
Pendulum swings between busy and inactive
If a firm is growing, there’s likely an abundance of work that needs to be done. However, during slower times, there can be very little work for paralegals to do. The inconsistency triggers stress and anxiety for different reasons. During busy times, stress is due to tight deadlines and competing priorities. Quiet periods of time leave employees feeling anxious that their job security could be at risk if things don’t turn around for the firm.
One way to help alleviate these stressful feelings is to teach paralegals how to prospect for new clients. When things are slow, your paralegal team can use their research skills to search for new potential clients that could benefit from the firm’s services. If they help land a new client, they feel very proud and accomplished. Those feelings may even trigger added incentive and motivation to complete the clerical work that comes from that new case since they feel a personal attachment to the client in question.
Feeling alone in a firm of legal talent
Finally, a lack of support, or the perceived notion that there is a lack of support can impact any employee’s productivity. Paralegals who feel as if they’re constantly at odds with their superiors may believe they’re fighting a losing battle, a one-person army with no victories to claim.
Make sure your firm’s culture is always inclusive and provides every member of the team with the resources they need to complete their jobs. No one likes to feel as if they’re adrift on their own, so make sure that your firm celebrates every member of the team and recognizes his or her contributions to support the growth of the business.
What Firms Can Do to Alleviate Paralegal Stress
Creating a supportive environment for paralegals requires intentional effort. Here are practical steps firms can take:
- Set clear priorities — Establish consistent goals and communicate when priorities shift
- Empower decision-making — Give paralegals authority over their workflows and processes
- Foster collaboration — Build a team culture that values everyone’s contributions
- Modernize workflows — Invest in technology that eliminates tedious manual tasks
- Provide recognition — Acknowledge accomplishments and celebrate wins
- Offer growth opportunities — Create paths for professional development and advancement
How MinuteBox Helps Reduce Paralegal Stress and Exhaustion
It’s natural for anyone to feel stressed at certain times in their jobs, but there are ways to minimize those stressful episodes. Making investments in the right resources can go a long way towards helping paralegals feel more productive and more secure so that they can contribute more in the way of accomplishments.
MinuteBox is legal entity management software designed to help paralegals become more efficient and more productive. The platform centralizes all clerical records in one location, functioning as a singular source of truth that aligns every stakeholder in a given case.
Key benefits for reducing paralegal stress:
- Eliminate manual data entry — Automate repetitive tasks that consume hours each day
- Instant document retrieval — Find any record in seconds instead of searching through filing cabinets
- Automated compliance tracking — Never miss a deadline with built-in reminders
- Single source of truth — End version control confusion and conflicting information
- Streamlined workflows — Complete tasks faster with intuitive, purpose-built tools
Since the platform functions as the singular source of truth, paralegals can quickly review the records to exert authority when key decisions need to be made. Data is the source of facts, which helps mitigate or eliminate the potential for negative office politics.
Most importantly, entity management software streamlines clerical workflows and reduces the burden of repetitive data entry. Paralegals can earn back valuable hours in their days to help support the growing interests of the firm. It’s a faster, more efficient workflow that helps all members of the firm feel more accomplished.
Key Takeaways
- Being a paralegal is inherently stressful due to heavy workloads and high-stakes responsibilities
- The six main stress factors are: changing expectations, lack of authority, office politics, repetitive work, inconsistent workloads, and feeling unsupported
- Firms can reduce stress by setting clear priorities, empowering paralegals, and investing in modern tools
- Entity management software like MinuteBox eliminates tedious tasks and gives paralegals time back for meaningful work
Ready to reduce stress for your paralegal team? See how MinuteBox supports paralegals end-to-end — speak to an expert today.
People don’t like change. That is a humanistic trait that resonates with professionals all over the world. You’ve done things a certain way for five, ten, maybe twenty years, and you’ve been very successful with your established workflow. You don’t want to be told that you have to change.
This is a common roadblock when companies attempt to introduce automated technology to their teams. In industries like the legal community, which have traditionally been very resistant to modernized workflows, resistance to change is particularly strong.
What are the common reasons for resistance to change?
There are two major reasons why companies, including law firms, resist adopting changes to their collective workflows.
The first major reason is a human trait as old as time itself. People get set in their ways and don’t want to adapt to anything new. If you’ve been doing something successfully for a long time, your natural instinct is to push back against new workflows with the question, ‘why should I change what I’m doing? If it ain’t broke, don’t fix it.’
The second major reason is a similar human characteristic. People don’t like being told that they have to do something a certain way. Most people who are hired to do jobs prefer to be onboarded and then left to their own devices to get the work done.
Nearly 70% of professional workers have considered leaving their jobs altogether because of their frustrations with micromanagement. Forced adoption of new workflows is considered by many workers to be an aggressive form of micromanagement that can lead to resignations.
Tips to break down resistance to automated technology
Let’s look at two possible scenarios when addressing this objective. The first scenario will present the objective from the point of view of a named partner at a law firm. The second scenario will present the objective from the point of view of a paralegal at a law firm.
How named partners introduce automated legal technology to their firms
As a named partner at a law firm, it’s your job to ensure that business continues to grow. Your concern is acquiring new clients and servicing existing clients to the best of your firm’s ability. All these priorities are part of a broad effort to increase Legal Recurring Revenue for the firm.
Automated technology is designed to help your team of legal talent operate more efficiently. Solutions like entity management software streamline how your team completes routine clerical and administrative tasks. Streamlined workflows allow all legal talent to dedicate more time to servicing clients, increasing billable hours for the firm.
Therefore, as a named partner, you want your team to reap the benefits of entity management software. You can introduce a mandate for the whole firm to onboard onto the platform, or you can host a firm town hall to introduce the software and address any questions skeptical peers may have. Your position gives you the authority and influence to make this transition happen.
How paralegals introduce automated legal technology to their firms
As a paralegal, you’ll be the primary user of legal technology like entity management software. You have much less authority and influence than a named partner in the firm. Therefore, you’re faced with the much grander task of convincing the partners to purchase the software.
To complete your objective, make the case similar to presenting a legal argument in court. Conduct your research and lay out the facts to the chief decision makers at the firm. Reference statistics showing that most legal professionals devote fewer than three hours of their days to client billable hours because of the abundance of clerical work to complete.
Entity management software and similar automated legal technology drastically reduce the time spent on repetitive clerical tasks. Show the partners that a small investment in such a solution will pay itself back in more time that can be spent growing Legal Recurring Revenue for the firm.
How to overcome resistance to automated legal technology
Regardless of your title and level of authority, there will be challenges convincing your entire legal team to adopt automated legal technology. So what’s the best way to overcome that resistance and break through the barriers?
Sticking with the theme of dual approaches, there are two great ways to overcome internal resistance to legal technology. The first is to be as open, transparent, and inclusive about the new workflows.
Suggest the possibility of acquiring a new piece of software in a firm-wide memo, email thread, or slack channel (if you use slack at your firm). Open a forum for a robust discussion about the pros and cons of acquiring new legal technology so that you can address people’s concerns. This has proven to be a very effective method to break down resistance to new solutions.
The second approach is to encourage your legal talent to review testimonials from fellow legal professionals in other firms or corporate settings. Gain an outside perspective on how automated legal technology like entity management software changed the lives of the professionals in those other settings.
If it worked for them, it can work just as well for you. Take that feedback into consideration, and you may become very excited to change your approach to legal entity management with a more modern innovative solution.
Interested in learning more about the automated benefits of legal entity management technology? Wait no longer and join the MinuteBox revolution to transform your workflows into more efficient and more productive processes.
Some industries are ripe for modern technology, while others are slow to adapt to innovative solutions. Broadly speaking, the healthcare sector, hospitality sector, construction industry, and agriculture industry are some of the largest sectors of the economy with the lowest adoption rates of modern technology.
You could argue that the legal community, while not quite as rudimentary as some of those other sectors, also has a general case of technophobia. Law firms have relied on traditional workflows involving pen and paper or Microsoft Office files to manage client information. To this day, many firms still adhere to the old ways, potentially placing themselves at a competitive disadvantage.
It begs the question: what lies at the root of these technophobic fears, and how can they be overcome? What do legal professionals need to understand about how technology can simplify their lives so that it increases adoption rates? Let’s look into that and outline answers to those pressing questions.
Legal teams understand that legal technology is a growing trend
According to the Wolters Kluwer Future Ready Lawyer Survey, which was disseminated to 751 professionals across North America and Europe, the top three trends cited by respondents are:
- Growing importance of legal technology in legal workflows
- Managing increasingly complex information
- Adapting to new or evolving client needs
The findings show that 79% of survey participants cited these three key areas as the biggest trends impacting the legal industry. At the same time, only 36% of respondents believe their firm or organization is prepared to address these growing trends.
Growing client demand for tech-powered firms
In the same study, participants were asked how they evaluate a potential partnering firm’s use of legal technology, and what impact that has on their decision to enter into business with the firm.
- In 2022, up to 70% of respondents said that how a prospective firm uses legal technology influences whether they enter into a working relationship with that firm.
- The response rate is up from 41% in 2020 and 52% in 2021.
- By 2025, client interest in legal technology is expected to reach 97%.
This particular finding corresponds with other industry studies that show the influence of technology on business operations. Since the COVID-19 pandemic, 77% of business owners admit they want more flexible options to access important files.
These findings should serve as a wake-up call for technophobic law firms. Clients want to work with legal professionals who support their desire for flexible meetings and file access management. Failing to incorporate innovative solutions could result in lost business and missed opportunities to boost Legal Recurring Revenue.
Why are firms reluctant to embrace legal technology
Broadly speaking, companies in most industries struggle to embrace technology out of fear that it will corrupt their use of data. Data lies at the heart of any effective business strategy. However, if that data isn’t clean or organized, it makes it difficult to interpret any insights and feed a business growth strategy.
When looking specifically at the adoption of legal technology, here are the three main reasons law firms are resistant to modern technology.
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Mistaken idea that managing legal technology is very time consuming
In the legal community, time really does equate to money. Legal professionals are always looking for ways to increase billable hours so they can boost inbound Legal Recurring Revenue for the firm. As a consequence, many legal minds are under the misguided belief that every minute not used for billable hours is a sunk cost.
Unfortunately, legal teams that fall into this line of thinking risk leaving their operations less efficient and productive than they otherwise could be with legal technology. The amount of time spent on administrative or clerical tasks remains stubbornly high without an innovative solution to streamline all these laborious tasks.
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Legal technology is costly and deemed too expensive for the budget
This is the biggest reason why firms refuse to adopt modern legal technology. Without a tangible economic benefit from investing in legal technology, firms don’t see the value in carving out portions of their budget for such investments.
When legal teams fall into this line of thinking, they forget one of the fundamental rules of any business: the cost of doing business. Any company must invest in certain expenditures to maintain and improve operations. Legal technology is one of those expenditures that pays off in the form of time savings and efficient workflows.
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Concerns that legal technology will slow things down and create lags
Similar to the time efficiency argument, some law firms believe that legal technology will slow down their rate of operations. They worry that there will be lags in productivity, diminishing the firm’s potential for growth.
The counterargument here is that legal technology is designed to introduce efficiencies to established workflows. Rather than slow things down, legal technology actually speeds things up by reducing the time professionals spend on non-revenue generating tasks.
Why entity management software is the secret to overcoming legal technophobia
Having debunked misguided beliefs about legal technology, what is the optimal solution to improve legal workflows and overcome skeptical feelings towards legal technology? The answer is entity management software, which is designed by legal minds for legal minds.
Entity management software is a form of legal technology developed by legal professionals who represent law firms, legal departments, general counsel, and compliance professionals. It simplifies the complex aspects of entity management and streamlines operations into a workflow that’s efficient, relatable, and even fun.
Entity management software enables legal teams to create one centralized location for all client minute book records. The process of inputting, filing, sorting, and tagging minute book data is complete in a matter of minutes. This is in stark contrast to the time consuming administrative tasks conducted outside of an entity management system. Investing in entity management solutions will help your legal team, particularly your paralegals avoid feelings of burnout.
Teams that use entity management software save invaluable hours on clerical duties that can be reallocated to growing the interests of the firm. It also helps with talent acquisition, as many rising legal professionals understand the value of entity management technology. Use your firm’s adoption of entity management systems in your HR strategy. This will encourage the brightest legal minds to join your team and increase Legal Recurring Revenue for your firm.
