The legal industry has experienced significant changes due to the growing importance of technology. Modern technology has made business faster and more efficient. However, many law firms have not adapted and evolved with the times. Follow these tips to improve law firm efficiency and increase profitability.
Improve Time Management
Improving time management is beneficial for every business in the world, especially law firms. Implement time tracking to see which tasks take the longest and how they can be improved. You can improve your time management by automating tasks like correspondence – case management programs like OnPoint.Legal by Symbioshare will allow you to merge documents and maintain templates with correct contact information so the time spent on correspondence is significantly reduced.
Outsourcing can be a lifesaver, especially if you’re a smaller firm without the resources to employ in-house marketing, IT, HR, and accounting. Not only will it free up far more of your time for the actual practice of law and billable hours, you’ll benefit from specialists in each of those areas providing you with a high level of expertise.
Ditch the Paper
Law firms have been among the slowest to embrace the paperless style of doing business, largely due to the fear of database crashes and the potential of losing everything. But, with modern, multi-location backups, this is a virtual impossibility. Paper requires time and effort to sift through, as well as significant space to store it. Case management software can securely store all your files and allow you to access them at any time.
Embrace Modern Marketing
While billboards, park benches, and television commercials are still valuable, if these are the only forms of marketing or advertising you’re utilizing, you’re way behind. Use Google Ads so you can be easily found when potential clients are searching for services you offer. Advertise on social media channels like Facebook or LinkedIn to build a following and help people find you.
Better law firm efficiency leads to better profitability. In order to become a more efficient law firm, it’s important to take advantage of modern technology, not only to keep up with your competitors, but to improve the way your firm runs.