Technology is at the Center of Top Performance
The disruption caused by the 2020 global pandemic will have a far-reaching impact across the legal industry, accelerating the sector’s ongoing transformation. Before the crisis, the legal sector was already undergoing a transformation driven by economic, demographic, regulatory, technology and competitive demands. Those forces will continue to drive change in the industry, with their impact now amplified by the COVID-19 crisis.
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The crisis has shown that legal technology solutions, which enable work at anytime from anywhere, are essential to business continuity today. As the legal industry moves forward, however, the focus will also be on the key capabilities that will ensure that organizations not only survive through change, but also thrive in the new legal landscape.
Wolters Kluwer conducted an independent survey – the 2020 Wolters Kluwer Future Ready Lawyer Survey: Performance Drivers – to assess future readiness and resilience in the legal sector. The survey includes insights from 700 legal professionals across the U.S. and nine European countries and examines ongoing trends in the legal sector and how well-prepared organizations are to drive higher performance.
“Given the pressures created by the crisis, there will be a spotlight on legal professionals’ performance moving ahead, with the need to increase productivity while delivering the highest value and ROI to their customers,” said Martin O’Malley, Wolters Kluwer Legal & Regulatory Executive Vice President and Managing Director.
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With a focus on the attributes that drive performance in legal organizations, the survey found that legal professionals see technology as the top performance driver and critical to improved relationships, performance and productivity. In fact, the Increasing Importance of Legal Technology is the top trend for 76% of respondents – across Europe and the U.S., and across law firms, corporate legal departments and business services firms. The survey also found performance blockers, however, and revealed a number of gaps in understanding, expectations, experience and capabilities – within, as well as between, law firms and corporate legal departments – that inhibit top performance.
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