How the use of legal tech has had an impact in law firms and in-house worldwide 2020

As of a survey carried out in March 2020, of the 490 law firm practitioners questioned, 84 percent said that the use of legal technology had increased efficiency in their organization, whilst 77 percent claimed that legal tech was in the process of being increased at the company.

Global legal tech market

The global legal tech market is set to undergo sizeable growth in the coming years, with an array of technological tools available to firms to transform and improve the way legal services are delivered. An influx of law graduates who have grown up with technology, along with a healthy supply of tech aficionados who have identified the opportunities available in the legal services market, has allowed for greater awareness of tech-related solutions in an industry that is often considered to be more conservative and traditional.

Law firms must look for ways to save money

Law firms across the world are now continuously being forced to consider ways of reducing their costs. In such a competitive landscape, identifying methods of setting yourself apart from the competition, as well as reducing overheads, can be a difficult challenge. The introduction of legal tech solutions is one such way that a firm can save time and streamline work processes. In doing so, a law firm can improve the working environment for its employees, who in turn will be able to become more efficient and deliver a better service to the client.