Digital Transformation is Here - 8 Tips on Getting Budget for Your Department
Chances are your business has transitioned away from paper archives, and you’re now using Cloud technologies to host the data and software you use. Many of us had to transition to the Cloud very quickly when the pandemic struck, so that we could continue to deliver services from home.
Since then, legal firms like yours have now shifted your purchasing decisions and according to PE Hub, it has caught the attention of Private Equity firms. These powerful organisations are notorious for their search in finding the next best investment opportunity… and their interest in technology for the legal sector reflects a refreshed appetite for digital transformation within the industry.
Enhancements in AI have also led legal firms to further ponder their tech architecture, where they need to invest and how they can keep ahead of industry changes.
Many firms now have a strategic tech implementation plan in place or (at the very least) have an idea of what they would like to put in place. But the roll-out remains slow, with budgets and stakeholder buy-in as common reasons as to why.
In this blog, we’ll explore how you can convince the partners in your firm to invest in new technology. Helping you make a strong case for why it’s necessary for the future of your firm.
- Do your research. Before you approach the partners, make sure you have a good understanding of the technology you are proposing and how it can benefit the firm. Be able to quantify the benefits, such as increased efficiency, reduced costs, and improved client service.
- Do the math. If you can find out how much time software can save you, work out how this would affect your billable hours. It could be that the software helps your organisation make more money in the long-term.
- Create a plan. Building a timeline for implementation and training the team will help show your partners that you’ve thought about the short-term effect it might have on the team’s productivity.
- Keeping up with competitors. Point out other legal firms that are using the technology, you can often find these as case studies or testimonials on the technology providers website.
- Identify the pain points. What are the challenges that the firm is currently facing? How can new technology help to address these challenges?
- Get buy-in from your colleagues. If possible, get buy-in from other lawyers in your firm who are interested in using the new technology. This will help to show the partners that there is a demand for the technology.
- Focus on the benefits to the client. Partners might be more likely to invest in new technology if they can see how it would improve customer service. For example, you could explain how the new technology will help to improve communication with clients or reduce turnaround time.
- Find a supportive tech partner. Customer service is sometimes just as important as the technology’s capability. Without a supportive partner, you may struggle to get your team the support it needs to make the implementation a success. Highlight the partners buy-in and services to your partner.
If the partners at your firm are still hesitant despite your best efforts, offer to start small. Many technology providers offer different levels of service and short minimum term contracts. Position it as a pilot project, which will give your firm and your team the change to see how it would work before making any large commitments.
Getting stakeholder buy-in can be tricky too, but understanding their pain points and concerns will be key to a successful roll out. Focus on how the technology will benefit them, find out what tasks they hate and explain which ones can be outsourced to the new system.
Keep them engaged early on and communicate frequently on progress. Have key users that can support team members when they get stuck and celebrate success. Consider a competition, the first team member to draft the first 5 documents using the new system gets a prize for example.
At Arken Legal, we deliver technology that helps your organisation succeed, whilst simultaneously making your working life easier.
For more information about our products, explore our website.