In today’s fast-paced legal landscape, private client solicitors are turning to technology to enhance their profitability and streamline their practices. Here’s how: 

1. Employing Junior Drafters and Supporting Them with Technology 

These professionals, often at the beginning of their careers, can now rely on sophisticated software to guide them through complex drafting processes. Advanced drafting tools like Arken Professional, offer real-time suggestions and automated checks, ensuring that the documents they produce are both accurate and comprehensive. This not only boosts the confidence of junior drafters, but it also improves their work environment and enhances the quality of their output.  

2. Standardising Clauses and Streamlining Processes 

The introduction of a standardised precedent bank and uniform processes for everyone to follow are two huge benefits from investing in technology. Consistency across documents and how they are built reduces the likelihood of errors. By using pre-approved clauses and following a set process, solicitors can ensure that all necessary legal bases are covered with less room for interpretation due to an individual’s wording or understanding of the law. This standardisation significantly speeds up the Will creation process, allowing solicitors to handle more clients and cases with the same cost base. 

3. Increased Efficiency and Reduced Workloads 

Perhaps the most significant impact from technology for estate planning professionals is the dramatic increase in efficiency and reduction in repetitive tasks. Will writing software, like Arken Professional removes routine administrative tasks and the need to re-key in data to multiple documents. This means that professional advisors can dedicate more time to client-facing activities and strategic thinking, rather than getting bogged down by administrative duties, leading to better productivity.

4. Return on Investment 

On average, our small to medium-sized Solicitors produce roughly 50 Wills per month and an average paralegal’s salary is roughly £25k per annum. Using this information, we can work out that our Will writing software, Arken Professional, can save our clients up to 26 hours per month, which equates to 3.25 working days per month – that’s 39 working days per year, nearly 2 whole working months.

Try out our return-on-investment calculator with your own figures, to see how much time your firm could save.

How Would You Use Technology to Boost Profitability? 

More and more private client practices are investing in technology to help them push costs down and boost profitability. They are choosing the best-of-breed products available in the market and are then integrating/connecting them to achieve harmonious data flows and holistic reports. This creates a solid base of technology which companies can use to scale, drive efficiencies, reduce operational costs, delight clients and ultimately – increase profits.  

For more information about how technology can support your private client practice, contact us, or review our product suite available via our website.