More and more law firms are embracing technology as a means to improve client experience, according to BTI Consulting. A survey of corporate counsel conducted by the research firm found “9% more law firms using technology as a source of innovation in 2015.”
The statistic is just one slice of data from a larger study – the BTI Brand Elite 2015 – which also found 39% of law firms are “strengthening their brand with client and winning more work” while 49% are “losing their positioning in clients’ eyes.” The survey is a result of 648 telephone interviews conducted over two years, according to an executive summary.
According to BTI, “the law firms climbing the tech savvy ranks” are:
– Best of the Best: Orrick, Herrington & Sutcliffe
– Leaders: Baker & McKenzie, DLA Piper, Foley & Lardner, Freshfields Bruckhaus Deringer, Greenberg Traurig, Jones Day, Latham & Watkins, Morgan Lewis, Sidley Austin, Sullivan & Cromwell.
While the survey found that 9% increase, such innovation is relatively light overall among law firms allowing those that embrace the technology to stand out in client perception, according to Legaltech News. Editor-in-chief Erin E. Harrison reported:
These firms, among others on the list, are using work process automation, customized portals, push technology and tools in client facing roles, according to Michael Rynowecer, president of BTI Consulting Group.
What is Law without Technology?
“You can’t practice law without technology,” according to an interview we conducted with Monica Bay, who recently stepped down after 17 years as editor-in-chief at Law Technology News. She explicitly cited Orrick, Herrington & Sutcliffe noting:
“These are the folks figuring out how to get to better, faster, cheaper, transparent done – that’s what clients are demanding.”
Technology almost assuredly is playing a key role and it extends to the firm’s marketing efforts. The firm presented a session on big law digital strategy earlier this year at the LegalTech New York 2015 conference.
There’s other anecdotal evidence outside this survey that technology is indeed becoming a competitive advantage. The 2014 ILTA Conference cited Bryan Cave, Seyfarth Shaw, and Little Mendelson as notable examples of big law IT innovation during their awards program.
If any of these law firms are listening, we’d very much like to hear from you and consider a post to share your ideas and projects with the legal tech community. Hit us up at BLSSsocial@lexisnexis.com or on Twitter @Business_of_Law.
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