Blog post translated from Thomson Reuters’ worldwide legal blog
Teams facing various challenges may find the idea of adopting new technologies intimidating. However, with the increasing demand for remote work due to COVID-19, organizations globally are compelled to embrace more adaptable solutions. Fortunately, advancements in cloud computing and collaboration have made modern updates more accessible, significantly enhancing team efficiency by alleviating common issues. Here are five tangible benefits of cloud-based solutions for remote teams.
Cloud-based systems are simple to update and manage.
Staying current with software updates has long been a major obstacle for law firms and government agencies. But with modern cloud-based solutions, the responsibility for updates and maintenance shifts to the data host, minimizing downtime and potential IT disruptions for your team.
Confidential data is more secure.
Inherited record systems are often stored physically in an agency office or on individual team members’ computers. However, a cloud-based system securely stores files and information on a highly protected server, offering advanced security measures like SSO and VPN to prevent unauthorized access or theft. This enhanced security is crucial for government agencies and law firms handling sensitive data.
Lost or destroyed items can be readily retrieved.
When a fully remote team is in operation, challenges are bound to arise, such as laptop malfunctions, data loss, and limited access to IT support. However, by integrating a cloud-based archiving system, these significant setbacks can be mitigated. The system enables automatic backup of important files and records on cloud servers, ensuring seamless recovery in times of crisis. This setup proves invaluable for remote teams, eliminating concerns over physical damage or loss of data.
Cloud-based systems enable genuine portability, including offline functionality
Implementing a cloud-based storage system enables easy access to information for you and your team from any location with Internet access, eliminating the need for lengthy email exchanges to locate old documents. Data stored on cloud servers can be downloaded for temporary offline use in case of Internet disruptions, ensuring uninterrupted work with prior planning.
Collaborative tools enable your team to collaborate effectively when not physically together.
Using a shared cloud-based system among all users fosters better collaboration among team members and departments. Multiple users can simultaneously access and modify the same file with most cloud-based tools, eliminating the need for distributing multiple copies with various edits. This enables real-time collaboration and minimizes confusion and lost drafts, promoting seamless teamwork.
Thomson Reuters offers top legal solutions that can be seamlessly integrated with cloud computing platforms, providing numerous benefits. Users can access a range of support features to optimize their tools for remote use. Transition to remote work requirements can be made smoother by leveraging a contemporary cloud-based system from Thomson Reuters.
Technology experts enjoy using the term “disruptive” when discussing digital advancements. However, who would want their life to experience a disturbance?
New digital technologies should simplify business operations and daily life. They necessitate quicker delivery of products and services by companies while also enabling more efficient operations.
The legal professions were definitely affected in this way.
Advocacy has traditionally relied on precedents and customs, with lawyers being known for embracing new technologies to increase efficiency and reduce time spent on repetitive tasks. The introduction of computerized legal research in the 1970s was quickly adopted by law firms, and the widespread availability of this tool for personal computers in the early 1980s marked the beginning of a legal technology revolution.
Technology has shifted its focus to practical applications since the burst of the internet bubble twenty years ago. Rapidly emerging digital innovations are demonstrating their value and utility in the market, emphasizing the importance for lawyers to stay updated on technology trends to remain competitive.
Cost and additional value
Being an early adopter of technology is essential not just for the advantages it brings, but also because customers now expect it, with many even demanding it. According to a 2018 survey by Altman Weil, 58% of Legal Executive Directors prioritize cost reduction as the main service they seek from external lawyers.
Law firms must provide quality service at a reduced price.
Competition is using technology to your advantage. Explore alternative legal service providers (ALSPs). ALSPs make up a $10.7 billion market in the US, with an annual growth rate of almost 13%, as stated in the 2020 Legal Executive Institute report.
ALSPs have a competitive advantage over traditional law firms due to their cost-effectiveness, efficient use of technology, and range of services like document review and research support.
Law firms must provide comparable capabilities to stay competitive. Technology is more than just a way to save costs; it enables companies to concentrate on the added value of their expertise. Legal professionals should not waste time on mundane tasks like reviewing legal processes and searching for citations manually when efficient software can do it faster and more accurately.
Having the top technology is essential for successful law firms to maintain operations and retain clients.
We will examine a technology that is currently used in the legal field: artificial intelligence (AI).
Acquire further knowledge
Currently, AI is widely used in various sectors, including legal services, through tools like Thomson Reuters’ Westlaw Edge that incorporate AI features for legal research and analysis.
AI-powered legal tools gather and analyze data to offer businesses and potential clients a deeper insight into legal strategies, enhancing law firms’ productivity by handling tasks like document analysis and citation verification.
AI’s capacity to “learn” is a significant advantage, as increased data collection enhances the accuracy of results and actionable insights, leading to rapid improvements in the quality of outcomes provided by these tools.
AI-based legal tools are expected to become standard practice in the legal profession, with a significant percentage of law firms anticipating their widespread adoption within the next few years, according to a survey by Thomson Reuters.
Cutting-edge technology without compromise
Your workplace doesn’t have to be the earliest to embrace technology. Not all initial innovations are practical or long-lasting; some may come with bugs that need to be fixed. Instead of being an early adopter of every new release, it is advisable to invest in tools that have a proven track record of usefulness and longevity.
Having the latest technology is important for an office’s success, but it cannot replace the human element needed in advocacy. Technology can enhance efficiency in legal work, but it cannot replace the expertise and experience necessary in court cases.
Technology is essential for a law firm to stay competitive and it is important to constantly seek new ways to utilize the latest legal technology.
Law firms that want to control their future must not let AI and other technologies pass them by, as they demonstrate that the future is now.
LEGAL ENTITY
The digital transformation in strategic management and intelligence for legal firms and departments.
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