The consulting firm, ARBENTIA, highlights the need for law firms to advance in their digital transformation through some specific keys, in order to improve their efficiency and work experience in their organizations.
Law firms are one of the most important sectors of the European legal market, billing, according to the 2020 pre-pandemic report of “The Spanish Lawyers in Figures”, a total of 14,830 million euros. This sector is currently facing great challenges, among which are growing competition, the burning fight to retain talent and constant pressure on prices.
“Law firms require one at a time greater organizational capacity and optimization of resources and processes, that allow them to continue being efficient in their management, while ensuring rigorous legal and economic control”, says Iago Oro, director of the ARBENTIA project management area. “For this, the organizations of the sector need to advance in their effective digital transformation, based on the latest management technologies”.
Law firms need to rely on a management system capable of providing partners and lawyers with the flexibility, mobility and independence they need, and capable of significantly improving the work experience, on a day-to-day basis, in order to retain and motivate talent.
Tools for the digital transformation of offices
A rapid digital transition that includes developments adapted to the needs of the sector is the basis for facing the most immediate demands and to anticipate those that may arise in the medium and short term. Today, there are advanced solutions that provide users with a single platform adapted for the management of their operations and access to all their data in real time and from any device, including mobile phones.
These solutions, such as the vertical ARBENTIA Project Management on the platform Microsoft Dynamicsoffer all the advantages of the cloud and are focused on global control of office operations, with specific functionalities for different areas:
- Improve the work experience of partners: They allow the control of the life cycle of a project from the budget to the execution and the invoicing. Its functionalities include the ordering of tasks and events, the organization of active files on demand and the management of associated activities. In addition, they allow access to the file from anywhere, which makes it easier to attend trials or meetings in person. Likewise, they enable the incorporation of voice notes and their transcription, as well as the digitalization of invoices, the creation of digital contact cards and even the introduction of the hours invested in each client and project in real time.
- Act as a link between office operations and accounting, allowing to manage all the invoicing and the distribution of income between the partners related to the corresponding file. They also help to create sales budgets, different types of billing and issue and send invoices to the client automatically.
- Efficient resource management it is also essential and with these tools firms can also advance in the control and analysis of costs and expenses associated with project management.
- Reporting with a global vision adapted to different needs and users. With this type of tools, each user can adapt their dashboard to view the data at the partner, department and file level, among others.
- A boost for profitability management through comprehensive control of the business thanks to the implementation of the analytical, financial and operational chart of each of the individual projects, ensuring that the accounting and analytical result is the same. The budgets are also within the system and in this way they can be compared at any stage of the project with the actual cost.
