It is almost inconceivable that, with all the technologies available in law firms today, there are still old practices limiting opportunities for growth and creating untenable profit margins. Why is this the case?

 

Law firms have come a long way over the last 15 years, purchasing and implementing technologies like other industries. Large investments have been made, many years of data have been migrated, systems have been installed and configured fit for purpose, and education programs have been delivered.

 

However, process transformation and reporting are often compromised as part of the investment, with much lacking digitisation, automation, integration, and mobility, posing a cost burden on the business. Human capital is underutilised due to continued inefficiencies undervaluing talented professionals. Slow and expensive service delivery prompts clients to reassess the value of their service provider.

 

Simple examples we continue to observe include:

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• Manually produced reports to provide an update on the matter status to the client, sometimes taking one week to prepare and distribute to the client

• Bill payments from clients are unnecessarily being paid into the trust account instead of the office account, creating cash flow delays and concerns for shareholders

• Client’s invoices printed, signed and mailed to clients, with vast amounts of time taken to edit such invoices to achieve commitments leading up to the printing of the invoices

• Forms to make a payment or transfer request are completed independently of the practice management system, printed, signed, scanned, and emailed to the Finance team to then be manually entered into the practice management system

• Edits to time entered in the practice management system by a lawyer or the lawyer’s secretary, and then the Finance team communicates with them via email to make changes to such time

• Finance checks every supplier invoice, notwithstanding that the Partner responsible has reviewed and approved the transaction for processing and payment

• Lawyers unable to access documents or processes for approval from their mobile phone to keep the wheels turning

• Mundane tasks are performed by expensive human resources when systems automation is the answer.

 

With our ever-changing world, the need to modernise your operations continues to be paramount.

 

Well-designed business processes, including integration and mobilisation, consign such legacies to becoming relics from a bygone era and allow human capital to be utilised far more effectively.

 

Learn how we can help challenge your old practices and achieve substantial cost savings. We’re not just focused on getting you to where you need to be – we’re people helping people.

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Amanda Harriss, Partner, Harriss Wagner Consultants and Advisers

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