3 Technology Tools to Build a Virtual Law Firm
“Lawyers who described their practice as virtual were asked about the defining characteristic of their virtual practice. Fifty-eight percent answered “lack of traditional physical office,” followed by “minimal in-person contact with clients” (52%) and “use of web-based tools for client interaction” (46%).” - ABA Journal Law News 2013
As the landscape surrounding legal services continues to evolve, lawyers are turning increasingly to virtual law firms to remain competitive, control costs and elevate their level of service to clients.
Whether starting their own practice, competing with unbundled legal services, or growing an established firm based on cash flow, lawyers have found that virtualizing their practices can lead to several perceptible benefits, including:
• Improved Productivity/Efficiency
• Increased Flexibility
• Cost-Efficacy
While the logistics of operating a virtual law firm are generally less complex than those of a physical practice, operating virtually comes with its own idiosyncrasies. Contrary to a traditional “bricks and mortar” law office where up-front capital outlays are poured into fixed costs like commercial office space and full-time administrative overhead, a virtual law firm revolves around technology tools and processes designed to minimize risk and fixed expenses.
From an operational context, technological solutions can support, augment or reform the following key areas for a virtual law firm:
1.) Client Communication
2.) Document Management
3.) Practice Management
In successfully deploying a virtual law firm, solos and small firms stand to overcome many of the obstacles that prevent them from competing with larger firms and commoditized legal service providers. Moreover, the virtual law firm model gives lawyers the ability to control all aspects of their practice, without sacrificing their bandwidth to focus on client matters.
Underlying the success of any virtual law firm is the effective use of technology.
The following ebook from Clio, a cloud based practice management application, further describes how technology is evolving and enhancing the core business aspects of a virtual law firm. Read More
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