How law firms are reinventing themselves during the current COVID-19 crisis
The pandemic has clearly altered the way people across the globe live, work, and do business. No industry has been spared and every effort is now being made to steer us to the ‘new normal’.
COVID-19 has demanded businesses transform themselves and adapt to the changing times if they are to survive. Take for instance the legal industry - a law firm with 1,500 employees would have been operating out of multiple offices back at the start of the year. However, now the same law firm will have each of the 1,500 employees working remotely, all delivering legal services, without much change in the quality of the service delivered.
This is not to say that the law firms are not facing any challenges. Many operate with small capital reserves, set against high capital costs and expenditure, and most law firms have had to take hard cost-cutting measures, in order to survive.
With the need to adapt quickly we are seeing a significant change of pace from business development teams in many law firms who have seized the opportunity to think and design innovatively - reappraising their systems, processes, and offerings to ensure they are able to flex and futureproof their businesses. Call this digital transformation, cost optimization, or a bit of both; law firms are reshaping their digital landscapes to make their legal functions more agile and are gaining a huge competitive-edge.
If this excites you, please get in touch to understand how we are setting law firm’s free to focus on what is important to them - enhancing their client services and achieving strategic advantage and growth. Start the conversation here.