By Legal Futures Associate Lawtech Software Group
There are many different options when it comes to legal technology, from case management and matter management to ID and address verification; but most options, no matter how shiny and tempting they come with a lot of questions.
Below we’re going to go through some of the most crucial factors that need to be considered and why they’re important:
Compatibility with your current systems
Does the software work in sync with your other systems? It’s important to remember that although you might be purchasing a piece of software, you won’t be replacing it all, therefore, whatever technology you choose, needs to work hand-in-hand with the rest of your systems through integrations. The software provider should ask you what systems you use and make it clear if their technology works, or doesn’t work, well with your current systems.
Automation and time saving
Does the Legaltech you’re looking at have automations? Or is it shiny software that still requires a lot of manual effort? Either way, your time is precious and any software you take onboard needs to be a help, not a hinderance. For example, with our Client Onboarding, AML and compliance Platform, Verify 365, unlike other platforms, address verification is automatic, saving firms time and effort!
Scalability
Can the software scale alongside your growing business? The growth of your business is the ultimate goal, right? So why onboard software that keeps you behind the times? Legaltech can so well support increased workload, if you pick the right one! There are 2 main points to bear in mind:
- Can you add multiple users to the platform?
- If you scale and need to add more users, will it cost, and if so, how much?
User-friendliness
How easy is the software to use internally? If you’re searching for Legaltech, you probably understand technology, but it’s crucial to remember that your staff may not. Of course, it goes without saying that you need to pick software that does the job, but if your staff find it impossible to use, it won’t get the chance to shine!
At Lawtech Software Group, we’ve worked incredibly hard to ensure that all our software is user-friendly for all clients, allowing them to make the most out of every single feature!
End-user accessibility
Can your own clients easily access and use the platform? If you’re looking to onboard any client-facing software, it must be simple! For example, for Verify 365, we have a range of end users, from young first-time buyers needing to complete checks for their house purchase to elder people needs to complete checks to submit a legal case. Either way, end users can easily navigate the platform and we continually upgrade the user interface week after week.
Onboarding and training
Will you get support and onboard training? It’s surprising how many Legaltech companies don’t offer initial platform onboarding training to firms. This links to one of the points above, why have intelligent software if your staff can’t use it? Onboarding training is crucial so it’s important that whatever software you choose comes with training as standard.
Account management
Does the software company offer a dedicated account manager? It might seem like something you can skip, not such a crucial point, but it’s necessary. At Lawtech, we have a dedicated account manager, who spends time with clients that use Verify 365, offering training and support while letting them know lines of communication are always open when they have even the smallest of queries. This allows firms to enhance their use of the platform without the need to stress.
Regulated technology and security
Can you be certain that the Legaltech meets regulatory requirements? There’s a lot of choice on the market, some cheaper than others and as cost is a factor we can’t ignore, the fact that the tech is secure and regulated is much more important. For example, Verify 365 was the first platform to be Safe Harbour Compliant, we pride ourselves on this and it’s one of the biggest reasons clients choose Verify 365 over other client onboarding platforms.
Cost and ROI
Ultimately, the cost of implementing new technology into your law firm must be right. The cost must reflect the capacity limit your firm can reach in terms of clients and checks for a return on investment. Technology is revolutionising the legal sector and with competition fierce, picking the right one for your firm is essential.
Verify 365 offers three different levels depending on the number of checks your firm completes. Our plans ensure it is cost effective for your firm but crucially, investment worthy ticking off several boxes including compliance.
The technological revolution within the legal sector
Legal technology is here to stay, and it’s only going to grow and innovate further. The market is strong with many products to deal with many challenges law firms face daily. There are many things to consider when investing in technology. of the innovative legaltech products changing the landscape and crucially, making a significant impact within law firms across the UK and beyond. There is plenty to consider but the rise in legaltech shows no sign of stopping.
