Sometimes it’s good to romanticize the past—there’s nothing like lying on the couch, listening to your favorite record; or holding a paperback in your hands while lounging on the beach; or searching through hundreds of Bankers Boxers just to find that one medical record…ok, maybe not that last one. See when it comes to leisure time activities, the past is great—but when it comes to your business, the only past you should be concerned with is racing past your competition.
Legal tech has evolved exponentially in recent years—tech from 3 years ago is outdated…tech from 10 belongs in a museum; which is where your firm will wind up if you don’t keep pace.
To illustrate our point, here are a few ways that using antiquated tech to run your PI practice is running your firm into the ground:
Old tech prevents collaboration…The practice of law has changed—it’s no longer about who’s doing what, but rather about what’s getting done. Unfortunately, older solutions don’t allow for collaboration, because they make it nearly impossible to keep everyone on the same page (especially now that a large portion of your work occurs outside the confines of an office).
Think of all the time you’ve wasted uploading files, emailing updates, and coming in on the weekend to do work that’s already been handled. The right tech should give your team members access to your matters from anywhere (complete with real-time updates and easy task delegation) so you can get stuff done, not get stuff done twice.
Old tech slows you down…Since the beginning of time, the purpose of technology is to make things easier for you—i.e., faster, better, and with less effort; however, older tech can often have the opposite effect on your efficiency (e.g. slow software, buggy apps, and troubled integration with other productivity tools).
Your PI firm should use tech that doesn’t require work from you just to make it work—modern tech updates while you sleep and is easily integrated with your favorite apps so you can focus on completing tasks, instead of completing software updates.
Old tech makes it difficult to know how you’re doing…Older legal tech usually focuses on flashy stats like claimed amounts or (for non-PI firms) billable hours—while ignoring more reliable measures of success like key performance indicators (“KPIs”) that zero in on efficiency (e.g., closed matters per month, stalled matters, client acquisition cost). Your tech should give you access to analytics like KPIs so you can really get under the hood of your PI firm and see what’s working and what’s not.
Old tech puts you at risk…Missing deadlines can lead to very real and very expensive consequences with serious (and often irreversible) effects on your firm’s reputation, goodwill, and bottom line—and using older tech is a surefire way to make sure missed deadlines happen. That’s because, with older software, there isn’t a standardized workflow to ensure all case-related calendar events are captured and assigned to the appropriate team members.
In contrast, with newer platforms, all your calendar info resides within a single location that’s easily accessible to any authorized team members, so there are always extra sets of eyes…and automated reminders and workflows to keep you on track even when those eyes are shut.
Old tech is expensive…Given the payment structure of PI attorneys, cash flow is always a major concern—which makes older tech a PI attorney’s worst nightmare. That’s because older tech often requires a significant investment of time and money in servers, space, staff training, licensing, upgrades, 24/7 IT support, and more.
Modern tech, on the other hand, carries about the same degree of commitment as any modern day streaming service (low monthly subscriptions, no long-term maintenance fees…all you need is a laptop and internet) so you can scale up or down without stopping at the bank first.
One thing that you could take to the bank though is that CloudLex—the Next-Gen Legal Cloud®️—will take your PI firm from the Stone Age to the golden age in an instant. CloudLex’s comprehensive set of innovative apps are designed specifically for the modern PI firm…so don’t let time pass you by—sign up for a free demo now and let us help you build, manage, and grow your practice for years to come.