Parley Pro Shares the Insights with Legal 500
Parley Pro has recently shared observations with Legal 500 about trends of modernization within the legal field. There’s a lot to discuss, but here are the top three takeaways.
The In-House Departments are Leading Digitization in Law
Today, legal departments are increasingly asked to do more with less. To do so, many have leveraged the potential of certain twenty-first-century tools to get those results. So, it’s not surprising that the adoption of tools and innovation has been led predominantly by in-house lawyers. The pressures in-house are higher than anywhere else.
We know when we work with our in-house clients that they have already adopted newer, more sophisticated tools to improve their ability to make smarter decisions and work better and more efficiently. They already know first-hand how technology improves the personal and professional lives of them and their colleagues in other departments, and they are increasingly open to new ways it can help them in the legal department. We also have a new generation of lawyers who cannot imagine practicing law without technology, because they have grown up doing everything with technology. Combined with the pressures of businesses, this increasingly leads to open-mindedness to new technology, even if they are still cautious.
Many Law Firms are Modernizing as Well
It is hard to talk about law firms as if they are the same. With the introduction of any new technology or change, there will be professionals who are excited by it and others who decide to wait and see. There will also be many who are critical. Some law firms see this as an opportunity to get ahead, while others are more cautious in following market trends.
Growing Consensus: Legal Needs Better Tools
Overall, there is a growing consensus that we need better tools. Frankly, when your clients from in-house are exploring new technologies, it is only a matter of time until you must do the same. Lawyers are increasingly open-minded. As they should be! The world has integrated technology into every aspect of our lives and, in turn, our daily lives have improved through numerous online services and technologies. It is just a fact of life.
Lawyers have a reputation for being resistant to change, but in this case, follow the lawyers. Technology is here for good and for your use – use it.
About Parley Pro
Parley Pro helps businesses get more from their contracts by transforming them into strategic, digital assets — giving them the tools to create, negotiate, manage, automate, and optimize contracts to streamline business objectives, maximize revenue and reduce risk.