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12 October 2017 at 13:04 BST

Law firms ignore business fundamentals in favour of innovation

Innovation has taken over as the 'must-have' for many law firms whilst many are still failing to communicate with clients.

TierneyMJ

Many law firms are more concerned with legal innovation than actually communicating with clients or trying to understand their needs. And, say consultants, they are ignoring business fundamentals and focusing instead on the latest technology 'must-haves.'  According to the latest GC Excellence Report, 37 per cent of general counsel disagree that law firms are spending time trying to understand their needs. Nearly one in three (30 per cent) say communications with their law firms has not improved. This is despite law firms all seeking to find new ways of working with clients. The research also says that law firms are still not using technology to improve the way they deliver legal services, despite the legaltech aspirations of many law firms which are investing in new systems to improve efficiencies. The research was compiled by the Global Legal Post in association with Terralex and will be discussed at the Law Firm Marketing Summit in London on 7 November. 

Aspirational

Commenting on the legaltech race, consultant Justin North of Janders Dean, who will be speaking at the event, said that the law firm model needed to be fixed and that much of the legaltech verged on aspirational rather than providing solutions to help them grow their business. For further information on the event, contact benmartin@globalcitymedia.com.

 
   
 
 
 

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