What is a Legal Tech Platform?
Clients expect their lawyers to provide modern, personalized, and efficient representation. In turn, lawyers can use legal tech to automate routine tasks, work more efficiently, and devote more time to complex work. But it must be the right legal tech.
The legal industry contains numerous tech solutions that address a single aspect of legal practice, e.g., document management, timekeeping, or billing. Although these systems can help firms resolve specific issues, they generate detached workflows. Rather than a collection of disparate tools, a legal tech platform consolidates, manages, and automates various legal processes in a single location, increasing efficiency and making time for higher-value work.
What is legal tech?
Short for legal technology, legal tech is computer software that provides numerous tools to streamline, automate, and enhance various tasks traditionally performed manually, such as:
- Document management. Legal document automation software systems enable legal teams to merge data to turn template documents into automated workflows.
- Client intake. Automated legal client intake allows firms to establish a clear and concise process that saves time, eliminates errors, and keeps everyone on the same page.
- Appointment scheduling. Current and potential clients can book an appointment with legal calendaring software.
- Case management. Web-based case management systems help law firms organize information and data related to cases.
- Time tracking and billing. Whether a firm bills hourly, fixed-fee, or on contingency, time and billing software offers an easy way to record billable hours and increase revenue.
- Text messaging. Legal tech platforms allow law firms to text their clients directly to generate leads and improve communication.
- Legal CRM. Attorney-client relationship management software helps firms drive efficiency, attract prospects, increase client engagement, and accelerate growth.
- Marketing automation. Legal marketing automation software helps firms seize every new client opportunity with targeted messaging and perfect timing.
- Data analytics. Legal data analytics allows firms to use data to identify bottlenecks, make smarter decisions, and scale the practice from the inside out.
The legal tech landscape is continually evolving with new tools and innovations, and which tools to choose varies depending on the specific needs of a law firm or legal department.
How big is the legal tech industry?
With no signs of slowing down, the global legal technology market size was valued at $23.45 billion in 2022 and is estimated to reach $45.73 billion by 2030, according to a recent Grand View Research report.
Law firms and legal departments face the unrelenting pressure of escalating workloads and must operate more efficiently with fewer resources. In response, legal technology budgets are poised to triple by 2025, according to Gartner.
What is a legal tech platform?
A legal tech platform is a digital or web-based system that offers a variety of legal technology tools and solutions to advance the practice of law and the delivery of legal services. These platforms streamline, automate, and enhance various aspects of the legal profession.
Legal tech platforms typically provide a range of tools and services integrated into a single platform for convenience. These platforms prioritize data security and compliance with legal and ethical standards to protect sensitive client information. Many are cloud-based, allowing users to access their tools and data from anywhere with an internet connection.
What are legal tech platform examples?
Some examples of popular legal tech tools include:
- Clio: A cloud-based practice management platform that focuses on time tracking, billing, document management, and client communication.
- Smokeball: A case-management platform that offers an industry-leading document automation library of more than 17,000 legal forms.
- Kenect: A text messaging platform that allows law firms to text clients directly to help convert leads, enhance communication, generate reviews, and collect payments.
- Lawmatics: A legal tech platform with features for contact management, intake automation, email marketing, source tracking, analytics, and more.
These legal tech platforms are designed to integrate with existing software and systems, making adopting new technology without significant disruption easier.
What is the best legal tech software?
Lawmatics is widely considered the #1 automation platform for law firms. It offers best-in-class tools for client intake, workflow and marketing automation, legal billing, document management, and much more — all in one easy-to-use platform. Lawmatics also seamlessly integrates with many popular legal tech applications, allowing firms to create a solid tech stack and grow their businesses.
Access all the benefits of legal technology with Lawmatics: increased efficiency, an enhanced client experience, greater compliance, and improved data security. Are you ready to grow your firm with Lawmatics? Sign up for a product demo today.