We recently came across an interesting study conducted by ALPMA and GlobalX that we thought worth sharing. The study surveyed 243 law firms across Australia and New Zealand about how ready they are for the future.
The results revealed some interesting statistics and trends that prove that although the law industry is often seen as rigid and traditional, in Australia and New Zealand, our legal horizon is dynamic, agile and constantly evolving. We’ve listed three of these metrics below:
9 in 10 firms are set to increase spend in new technology, with 64% of firms being ‘open’ to new technology
This is extremely pleasing for the legal industry as a whole, demonstrating that law practices understand the importance of keeping up with the latest technological advancements to aid future firm success.
3 in 4 firms have seen increased productivity due to new technology
78% of respondents surveyed stated that their use of technology in the last two years had improved their productivity. We particularly love this statistic! LawMaster has been specifically designed to enhance the productivity of law firms, and has been independently proven to do so by at least 30%.
1 in 2 firms will adopt Electronic Signing technology in the next year
Of the firms that expressed interest in implementing new technology in the next five years, 56% are planning on adopting e-signing technology. LawMaster has been aware of this specific need for some time. Our integration with Infotrack SignIT allows for intelligent signing of electronic documents. Now available in the Sweden Release, this feature dramatically streamlines the traditional signing cycle.
ALPMA and GlobalX’s survey paints an interesting picture of the legal landscape in Australia and New Zealand, particularly firms’ innovative approach to technology and firm productivity.
If you’d like to know more about LawMaster’s e-signing functionality, or how our technology can enhance your firm’s productivity and performance, contact us.