Tech ‘Leading’ Firms Are Most Profitable

A Wolters Kluwer Survey

Introduction

Globally, the legal sector is poised for significant transformation. Increasing information complexity, client demands, economic forces, changing demographics and technology advancements continue to accelerate and demand a response. After a decade of debate about legal sector transformation – if, when and how it would happen – there’s no question that the global future of law is underway and that technology and the acceleration of technology offerings are key forces for change. Legal professionals are increasingly turning to accessible and impactful technologies that help them achieve better outcomes and offer higher value through data-driven analytics and insights and higher efficiency and productivity.

These are among the findings of the 2019 Future Ready Lawyer Survey from Wolters Kluwer Legal & Regulatory, an independently conducted survey of 700 professionals across Europe and the U.S. in law firms, corporate legal departments and business services firms. The Survey focused on three core areas and asked lawyers to assess their current state, future priorities and preparedness to identify what it will take to be future ready in the areas of:

  • Tools & technology;
  • Client needs & expectations; and
  • Organization & talent.
A distinct and recurring theme emerged throughout the Future Ready Lawyer Survey. Across Eu rope and the U.S., and in organizations of all sizes, technology is a key enabler of the future.

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