Five ways leading law firms can save time and money now
The pandemic has not only disrupted our work environments but has forced us all as businesses to consider ways to cut costs and increase efficiencies - Law firms are no exception. Here are our top five tips to save your law firm time and money:
1. Embrace Digital Transformation
When employees were based in the office sharing physical documents was still the norm across many law firms globally. The pandemic has significantly disrupted this practice.
Firms now need to consider creating document bundles that can be instantly shared with employees and clients around the world via secure cloud solutions.
2. Maintain A Remote Workforce
As more employees work from home, in many cases the cost associated with maintaining an office has decreased. Less money spent on overhead costs such as heating and lighting allows for further investment to be made in other areas of the firm.
Maintaining a remote workforce also ensures that the business premises can be used more productively for business activities such as meetings, training and necessary on site work.
3. Conference Call v Meeting
The increase in online conference calls has shown us what can be done online as opposed to in the boardroom or meeting rooms. In many cases, law firms were previously incurring significant costs in relation to travel to and from meetings unnecessarily.
By embracing conference calling where possible your firm can save on both time and money on an ongoing basis whilst maintaining a quality service. Of course there are occasions where in person meetings will occur but let these be the exception.
4. Choose the right technology
In the past many law firms have looked to on premise storage solutions in order to manage documents. Not only is there a difference in the financial cost of having on premise solutions, they require additional investment in terms of technical involvement and security.
An on premise solution requires on site staff responsible for maintaining this infrastructure. Similarly, an on premise solution requires in-house staff to manage its security. Not to mention the setup and on-going maintenance charges.
Our own electronic document bundling solution allows for documents to be hosted on the cloud, reducing overall costs and maximising security when compared to an on premise solutions.
5. Use email where possible instead of written correspondence
Traditionally correspondence between clients and law firms would have been conducted by post. However, the cost of producing and sending letters has increased over time with a standard letter costing at least €1 to send. There is also an environmental cost associated with using paper correspondence.
Where possible firms should look to conduct communications over email. This could cut costs and does not compromise security as it is a secure way of sharing information with clients. It is also a more sustainable way of conducting business, which will benefit the business in the future.
At Bundledocs our service allows for documents to be stored securely, shared instantly around the world, and for a further peace of mind, they can be password protected.
Find out more information on our service offerings here or waste no time and start your free trial today.