As part of Legal Support Network’s series of Industry Voice articles DPS Managing Director Osman Ismail has given his views on the legal market as it stands, what firms will be doing in five years time and how a strong working relationship with technology suppliers can benefit legal businesses.
LSN: What’s the biggest or most important thing that law firms will be doing in five years time that they’re not doing now?
Osman: The ‘legal’ market is changing – there is no legal market as we know it right now. The market is split into work types and specialities such as claims business, wills, leasehold enfranchisement , crime and so on. Some markets will focus on areas such as territory and be very regionally based. Law firms will need to decide what they are and ‘shape’ their business to fit the target market. The amount they pay their staff and the type of staff they have will be influenced by and will reflect their markets. Their marketing needs to reflect the type of firm that they are which will almost always be more focused and less generic.
In terms of service delivery, at DPS we believe online tools, such as mylegalspace our client portal solution (fully integrated to our case management software), will become critical to how firms provide the highest service levels and engage with clients. This is no longer a matter of case tracking, these services will provide a new medium for communication, collaboration and matter progression.
LSN: What are the top things firms could do to be more efficient/profitable?
Osman: There are three things all firms need to do, and this is focus, focus, and then focus. This will allow the firm to reshape their staffing so that they are right for the market that is being aimed at. If you are processing mass debt recovery cases then there is no point in employing many lawyers at high salaries, the staff shape has to be right for the work being done. The work types need to be split up so that work is done by staff at the right pay grade. Firms cannot afford to have highly paid staff doing work that could be done at a junior grade.
Added By: DPS Software | Date Added: 4th Jul 2013