During the pandemic, solo law firms using multiple tech solutions saw up to 50% more casework than other solo firms.
This represents a substantial increase compared to pre-pandemic levels, but follows an existing trend.
What is critical to note is that by adopting tech solutions, these firms are seeing incremental changes month-over-month. These small advantages are then ultimately compounded into an exponential advantage compared to firms that don’t invest in tech.
Even when compared to law firms of all sizes, solo firms using multiple solutions generated up to 18% more revenue and 19% more casework. This indicates an important competitive advantage that solo firms can use, as they can adapt and implement new solutions much quicker than larger firms.
What solutions are we talking about here?
- Centralized case management systems
- CRMs for managing leads
- Marketing automations to follow up with prospects
- Client portals
- Electronic payments
- Client intake forms
As time goes on and solo firms staying on the cutting edge of legal tech keep implementing new solutions in their practices, this divergence in revenue and casework will become even more apparent. In the long run, firms resisting these changes will simply be driven out of business.
Research source: https://www.clio.com/resources/legal-trends/2021-solo-report/read-online/
