Trends in Legal Services in 2022: How firms will reshape
Legal trends to get on board with in 2022
The past two years have brought about a number of changes in the legal industry. As remote working has transitioned from temporary to permanent, law firms have had to review their way of operating to ensure their lawyers can continue to work efficiently, whether they are at home or in the office.
Whilst drastic changes have already been made, we expect the legal industry will continue to reshape in the coming year.
The legal industry has previously resisted adopting new forms of technology, preferring to continue using traditional methods of working. However, following the introduction of remote working, firms have been forced to integrate technology as part of their day-to-day operations. From managing data to invoicing clients, law firms have started to use technology to automate the administrative tasks of their lawyers, in the hope that they will have more time to serve clients.
As law firms become more open to integrating technology into their business structure, we predict more will begin to think about preparing a digital strategy. So, instead of just copying what others are doing, law firms will begin to consider their specific needs and how technology can support them.
Prioritising company culture
Using technology, many law firms have made the permanent move from physical offices to digital platforms. Where remote working was once considered an unusual offering to lawyers, it is now considered the norm. However, if all law firms are operating in similar ways and offering the same benefits, how will lawyers decide where they want to work?
Heading into the new year, we expect lawyers to pay more attention to company culture. As remote working spreads throughout the legal sector, more lawyers will begin to realise how isolating it can be to work from the comfort of their own homes. This will lead to a push for firms to prioritise culture if they want to compete for talent.
Increasing mergers and acquisitions
Choosing to operate remotely has had a direct impact on the geographical spread of law firms, with lawyers located across the country. Yet, this physical expansion has been seen as a good thing by law firms looking to grow their brand, as it has allowed their lawyers to offer legal advice to a whole new client base.
Throughout the coming year, we expect law firms will look for other ways to expand their geographic reach and market share, leading to an increase in mergers and acquisitions. In a recent whitepaper by Acquira Professional Services, it was reported that “22% of law firms want to increase their footprint in the UK, with a further 9% looking to grow internationally”. For these firms, mergers and acquisitions will surely be a popular route to take.
Achieve your goals in 2022
As 2022 unfolds, we expect law firms to finally settle firmly into remote working, leading to an increase in businesses preparing technology strategies, prioritising culture and growing their geographic reach. However, with the responsibilities that come with running a law firm already taking up so much time, attention and resources, we expect some will fall short of achieving these goals.
The Bamboo Platform is a law firm operating system, which supports law brands with reaching their goals. If you want to integrate technology, Bamboo can help you implement an IT structure that fits your firm. If you want to review your culture, Bamboo can take over the back-office processes whilst you prioritise your lawyers. If you want to acquire another firm, Bamboo can streamline the process by migrating both firms onto the same software.
No matter what your goal is for the coming year, the Bamboo Platform can help. Get in touch to find out more.