Legal firms are being urged to adopt cloud services and invest in new IT technologies to avoid being overtaken by a raft of new entrants to the market in an era dubbed “Tesco Law”.
A report compiled by legal IT specialists Accesspoint and cloud service provider Databarracks looks at what traditional legal brands need to do to survive and pegged cloud services as having a crucial role to play in the future of the market.
“Everyone now has access to the same platforms, software systems and online services, regardless of their size or budget. Firms that adopt cloud services will not be at a disadvantage technology-wise against the huge businesses entering the market,” said Richard Roebuck, MD of Accesspoint.
Roebuck used the example of the banking sector to show that deregulation brought with it innovation, new service delivery methods and additional markets that weren’t previously there, and he sees no reason why the legal sector can’t replicate this.
Alternative Business Structures [ABS], which were created after the Legal Services Act was introduced in 2007, allow high street legal firms to operate and have been around since 2011. ABS should be a key driver for traditional legal firms to change with the times and looking at cloud services is something they must do to ensure ‘good business management’.
“Part of ‘good business management’ is knowing where to focus your efforts, making sure that your IT department is adding value rather than just ‘keeping the lights on’,” said Peter Groucott, MD of Databarracks. “The significant benefits of cloud computing, namely flexibility, cost efficiency and scalability, means that for organisations looking to re-evaluate their existing IT infrastructure, cloud services provide an attractive alternative to onsite IT.”
Using cloud services to minimise on costs will therefore allow legal firms, both small and large, to compete with high street offerings and does even more to illustrate the potential the cloud has to transform any industry.