Meet Jessica. She leads the legal team at a popular real estate firm. Her team is hardworking and dedicated - but she’s noted their performance has been faltering as of late. With heavier workloads, the team clearly wasn’t working as efficiently as they could be.

Each day they’d spend hours drafting complex contracts by hand, tediously copying and pasting clauses and explaining contracts to different parties. There were communication breakdowns due to poor collaboration between colleagues - and even some contract errors. For Jessica, it was evident: the legal team was placing all their energy into drafting legal documents, instead of supporting the real estate firm to really thrive.

Efficiently managing the "contract life cycle" can be a headache for many corporations. That is it is important to have a contract lifecycle management strategy in place.

Have you ever taken the time to decipher the legalese of a contract? How about a dozen? Every day lawyers are left trying to complete contracts without a standardised process, which raises the importance of efficient legal contract management.

As a legal professional, you can agree that reading good books is the best way to stay stay educated about the industry and to be on top of the inevitable changes that happen. As well as keeping abreast on issues emerging in the near and the far future.

Technology is undoubtedly revolutionizing and transforming different sectors and industries, And of course, one of the sectors that do not escape this transformation is the legal sector.

It has become absolutely necessary that all legal professionals are prepared to face these new digital transformation technologies while being able to take full advantage of the benefits of these digital tools.

According to many business forecasters and market statistics, Legal tech has been receiving a massive amount of investment worldwide. This makes us wonder what does it really mean for the Legal professional and how is that money being spent? 

The move from traditional filing systems to cloud-based document management software has been not just the trend but the standard for most law firms. This has rendered firms who still keep a substantial amount of paper files obsolete in their practices. But in 2020 there have been additional challenges due to recent global office closures and new social distancing rules.

It’s no secret that the legal industry is rapidly transforming and today, law firms and legal departments from all over the world are feeling the pressure to respond.

Perhaps it’s no wonder; clients expect better and more efficient customer service and law firms feel the need to stand out from the crowd.

Going to the local jurisdictions and wasting your precious time on the administrative processes for compliance regulations is a matter of the past!

Legal tech is becoming increasingly popular among big players in the legal sector and among the influencers and leaders of this sector. We can agree that there are many advancements in it and that it is bringing the sector to adapt to modern changes. However, in this article, we will walk you through the return of investment in different types of those legal techs and how beneficial they can be for your practice both in the short and long term.