LegalTech solutions or how technology is also changing the legal sector

Posted by media on August 17, 2017 at 9:00 AM

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Until recently, the only technologies that law firms and legal advisors had adopted were email and office tools such as word processors, spreadsheets or tools to create presentations. At most, some of the more technologically “advanced” law firms may even have cloud storage systems.

But this panorama is changing: a multitude of technological solutions are appearing, whose goal is to facilitate and speed up the daily work for law firms and other companies in the legal sector. Also, professionals in this field are changing their mentality and now they are open to redesigning their way of doing things with the help of technology.

In this post, we review the main LegalTech solutions, those that are most notable for their usefulness in the legal sector.

This post is also available in Spanish


The digital transformation of law firms and legal advisors

 

Although the digital transformation has taken much longer to reach the legal sector than other sectors - such as the finance or insurance sectors - we can finally say that the desire to renew and update technologically is also affecting lawyers, legal advisors and other professionals that work in law firms.

As proof of that is the emergence of the term LegalTech, which encompasses all the tools and software solutions that are emerging specifically to simplify and speed up the work of these law professionals. Even many of these new solutions are already changing the way of doing things.


Related Post >> RegTech: technology to meet legal and regulatory compliance


In addition to the appearance of technologies that are trying to solve specific “problems” in the legal sector, there is also a shift in the mentality of the professionals in this field. This change is clearly driven by new generations of digital lawyers and the rise of law firms that are digital since its foundation, such as the case of the Spanish firms Delvy Law & Finance, Abanlex or Avatic Abogados.


"Since we founded Delvy Law & Finance, our goal was and still is to bring value to our clients. And for this, we have always relied on technological solutions. One of those we already use for its speed and convenience to sign documents online is Signaturit.”

Pablo Mancía, Founding Partner at Delvy Law & Finance


The necessary digitization of the legal sector

Times are changing for everyone, and the legal sector cannot be left behind. The adoption and use of new technologies in law firms is essential to ensure their continuity in the medium and long term. And this is for a double reason:

  1. Increasingly, the use of technology will be a source of competitive advantages.
  2. The customers of law firms are also changing, they are more demanding and sophisticated than ever before, and they demand the same facilities and personalization that they are receiving from any type of company.

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LegalTech: new technologies applied to the legal sector

Generally, LegalTech solutions and platforms can be grouped into four categories:

1. Self-service legal platforms

These platforms provide downloadable templates for contracts and legal documents for free, or for a very low price. Some also offer legal counselling services. In Spain, some examples are Abogadius, BigleLegal or legalbono.

 

2. Automation tools for processes and tasks

There are also tools created exclusively for law firms that allow to streamline routine processes and automate daily tasks, which are usually tedious and time consuming. The use of these tools contributes in cost savings and increased productivity. Some examples in Spain are nubbius, sudespacho.net or Kleos.

 

3. Legal marketplaces

These are marketplaces or online platforms that facilitate communication and put potential clients in contact with lawyers and legal advisors. For example: elAbogado.com or online companies such as Lexdir or LineLex, from where you can also hire the services of specialized lawyers. 

 

4. Global management solutions

Although there are some strictly LegalTech global management softwares, such as the case of Quolaw, these solutions are generally not exclusive for companies in the legal sector.

It is still worth mentioning some, since in the end they are contributing to digitize the internal processes of law firms and legal advisors’ companies:

 

5. Tools to obtain digital evidence 

These types of tools are essential for any law firm, since digital evidences are proof that can be presented in any legal processes. And today, this type of evidence can be admitted in the proceedings, because its evidentiary value is officially recognized.

 

In Signaturit we offer several solutions that facilitate obtaining digital evidences, such as the advanced electronic signature or the electronic delivery.

In the case of our electronic signature solution, its use goes beyond obtaining digital evidence, since it’s a technological and legal solution that serves to sign any type of document or contract remotely, thus giving faith to the will of the signer.

With our advanced electronic signature we can unequivocally attribute a signature to a specific person, which facilitates the work in preparing a defense for someone or an accusation of falsification, fraud or impugnation of the authenticity of a signature.

If you want to try out our advanced electronic signature solution, you can do so for free for 14 days. Register here and you'll be able to access all the available features, including our certified delivery solution.

This post is also available in Spanish


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