In a tight business environment, any financial losses that can be prevented would obviously be invaluable for all firms wishing to maximise their profits.
In an environment of increasing competition, law firms are under immense pressure to differentiate themselves from the crowd. Furthermore, firms are also increased pressure to provide value for money legal services with transparent pricing models, and new fee structures that move away from time-based billing from their clients.
“The Cloud” may seem like the latest confusing buzzword, but simply put: cloud computing is computing based on the internet.
Cloud-based software has seen rapid growth over the past few years within the consumer market where there has been an uptick in the use of cloud-based software such as Gmail and Dropbox. However, the larger point of interest for our purposes is whether the growth has also been replicated within the Australian legal market. There is no doubting the existence of a emergent market for cloud-based software solutions for lawyers, and although there are a number of issues that exist within the growing sector, the signs are there that we may be at the beginning of a revolution in how lawyers conduct their business via the cloud, with start-ups and small firms leading the way.