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Legally Speaking Podcast
Legaltech Trends and Their Impact on Lawyer Efficiency - Joshua Lenon - S5E17
Feb 21, 2022
Legally Speaking Podcast welcomes Joshua Lenon, lawyer in residence at Clio. They discuss the responsibilities of being a lawyer in residence and the key findings of Clio's Legal Trends Report. They also explore the recently launched matter management and billing feature for legal aid firms by Clio. Additionally, they discuss how lawyers across the globe have adapted to technology.
33:45
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Quick takeaways
- The Legal Trends Report reveals that lawyers tend to bill less than they believe, highlighting the importance of improving time tracking and reducing administrative tasks to increase revenue over time.
- Clio has introduced legal aid features, including automating administrative tasks and simplifying billing processes, to help legal aid providers in England and Wales improve efficiency and increase access to justice.
Deep dives
Understanding the Legal Trends Report and its Impact on Law Firms
The Legal Trends Report, produced by Clio, provides insights into the legal industry based on data from over 150,000 legal professionals using Clio. It reveals that lawyers tend to bill less than they believe, with average daily billable hours around 2.6. Administrative tasks and inadequate time tracking contribute to this discrepancy. However, law firms that gradually improve billable work time can double their revenue over five years. The report also highlights the growing demand for tech-forward law firms, with 79% of legal consumers seeking the ability to work remotely with a lawyer. This shift towards shared responsibility and technology adoption presents opportunities for law firms.
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