Legal Market Research: The Legal Workflow Management Report
BigHand has released the Legal Workflow Management Report which it believes to be the largest research project of its kind, gathering data from over 900 senior legal operations, HR and Support Services professionals across the globe.
The report shares new insight into law firms' plans for hybrid working, the allocation, execution and reporting of legal support work, future back-office structural plans and the impact of the pandemic on billable hours and staffing rates.
Below are some key findings from the report.
69% of firms say that their clients expect work to be completed by the most cost-effective resource, but nearly half of these firms are still monitoring their legal support work manually
Despite the demand for law firms to demonstrate increased client value, while also reducing costs, many firms are still operating blind and unable to accurately report on how work is moving through their back-office.
Firms have temporarily cut support staff by 50% and permanently cut support staff by 19%
A reduction in support staff contributes to a reduction in billable hours. The research also suggests that lawyers are undertaking more administrative work and low value work due to the lack of good processes for proper work allocation due to remote working.
43% of firms are planning to implement workflow technology over the next 24 months
With firms transitioning to hybrid (home and office) working models, the need for transparency of work flowing between the front and back-office is more crucial than ever. With workflow technology, firms can proactively track lower-value tasks and gain visibility of workload in order to achieve long-term operational excellence, no matter where staff are located.
Download the full report here.
BigHand will be sharing the report with a panel discussion review and findings webinar to be held on Thursday, 28 July at 12noon AEST. Register for the webinar here.
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