Tech-Savvy Firms More Profitable Now, More Prepared for the Future, Finds Survey of U.S. and EU Legal Professionals

A survey of 700 lawyers in U.S. and European law firms, legal departments and business-services firms finds that organizations that already leverage technology are better prepared to keep pace with an evolving legal market than those that are just beginning to use technology or that are not doing so at all. In addition, firms that were early adopters of technology were significantly more likely to report higher profitability in the last year than were firms that lagged in technology adoption. These are among the results of the 2019 Future Ready Lawyer Survey, conducted by Wolters Kluwer Legal & Regulatory and being released today as a 24-page report. “The legal technology boom has been underway for a few years – but for the first time, we are seeing a clear competitive advantage for firms that are adopting innovative solutions earlier than others,” said Dean Sonderegger, vice president and general manager for legal markets and innovation at Wolters Kluwer.…

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