Dodging the Draft
How proofreading failures are creating risk for firms and their clients and denying firms extra revenue.
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Law firms are under increasing pressure to become more efficient in the way they work, driven not just by macroeconomic conditions but also increased competition. There is a growing expectation from law firm clients that firms will make greater use of technology in order to reduce costs and increase the value they provide to clients.
Yet law firms have for so long operated in an environment in which efficiency was discussed but not really approached systematically. Although law firms have looked for easy savings in resourcing costs through the use of services offered by outsourcing and offshoring providers, they are barely scratching the surface on legal process efficiency and what can be achieved when they closely analyse what lawyers do, where the inefficiencies lie and how technology can help.
When analysing the legal process to look for efficiency gains, drafting seems like an obvious place to start, given that 90%* of lawyers spend time every day creating and reviewing documents. Lawyers can spend hours on this core task every day, but their manual activities remain largely unchanged by technology.*
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