5 Takeaways from the 2022 Legaltech News Tech Survey Affecting Law Firms
Legal technology continues to shape the industry with force. According to research by Law.com’s Legaltech News, law firms are increasingly focused on new technology investments, training and cybersecurity efforts. Following an in-depth review of the report, we’re summarizing the five biggest findings and their implications for law firms.
1. Most law firms outsource tech support
Almost three quarters (71.4%) of law firms outsource at least some of their IT support. Law firms do not always have effective or sufficient in-house IT expertise. Third party resources can be an asset for firms that don’t want the overhead expense associated with full in-house IT teams or the time commitment required to handle IT themselves.
Frontline is adept in all major enterprise software products, proprietary systems and billing software, with regards to both infrastructure and application development platforms. We offer a full suite of services specifically developed for law firms.
2. The biggest security threats come from within firms
When it comes to the most prominent cybersecurity threats, 38.3% of technologists believe employee mistakes are the biggest culprit, while 35.7% of technologists point to ransomware. However, both sources involve oversight from firm members and staff.
Employee mistakes can happen quickly: someone at the firm falls for a phishing scam or clicks an infected link. Scams are getting more sophisticated and can fool even the most tech-savvy employees.
Ransomware is a type of malware that allows a cybercriminal to gain access to sensitive data and threatens to publish or permanently block the owner’s access until a ransom is paid. Ransomware is often spread through phishing emails containing virulent attachments or through corrupted downloading.
The best way to mitigate risks of internal mistakes is through training. In fact, the survey also found that cybersecurity training has increased (67.9%). Conducting regular cybersecurity training offers opportunities to both educate employees on methods used by cybercriminals and remind employees of the policies and procedures to follow if they encounter an attempted attack.
3. Firms are increasingly using cloud-based solutions
Cloud services are easy to update and can be quickly integrated across an entire organization. Law firms find that cloud-based solutions provide flexibility, adaptability, increased agility, simplified user experience, and in many cases, significant cost savings. Law firms’ clients are also familiar with cloud-based solutions and expect their lawyers to use them.
4. Firms are more prepared to handle security threats
More law firms are strategically fighting cybersecurity threats through new technology purchases and engaging support from outside partners. The Legaltech News Tech Survey found that 60.7% of law firms have increased their technology budgets and 50% of law firms hired a non-law firm company with cybersecurity expertise. Increased cybersecurity spending and outside expertise allows firms to be more prepared to combat security risks and respond to breaches.
Some law firms still struggle with arcane technology systems where few users have the same versions of software or hardware and virtually no applications integrate. Updating and fully integrating legal technology is the best way to increase efficiency and can be done with the help of a technology partner.
Frontline’s expert engineering team provides solutions that are cost effective, easily scalable and offer increased efficiency and faster response and delivery times.
5. IT budgets are increasing
Compared to 2021, law firms have increased IT spending by 10%. Law firm leaders understand the importance and benefits of technology investments. Proactively investing in new and updated technology saves money in the long run. Firms won’t find themselves in a bind when outdated hardware and software crashes. Frontline’s experts and vendors regularly keep equipment current so that firms don’t have to invest in technology that can quickly become outdated.
If your firm needs a partner that can implement, manage, support and secure new technologies, we are here to help. Frontline’s services increase the agility, security, and productivity of law firms, so lawyers and staff can focus on serving their clients. To learn more, please contact us.
Gulam Zade is the Chief Legal Officer at Frontline Managed Services.