Based on the survey findings, there are gaps to fill, and there is progress to be made.”
Amidst all the proclamations that the law profession has turned some sort of tech and innovation corner because of the pandemic comes a reality jarring Survey from Wolters Kluwer. The Survey, entitled The 2020 Wolters Kluwer Future Ready Lawyer Report, reveals that clients and law firms remain far apart in how they view the world and what they value. The Survey was performed before the crisis. But the fundamental disparity in understanding, expectation, and even values hasn’t changed. Given the mindset of many law firms reflected by the Survey, it may not, at least for a while. The Survey was conducted through interviews of some 700 lawyers in law firms and legal departments across the world.
For example, the top thing the in-house lawyers value for their law firms is the ability to improve productivity, efficiency and collaboration through technology and work processes. This was followed by the ability to specialize, and the ability to understand client needs. But when the law firms were asked how they thought clients evaluated them, the law firm lawyers named price what their client most valued.
Moreover, while 79% of the clients said it was important to them that their law firms demonstrate efficiency and productivity was important, only 28% said their law firms can demonstrate that right now. Here’s one reason that’s so. To the lawyers, it’s all about price. Understanding client needs and specialization is not as important.
For the in-house lawyers, it’s not all about price. It’s really all about value. As Wolters Kluwer put it, “They expect firms to understand them, to collaborate with them, and to provide the specialization and expertise they need while operating in a highly productive