With no final end to the global health crisis in sight, it has become increasingly difficult to track the far-reaching effects of the pandemic. To better understand the changes in the legal industry, MyCase recently launched a nationwide survey that looks at the state of law firms, current workloads and projections for the future. The results show that law firms are more positive about their financial prospects than in previous months and are using the technology more easily than before.
Sentiment over financial futures contracts in the legal community has shifted to a more positive outlook than in earlier stages of the pandemic. While financial stability remains a top concern among legal professionals in all sectors, 52% of respondents are more optimistic about the future of their company than they were 30 days ago.
When asked for their opinion on technology adoption in law firms and courts, the majority of respondents said the change was positive. 52% strongly agreed that introducing technology to law firms is a good thing, and 54% strongly agreed that it is also a good thing in courts.
With that in mind, respondents believe that companies that don't implement or don't use cloud technology are more prone to financial hardship in the second half of 2020. 70% agree that cloud technology is paramount to financial stability.
90% of the companies surveyed said that cloud-based technology enables their company to work remotely at this point. This suggests that more lawyers are realizing the benefits technology brings to managing a company's business as the health crisis unfolds.
To adapt your law firm to the challenges posed by COVID-19, consider MyCase, a cloud-based practice management software that allows law firms to centralize and access case details regardless of their location.
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