Cloud Technology Myth-Busting: 6 Truths About the Cloud’s Impact on Law Firm Efficiency
By Morgan Martinez, Content Manager, LawPay and MyCase
Times are a-changin’
In this digital age, most lawyers are transitioning data storage and essential workflows (including time tracking, law firm billing and payments, legal accounting, and document management) to the cloud. Yet, some attorneys are still hesitant to take the plunge. This reluctance often stems from misinformation or a lack of clarity around cloud technologies’ benefits, cost, and ease of use. Below, we’ll correct the six most common myths about cloud technologies.
Myth: Switching to the cloud is difficult
Embracing new digital devices in an age-old profession can seem daunting. Fortunately, adopting cloud-based tools is one of the easiest ways to leverage technology that can make your practice more efficient and profitable.
Let’s say that you want to create a centralized firm calendar to easily schedule meetings with clients and between team members. But there’s a catch: Your team is full of die-hard Outlook calendar fans who don’t want to learn another system.
Not a problem. With MyCase legal calendaring software, you can create a firm-wide calendar and set up an integration with your Outlook (or Google) calendar in less than five minutes. When you add an event, it will automatically add to both calendars—MyCase and Outlook/Google. Voila! Everyone gets to use their preferred calendar and you can easily coordinate with your team on all appointments, deadlines, and meetings. It’s a win-win.
If “sans integrations” is more your style, we hear you. There are several simple methods of migrating data, which means you have the flexibility to choose what works for your firm.
Myth: Cloud software isn’t secure
A locked filing cabinet or a password-protected computer folder may seem like a secure document storage solution. But can it compete with bank-grade security?
The best SaaS tools use 128-bit Secure Sockets Layer (SSL) encryption—the same type used by banks and financial institutions. In addition, this software allows you to control access to confidential information and track who accesses files.
You can also mitigate the risk of lost data with automatic updates. That means no more worrying about losing valuable files if a computer goes down.
Myth: Cloud technology is expensive, especially for smaller firms
SaaS software allows solo practitioners, small, and mid-sized firms to access resources that may otherwise be cost-prohibitive. For example, you may not be able to afford an in-house accountant but you can use legal accounting software to track your law firm’s finances, reconcile transactions, and stay compliant when managing trust accounts.
Many of these SaaS tools are very affordable because they’re offered on a subscription basis—typically monthly or annually. This pricing structure offers a suite of benefits, such as smaller, consistent fees and the flexibility to scale to your firm’s individual usage.
Myth: The cloud is only for tech-savvy lawyers
The COVID-19 pandemic accelerated technology adoption across the legal industry—for tech-savvy lawyers, pen and paper fans, and everyone in between.
Pre-pandemic, 73% of law firms used cloud-based software, according to the MyCase 2022 Legal Industry Report that surveyed more than 2,300 legal professionals (56% of which were law firm partners). Post-pandemic, this number increased to 80% and is continuing to rise. More than 50% of respondents said that their firms invested in cloud computing tools in the past year due to the pandemic’s effects, per our Industry Report.
It’s clear that tech-savvy lawyers aren’t the only ones adopting cloud technologies. These tools are here to stay and the legal industry is lovin’ it.
Myth: If you’re not a remote/hybrid team, you don’t need cloud technology
Before the pandemic, most law firms had in-office teams. Now, nearly 90% of legal professionals said that their workplace allows lawyers to work remotely, according to a nearly 2,000-person survey conducted by the American Bar Association (ABA).
The status quo has changed quickly. In fact, 70% of legal professionals stated that remote working technology is part of their firm’s long-term business continuity strategy, per our Industry Report. If another wave of the pandemic or a natural disaster prevents people from returning to the office, in-person and cloud-enabled teams can quickly transition to remote work.
Myth: Cloud software isn’t worth it
Also known as “cloud technology won’t impact our bottom line that much, anyway.” No disrespect, but we beg to differ.
- Law firms that accept online payments get paid 32% faster than those that don’t, per MyCase data.
- More than 60% of people said their law firm collected more money due to online payment processing software, as reported in the MyCase 2021 Legal Industry Report.
- Our Industry Report also found that 54% of respondents captured more leads using online (software-enabled) client intake forms. Additionally, 94% of legal professionals said document management software made document sharing easier, and 92% believed it facilitated document collaboration.
- Lawyers who used MyCase Smart Time Finder (a feature that reviews all activities done in MyCase to track billable time) billed an extra 25 hours per year, according to our MyCase Benchmark Report, Part 1: How Work Gets Done in Law Firms.
- Attorneys who use MyCase SaaS tools see a 38% average increase in caseloads and gain 3+ billable hours per day.
The research is clear: Cloud-enabled technology can help law firms be more profitable and productive. Another myth bites the dust.
What does this mean?
“Cloud software” may sound like scary sci-fi, but chances are good that you’ve already used it in everyday life. For example, when checking your email, connecting with friends on Facebook, or conducting banking transactions online—you’re using cloud software.
Using everyday legal SaaS tools is just as simple. Most importantly, these tools can make your life easier and your firm more efficient and profitable.
Want to see how the cloud can help your firm meet its financial goals this year? Get your 10-day free trial of MyCase now.
And don’t forget to schedule your demo of LawPay, the online legal payments solution trusted by more than 150,000 lawyers. LawPay and MyCase seamlessly integrate, so you can manage your caseload and securely accept payments all in one place.