Data Design Diversity - RSG Consulting

 
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Data Design Diversity - RSG Consulting
2021
         Interwoven
Evolutions in the practice of law
                                    Data
                                    Design
                                    Diversity
                                    We hear a lot about innovation in
                                    the business of law. But for most law
                                    firms, this still means innovation in
                                    the delivery of legal services.

                                    Little is written about how the
                                    practice of law is changing.

                                    RSG’s research over the past three
                                    years reveals significant changes in
                                    the practice of law: from digitising
                                    clients to non-legal fee-earners in law
                                    firms. However, not all law firms are
                                    ready to make these changes. Only
                                    19% of partners in major law firms feel
                                    confident they understand the digital
                                    economy and its implications for the
                                    practice of law.

                                    This report sets out what clients need,
                                    the state of play in the profession and
                                    the SIX ways law firms need to evolve.
Data Design Diversity - RSG Consulting
Interwoven REPORT 2021

The practice of law is not                                                     The complex problems faced by multinationals do not have legal

keeping up with client changes                                                 practice area name tags. In-house legal functions have jumped ahead
                                                                               in using cognitively diverse teams, and how they pool expertise and

How many lawyers think of                                         Be           knowledge. We see this in many significant legal purchasers such as AB-
                                                                               InBev, Google, Pfizer and Deutsche Bank. But when partners predicted
                                                             multi-faceted
their cars as iPhones?                                                         the biggest changes to their practices over the next three years, the
                                                                               most common answer was virtual working.

     Design thinking caught on
  quickly in the profession. But                                                                                        Digital is more than using
  its main application over the                                                                                         technology better. But
    past four years has been to                                                                                         for many lawyers, their
     streamline legal processes                                                                                         understanding of its
                                                                                                                        implications ends there. Half
     and make documents look                Be                                                       Be                 the partners surveyed in 2020
    pretty. It is only now being
   applied to legal content and
                                          usable                                                   digital              counted video conferencing
    its most effective users are                                                                                        as automation. Only 13% of
    in-house lawyers. Only 13%                                                                                          law firms have a data strategy
      of the 500 legal expertise                                                                                        that sees the value of using
      submissions received into                           Clients want their                                            client and third-party data to
                                                                                                                        enhance their advice to clients.
  the FT report in 2020, where
         firms put forward their
                                                              lawyers to:
     flagship legal solutions for
        clients, involved design
                        thinking.

                                                                                                         The pandemic accelerated business model
                                                                                                         changes for many companies such as General
        Whilst companies such as Unilever can       Be                              Be                   Motors. But only 6% of partners said that
        report doing business up to 40% faster                                                           client changes will impact the practice of law
     (through streamlining contracting times)
                                                   fast                        future-ready              in the next few years. GM now likes to say it
  only 14% of law firms said that they use data                                                          moves at “ventilator-speed,” as it reimagines
  to provide time and cost savings for clients.                                                          its product and go-to market strategy, such
                                                                                                         as seeing cars as moving iPhones.
Data Design Diversity - RSG Consulting
Interwoven REPORT 2021

                                                      TO
                                  FROM
                                                      BRINGING THE ‘WHOLE’
                                  WORKING IN SILOES
                                                      FIRM TO CLIENTS

Firms need to
evolve on six                     FROM
                                                      TO
                                                      TOPIC-BASED,
                                  PRACTICE AREA
fronts                            APPROACHES
                                                      COMMUNITIES
                                                      OF EXPERTISE

This image identifies the
                                                      TO
six evolutions we see are         FROM
                                                      DATA ENHANCED
necessary for law firms to        INTUITION AND
                                                      KNOWLEDGE
keep pace with clients and        JUDGEMENT
the market. Many firms have
already begun their journeys
and are at various stages.
                                  FROM                TO
Underpinning the six evolutions   BEING A SERVICE     A FIRM THAT DELIVERS
are what RSG is calling ‘the      BUSINESS            EXPERIENCES
three Ds’. Firms need to
become more proficient in:
collecting and using data,
                                                      TO
leading with a design-thinking    FROM
                                                      INCLUSIVE FEE-EARNING
mindset, and prioritising         NON-LAWYERS BEING
                                                      TEAMS OF KNOWLEDGE
diverse viewpoints to solve       OUTSIDE THE TEAM
                                                      PROFESSIONALS
complex client problems.

                                                      TO
                                  FROM
                                                      COLLABORATING WITH
                                  COMPETING WITH
                                                      PEERS ON CLIENT-LED
                                  PEER LAW FIRMS
                                                      PLATFORMS
Interwoven REPORT 2021

The evidence                                                                                       About the RSG Interwoven
                                                                                                   Report 2021
Timeframe: 2018-2021
Four key stakeholder groups, globally:                                                             Based on the research for all our projects in the last three
                                                                                                   years, the RSG team decided to bring survey data, case
                                                                                                   studies and insights from thousands of interviews together

1                          2                      3                        4
                                                                                                   to sum up the changes we see to the practice of law.

                                                                                                   For more information
Private practice law       Corporations: CEOs,    Law companies, legal     Academia, non-
                                                                           profits, professional   n To purchase the full Interwoven report, contact RSG
firms: partners, c-suite   CTOs, CIOs, CFOs,      technology firms, big
                                                                           peer organisations,         Consulting. The report consists of a 35-slide deck, which
business professionals,    COOs, general          four firms, consulting
                                                                           bar associations etc.       covers in analytical detail the changing client demands
leadership teams           counsel, deputy GCs,   firms: CEOs, CTOs,
                                                                                                       and the shifts law firms need to make to meet them,
                           legal operational      Partners, CMOs,
                                                                           100+ long-form              with global case studies and survey data to inform future
2600 Interviews            professionals          product designers
                                                                           interviews and access       strategic discussions.
600 Surveyed
                           2250 Interviews        400 Interviews           to research studies     n RSG would be happy to customise the report for law
3500 Case Studies
                           250 Surveyed           300 Case Studies                                     firms in interactive workshop sessions, designed to help
                           750 Case Studies                                                            law firm leaders and other key internal stakeholders think
                                                                                                       deeply and differently about where the practice of law is
                                                                                                       headed.
                                                                                                   n To find out more, please email
                                                                                                       mary.ormerod@rsgconsulting.com

                                                                                                   Image from the series
                                                                                                   Interwoven, Unidentified 18, 2017
                                                                                                   © Kyle Meyer, Courtesy Yossi
                                                                                                   Milo Gallery, New York
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