Future Ready Lawyers Survey: New and improved technological capabilities provide many organizations in the legal sector in Europe and the US with greater resilience, better client relationships and better performance. 63% of companies at the forefront of technology report that their profits have grown in the last year – more than any other company.

In the fourth year of Wolters Kluwer Future Ready Lawyers Survey It is clear that technology is becoming an increasingly important factor for better performance in the legal sector every year and the demand for technology continues to grow.

Legal Technology Report

The 2022 report highlights the following trends in Europe and the US:

• The growing importance of technology is increasing, both for law firms and for legal departments within companies.
• For law departments, technology is an important factor in the selection and retention of law firms.
• The increasing use of technology is one of the most important changes for law departments and law firms.

There is no denying that the need for technology is a key driver for performance, efficiency and productivity improvements. Yet organizations are still struggling with optimal use of technology and demonstrate that improvements are still needed in change management and in training for new tools.

Also in 2022 more technology is being used and more invested in technology, and this growth is expected to continue in the future. Faced with increased workloads and tight budgets, corporate legal departments are now using technology to automate work and increase productivity. Law firms, faced with differing client expectations, increasingly fierce competition, and the demand for greater productivity, are also increasingly dependent on technology.

Tech leaders succeed

The numbers are clear: technology leaders (organizations that make the best use of technology) succeed. Each year they outperform other organizations in several key aspects and demonstrate why investing in technology and implementing the right technology is important. 63% of law firms at the forefront of technology report that their profits have grown over the past year – more than any other company.

By 2022, 54% of organizations identify themselves as technology leaders, while 44% identify themselves as “in transition.” The number of organizations identified as leaders has increased compared to previous years (40% in 2021 and 39% in 2020). Leaders have demonstrated that they are more resilient, flexible and perform better during a pandemic and in a rapidly changing legal landscape.

Technology and legal talent

Lawyers want to work for organizations that can handle technology. 87% of lawyers in law departments and 83% in law firms believe it is important to work in organizations that make the best use of technology. Today’s talent has high expectations when it comes to accessing the latest tools and technologies that enable flexibility, change and remote work.

Wolters Kluwer 2022 Future-ready Lawyers Survey: Leading Change Report includes insights from 751 legal professionals across Europe and the US. Download today’s report and read all about LegalTech >>