Olga V. Mack, CEO of next-generation contract management company Parley Pro, writes in Above The Law on innovation in the legal industry, quoting Alicia Ryan, head of the practice innovation group at Fenwick and West, as saying: “Some law firms can lack disruptive competition. The billable hour model can also make things challenging. And then there’s the culture of ‘following the precedent.’” She lists various ways in which firms can further innovation efforts, including ‘Create a Sense of Urgency’, ‘Allocate Adequate Staff Resources’ and ‘Incentivize People to Help’. The article concludes that knowledge, open-mindedness, and stubbornness are fundamental to encouraging innovation in the sector.
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.