Clio Invests in Innovative Solutions for Mid-Market Success
Cloud adoption and AI readiness are imperative for this burgeoning segment of the legal industry
- Clio is further investing in solutions to support its growing segment of more than 1,000 mid-sized law firms
- With AI advancements rapidly entering the legal market, mid-sized firms must think differently about the capabilities of their software, and invest in comprehensive solutions that can enable them to compete
NEW YORK, Jan. 30, 2024 /CNW/ - Clio, the world's leading provider of legal technology, announced its heightened focus and investment in solutions tailored for mid-sized law firms this year, defined as firms with more than 20+ employees.
Against the backdrop of a surge in both the quantity and scope of AI solutions, the legal landscape is undergoing rapid transformation. Today's firms are compelled to foresee these changes and embrace the solutions which are poised to serve them in the future. Recognizing this imperative, Clio is intensifying its focus on this segment of the legal market to cater specifically to the evolving needs of mid-sized law firms.
"In an era where technological advancement defines business success, mid-sized law firms face unique challenges in the legal market," said Jack Newton, CEO and Founder of Clio. "Big law firms are making major investments in AI, and smaller, more agile firms are pacing ahead in adoption. Mid-sized firms must look ahead to an industry dominated by AI to ensure their future technology needs are met. And that work begins now."
The 2024 Legal Trends for Mid-Sized Firms report underscores a significant discrepancy in the adoption of cloud-based legal project management software between mid-size and smaller law firms. With only 27% of mid-sized law firms utilizing such cloud-based solutions compared to a more substantial 73% among smaller firms, it signals a potential gap in AI readiness and technological integration within the mid-sized segment. Mid-sized law firms may face challenges in leveraging the benefits of cloud-based LPM software, which could be a crucial component in preparing for the broader integration of AI technologies in the future.
Cloud-based practice management solutions like Clio can enable seamless collaboration, enhance productivity, increase visibility, and improve overall firm operations. To stay competitive in an evolving legal landscape increasingly influenced by AI, mid-sized law firms need to address this technology gap and explore ways to integrate cloud-based solutions as a first step. Closing this disparity becomes crucial not only for immediate efficiency gains but also for positioning firms to leverage the full spectrum of AI-driven innovations that are reshaping the legal profession.
Trusted by more than 1,000 mid-sized law firms, Clio is investing in comprehensive solutions to help firms maintain their competitive edge. Many mid-sized law firms grapple with organizational silos, impeding team efficiency. Managing the complexity of organizational structures becomes more difficult as they grow, and improving operations can be hindered by rising overhead costs and outdated technology.
With Clio, firms are supported with the industry's best-in-class platform that addresses unique challenges for the mid-market segment.
- Clio's platform empowers mid-sized law firms to maximize team efficiency. By integrating a core solution that standardizes processes and centralizes key information, firms can automate manual tasks, capture accurate time entries, access court calendars, and collaborate seamlessly on tasks.
- Mid-sized law firms are complex, and require better visibility to make data-driven decisions. This includes monitoring case progression, predicting staff availability, determining case budgets and more. With Clio, firms are empowered to leverage their firm insights to simplify decision-making.
- To address challenges like rising overhead costs and managing multiple locations, Clio offers tools to take control of firm operations, and drive growth. From improving client intake and document management to expediting payments and automating client communications, Clio provides a comprehensive solution for firms to operate seamlessly.
- Addressing the common issue of outdated technology is crucial for remaining competitive. Clio offers a modernized technology stack, ensuring reliability, security, and connectivity. With features like remote access, a 99.9% uptime guarantee, top security protocols, and seamless integration with 250+ tools, Clio eliminates concerns about disconnected workflows, allowing firms to work efficiently from any location.
A new enhanced NetDocuments integration allows law firms with complex document management needs and high volumes to work seamlessly in one platform. This new enhanced integration enables legal professionals to connect Clio with NetDocuments workspaces, for better document management and enhanced collaboration. Legal professionals are able to search for, and create new workplaces within Clio, all without switching screens. This deepened integration is powered by Spring Solutions.
With the NetDocuments integration in Clio, legal professionals can:
- Empower their team with real-time co-authoring capabilities that facilitate smooth collaboration. Simplified version control ensures everyone stays on the same page, while robust commenting tools enable productive discussions on documents, ultimately boosting efficiency and productivity.
- Take advantage of a seamlessly integrated experience. Perform NetDocuments functions—such as searching, editing and versioning —within Clio. And leverage Clio's document features such as document generation and e-signature collection as well.
- Enable key staff members to establish unalterable security measures within workspaces, safeguarding sensitive data. NetDocuments helps to create security policies, assign access rights, and implement additional controls like ethical walls or need-to-know policies for enhanced security.
Launching in 2024, Clio Duo is a proprietary generative AI legal technology that will be natively built into all of Clio's offerings, beginning with Clio Manage. It is designed to be a dynamic AI-powered partner for legal professionals—always available to help make the most of their working day.
Clio Duo will serve as a coach, intuitive collaborator, and expert consultant to legal professionals, deeply attuned to the intricate facets of running a law firm. It will enable Clio customers to unlock the potential of their own data, helping them to become even more effective business owners, and drive better outcomes for their clients.
In the first generation of Clio Duo, legal professionals can benefit from:
- Personalized recommendations to help prioritize efforts for maximum task completion and work efficiency
- Reminder prompts for pending bill approvals and overdue tasks
- Bill generation based on activities related to a specific client
- Document summarization and generation of simple documents
- Matter overviews for improved client communications
- Conversations with Duo to gain insights on the firm's business performance, or to better understand Clio's product capabilities
"Today, over 1,000 mid-sized firms trust Clio for their success, making us proud partners in their journey," continued Newton. "Switching to Clio isn't just about upgrading technology—it's a transformation that helps these firms become more productive, run better businesses, and gain insights to improve their operations. Our commitment goes beyond software—it's about empowering mid-sized firms to thrive in a competitive legal landscape by providing the tools and knowledge they need."
For additional information on the platform of choice for mid-sized law firms throughout North America, visit: clio.com/enterprise.
Clio is transforming the legal experience for all by creating the world's leading cloud-based technologies for law firms—to keep lawyers and their clients better connected throughout the legal process. Firms of all sizes and practice areas use Clio products to manage firm operations, streamline billing and payments, automate legal documents, and improve client experiences. Following its US$250M Series D funding, led by TCV and JMI Equity, and its US$110M Series E investment, led by T. Rowe Price Associates, Inc. and OMERS Growth Equity, Clio has made history by becoming the first legal practice management unicorn in the world, and the first legal practice management company to be recognized by all 50 state bar associations. Learn more at clio.com.
SOURCE Clio
Media Contact: Mesila Malltezi, Communications Manager, 1-800-347-8314, [email protected]
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