What is RPA in the Legal industry?
The Legal industry have been early adopters of RPA. Firms are now using this technology to accelerate invoicing and billing, monitor IP infringement, and manage compliance functions internally and externally.Get In Touch
RPA Use Cases for the Legal Industry
The following are three of the top applications of RPA in the Legal industry:
- Billing Management
- The billing function in law firms can be complex – some clients pay invoices in-full, others make regular payments, and yet others make irregular or unscheduled payments. Billing departments can leverage the power of RPA not only to track payments, but to automatically generate invoices based on set criteria. RPA can tackle even the most sophisticated billing processes in order to save time.
- Compliance and Risk Management
- As the technology landscape becomes more advanced, so does the need for well-engineered documentation and compliance practices. GDPR, CCPA, and other laws increase the complexity of automating these processes, but it can be done with a strong RPA plan. In addition to this type of automation, RPA can also provide real-time notifications to legal departments regarding internal compliance issues so staff are able to immediately respond.
RPA Benefits in the Legal Industry
- Improved Staff Retention
- Paralegals have a difficult job attempting to keep up with the attorneys they work with – laws are constantly changing, clients can be high-touch, and every case has details and timing which are critical to success. RPA can eliminate much of the mental energy and physical execution for Paralegals leading to significantly lower levels of turnover.
- Reduced Liability
- While most law firms have systems in place to remind clients of important renewal dates (e.g. trademark renewal or business registration deadlines), many clients fail to act on the first notice. RPA can serve as a digital employee to follow up on these time-critical tasks which have heavy impact on the client experience.