The legal services industry: a gigantic global market estimated to be worth $860 billion, but which has been slow to innovate and reluctant to embrace change.
Where other sectors have been transformed by technology, many legal service providers have fought hard to retain traditional structures, processes and ways of working.
But times are changing. Disruption has finally arrived in the legal industry and is accelerating, with the emphasis on the delivery of services for the convenience of the client, and no longer the preferences of the provider.
One firm is at the forefront of these changes. DWF Group is a global provider of integrated legal and business services and the only global legal services business to own a Tier 1 rated alternative legal services provider (ALSP).
ALSPs provide outsourced and process-led legal operations, designed to standardise, systematise, scale and optimise legal work. They have gained popularity in recent years and represent the fastest-growing segment of the market.
However, in most instances, companies have to contract separately with their traditional law firm providers and with an ALSP. This is what makes DWF different.
In 2020, DWF acquired Mindcrest, a market-leading ALSP with operations in the US, UK and India. This acquisition added to DWF's existing capabilities and gave clients the ability to seamlessly access a one-stop shop for all legal and business services.
As Matthew Doughty, Chief Strategy and Growth Officer at DWF Group explains:
"We possess the ability to provide both straightforward ALSP services and combine those with complex legal advice. No other ALSP with our scale and market reputation is part of a Group with a law firm, and that combination is unique."
DWF’s Legal Operations team is dedicated to providing intelligent strategies and legal services to its clients through its innovative approach. It has expertise in the delivery of contract management (including Contract+, a fully managed end-to-end solution), e-discovery and litigation support, legal operations, technology and consulting, and compliance and regulatory management.
It applies the right balance of people, process and technology to best shore some of the work. Doughty explains, "The ability to invest in technology and tech-enabled solutions is the key."
The utilisation of data provides insight for better decisions, integrating processes into its clients' operations and facilitating the creation of long-term relationships through efficient and effective delivery.
As the global economy turns into a new period of macro uncertainty, the demand for legal services to be delivered simply and efficiently is greater than ever. DWF and its Legal Operations team are doing just that.