Robotic Process Automation (RPA) and the Legal Sector
Legal Processes are often repetitive, time-consuming and prone to human error. That’s a fact. So why not get a Bot to do them? A Bot is efficient, accurate and reliable, the trifecta of desirable traits when dealing with processes of any nature. Moreover, the legal sector is facing pressure to keep up with the growing demands for quicker service provision at lower costs, creating the perfect entry for RPA. RPA in the legal sector has already demonstrated how costs can be cut by 20 – 40 percent whilst reducing human error and increasing compliance. A London-based law firm has reduced a due diligence process from 3.5 hours to 7 minutes by adding a Bot to its workforce. Impressive, I know.
Let’s break down why you should already be looking to RPA to deliver competitive edge.
Cost Reduction: RPA Bots reduce costs by processing at a faster and more accurate pace than any human can. This is especially the case for the legal sector; a sector flush with processes that are perfect for automating.
Efficiency: 63% of in-house legal work is repeatable, fact-based decision making that requires no human judgement or interpretation. Save time by having a Bot complete this work and free legal professionals to focus on more meaningful tasks. It’s a simple way to increase efficiencies through productivity gains.
Accuracy: Legal processes are dependent on accuracy. A small error can lead to major consequences. In 2020, a mistake when drafting a contract cost a leading London Law firm £2 million. That’s not a paltry sum! RPA Bots don’t make those kinds of errors. Once the instructions are set, the Bot will carry them out the same way every time. 100% accuracy – EVERY time.
Compatibility: RPA is compatible with pre-existing applications that exist in the market, allowing a seamless introduction of RPA into your business. As a non-invasive technology, there’s no stress involved in automating even the most complex of processes.
Billability: The use of RPA reduces the hours legal professionals spend on document processing and research, thus allowing more time to spend with clients ergo more billable hours. Clients benefit also; paying for time with legal professionals rather than back office tasks or administration.
Confidentiality: RPA Bots don’t store information. Bots perform the process and that’s it. The use of a Bot can further ensure that confidential information is distributed on a need-to-see basis only.
So, if you’ve got this far and you’re still not convinced that RPA and the legal sector are a matchmade in heaven, I don’t know what else to tell you.
The proof is in the potential.