New Survey Report from Wolters Kluwer Examines Impacts of the COVID Crisis on the Legal Sector
The disruption caused by the global pandemic of 2020 is impacting law firms already, with legal professionals taking action, and also projecting and planning for changes to come. With no clear end to the crisis in sight, however, many legal professionals are faced with uncertainty as they deal with the challenges of ensuring business continuity today and building business resiliency for the future.
In June, Wolters Kluwer issued the survey − Impact of the COVID Crisis on the Legal Sector − to assess how the crisis has affected legal professionals in Europe today, and what the implications are for law firms over the next year. The survey includes insights from 1,866 legal professionals in law firms across 10 European countries and examines impacts on business; cost management; ways of working; and technology and investment.
- 31% of law firms say it is too early to assess their business outlook for the next year;
- Legal professionals expect to work increasingly in a virtual environment, with the majority saying they will increasingly collaborate remotely with colleagues and third parties ahead (62%); improve
- the way they virtually/digitally communicate with clients (66%);
- 56% of law firms report that their need for legal technology solutions has increased as a result of the crisis;
- 66% report that their investment in legal solutions will stay the same or increase moving ahead.
For more findings, download Wolters Kluwer’s Impact of the COVID Crisis on the Legal Sector Survey Report.