Our findings suggest that executives are taking note: most respondents recognize technology’s strategic importance as a critical component of the business, not just a source of cost efficiencies. To stay competitive in this new business and economic environment requires new strategies and practices. In fact, when we asked executives about the impact of the crisis on a range of measures, they say that funding for digital initiatives has increased more than anything else-more than increases in costs, the number of people in technology roles, and the number of customers. What’s more, respondents expect most of these changes to be long lasting and are already making the kinds of investments that all but ensure they will stick. Nearly all respondents say that their companies have stood up at least temporary solutions to meet many of the new demands on them, and much more quickly than they had thought possible before the crisis. The acceleration time frame was calculated from the amount of time it would have taken to reach the current level of digital adoption respondents report if the precrisis pace of change had continued. Based on the average percentage of adoption in each survey, we calculated a trendline to represent the average rate of adoption in 2017, 2018, and just before the crisis, which respondents were asked about in the 2020 survey. We looked at the past results for the degree of digital adoption reported in each of these areas of business operations. And the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years. Their companies have accelerated the digitization of their customer and supply-chain interactions and of their internal operations by three to four years.
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The online survey was in the field from July 7 to July 31, 2020, and garnered responses from 899 C-level executives and senior managers representing the full range of regions, industries, company sizes, and functional specialties. According to a new McKinsey Global Survey of executives, 1 Twickenham.In just a few months’ time, the COVID-19 crisis has brought about years of change in the way companies in all sectors and regions do business. Head Office Address: LEAP Legal Software, Level 1, Regal House, 70 London Road.
To see LEAP and discover all the benefits that it can bring to your law firm visit our website and book a free, no obligation demo today. This investment in new technology ensures your law firms has access to the same technological advantages as larger law firms. LEAP invests more than £12 million a year into research and development aimed solely at refining the product. LEAP allows you to run your entire law firm from one application, eliminating the mess, confusion and risk that comes with using multiple programs and databases for different areas of practice or parts of the business.
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Complete mobility so you can manage your matters from anywhere, at any time on any device or web browser.Access to the same real-time matter and client information as your colleagues when working remotely.A library of over 5800 up-to-date legal forms and precedents, highly automated for accuracy and ease of production.LEAP continually invests into the ongoing research and development of its many productivity tools that allow your legal practice to manage matters with ease, providing: Developed for small to medium sized law firms LEAP’s powerful features allow your practice to manage matters more efficiently and profitably from anywhere, anytime and from any device, accessing ‘real-time’ matter and client information on the move. LEAP is a cloud-based practice management system with integrated time recording, billing and client accounting.
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