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Clients Are Spending More on Legal Tech: Can Smaller Firms Keep Up?

Attorney at Work

Related: “8 Legal Practice Areas Growing in 2021 and Beyond” Document automation levels up. Legal tech meets fintech. The wide acceptance of electronic payment methods in e-commerce is expanding rapidly across all segments of the economy, and the legal industry is no exception.

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Highlights from the 2023 Legal Trends for Mid-Sized Law Firms Report

Clio

However, they recovered in 2021 and even increased their casework beyond pre-pandemic levels. For example, while mid-sized firms’ utilization rates (the number of hours put toward billable work as measured against an eight-hour workday) climbed slowly from 2019 to 2021, they dropped in 2022.

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Highlights from the 2023 Legal Trends for Mid-Sized Law Firms Report

Clio

However, they recovered in 2021 and even increased their casework beyond pre-pandemic levels. For example, while mid-sized firms’ utilization rates (the number of hours put toward billable work as measured against an eight-hour workday) climbed slowly from 2019 to 2021, they dropped in 2022.