Sadly, few law firms have even started on the first step of the digital transformation that Lee Bryant outlines. On the other hand, some of the new entrants to the market have built this into their business model.
When will firms wake up to the need to look beyond what everyone else is already doing? Can they even do that?
Digital transformation began with organisations trying to develop the external customer-facing social capabilities to operate in a world of empowered and connected consumers, but there is now a realisation that to deliver on this promise, the internal realm – how work is organised and how people connect to deliver value – is equally important. But if we are able to improve the way we work internally and externally, and for both sides to be driven by digital capabilities, then a third area of transformation opens up, which is business model innovation. New products and services, and new ways of capturing value, become possible when the organisation is no longer over-optimised for the past.