Magnusson and LEX247 were nominated at the 2018 Legal Week Innovation awards, one of the legal industry’s most prestigious awards and made it to the finalists in the International Law Firm Innovation category.
This recognition was due to Magnusson’s initiative of moving their IT operations to the cloud. Anna and Agnieszka, a Magnusson partner, discuss how implementing LEX247 helped Magnusson achieve this digital transformation and how the future of legal innovation may look like.
Agnieszka highlights the difficulties and inconveniences during the pre‑LEX247 era with timekeeping, billing and invoicing. Previous workflows resulted in data being scattered around various systems, including paper-based systems, which led to a loss of productivity, inefficiency and unnecessary admin work.
Magnusson started searching for a better solution and discovered that none of the existing market vendors met the demands of an international law firm, said Agnieszka.
During this period, she continues, Magnusson came across LEX247, who were building a next generation practice management platform. Magnusson partnered with LEX247 and became the first international law firm to join the company’s pilot program.
Agnieszka states in the interview that with LEX247’s cloud based platform, Magnusson achieved a complete digitalization of their legal workflow, from client intake to final invoicing, including country specific accounting integrations.
Implementation of LEX247 was not without a lot of internal debate as it was a major shift in how things used to get done. However, when it was finally launched across the firm, lawyers at Magnusson quickly became familiar with the functionality as the interface is very user friendly, she says.
Agnieszka states that offering the latest laptop and smartphone to new hires is no longer enough for attracting top talent to the firm, you have to be able to offer a modern work environment. With LEX247 lawyers can now perform their tasks on the go and achieve a better work-life balance. She also highlights that as a partner she can now track her matters in real time and receive actionable data and analytics, instead of a summary at the end of the month.
As a modern system, LEX247 integrates with other cloud eco-systems such as Microsoft’s Azure Directory for best-in-class secure authentication, Office 365 for Document Management, Power BI for real time analytics dashboards and Skype for Business for conferencing, which has been an integral factor in Magnusson’s successful cloud strategy, Agnieszka mentions.
She continues to say that instead of flying to the client for a meeting we now can connect using Skype for Business, which reduces overhead time surrounding traveling and also makes the client happy when they receive their bill.
Integrating Power BI enables Magnusson to dig even deeper on data analytics and gain valuable insights with live dashboards, in a way that was not previously possible.
By digitalizing their entire legal workflow with LEX247, Magnusson streamlined their daily operations, reduced administrative work, and increased efficiency and productivity for every role within their firm.
The robust built in rights management of LEX247, enables associates, assistants, general staff, partners and more to collaborate and perform their designated tasks efficiently and effectively.
LEX247 is built to scale and perfectly fits the needs of international law firms, offers functionalities that enable smooth cross-border collaboration for all of Magnusson’s international offices and enables them to work as one law firm for the first time.
The platform’s cross-border functionalities, such as automated conflict of interest checks, integrated document management, automatic currency conversions and unified invoicing help legal teams focus on offering better services rather than cumbersome administrative work.
With LEX247 the Magnusson team is performing better than ever, attracting top talent, capturing more time and billing clients on time.