By Brad Newton, vice president, Australia and New Zealand, DocuSign
Transforming the complex, high-cost knowledge based legal industry may seem a daunting initiative but like any change, if there is internal desire, it can be a much more seamless experience. I believe the legal industry has reached its tipping point as right now, Millennials are swelling amongst the senior legal ranks and there is a real changing of the guard.
Last week one of our clients, Colin Biggers & Paisley, provided their perspective on this same experience. Speaking to Lawyers Weekly about their implementation of DocuSign‘s digital transaction management technology, CBP partner Mark Morgan explained that until recently, the legal industry “…has been predominantly managed by an older generation who were in high school before we had decimal currency and matriculated before we had metric measurements.”
Law firms have traditionally been paper based organisations; producing massive volumes of legal documents, each page needing to be cross checked and signed by teams of paralegals. Until recently, these arduous processes have been necessary in order to meet strict legal requirements. But now, with the introduction of cloud based documents and secure, legally binding digital signatures, law firms finally have the opportunity to do away with paper and run their business digitally.
For this new generation of management, cloud based technologies such as DocuSign’s digital transaction management isn’t such a foreign concept – its second nature. And with these tech-savvy, younger generations at the helm, it’s certainly an exciting time to be in the legal business.