Small and medium UK businesses, including small law firms, are being held back post-pandemic by a reluctance to adopt new technologies, experts have warned.
The pandemic has brought about a significant shift in the business landscape, and the SME sector, and indeed legal sector, have not been immune to these changes.
Experts from TelephoneSystems.Cloud have warned that the future of many SMEs is at risk after the pandemic accelerated technological change across the wider business sector.
Fear of change and reliance on outdated systems
Those failing to evolve with the digital landscape are losing out on valuable business because of their fear of change and reliance on outdated systems.
Communications experts say that fear of new technology is still deeply rooted in many leaders who are deterred by a lack of in-house tech knowledge and resistance to intimidating change.
Improvements in operations, efficiency, and profitability with modern technology
Juliet Moran, from TelephoneSystems.Cloud said: “Technology may seem scary, but decisions should never be based on what leaders are comfortable with.
“Rather, the decision to change should be based on what will most benefit a company, aka the effectiveness of a system for operations, efficiency, and profitability.
“The business owners that have seen earlier technological opportunities have had the advantage of accessible and streamlined systems and are now taking huge strides in the post covid climate.
“It can be used for many benefits, including expanding customer base, improving internal and external services, minimising admin, optimising markets, and streamlining communication threads.
“new technology has been proven to revolutionise business operations”
“There was once a time when people only shopped on the high street and watched films on video cassettes, but with time these industries have transformed, and the companies that didn’t adapt and embrace the change were left behind.
“This will be the case for SMEs failing to keep up because new technology has been proven to revolutionise business operations.
“Being on the wrong side of the digital divide will only continue to have negative implications for businesses as success continues to balance on their ability to modernise.”
The business world drastically changed during the pandemic and traditional working methods were questioned more than ever when lockdowns left millions without sufficient technology or software to work away from the office.
Need for a tech investment strategy for SMEs in the UK
Recent research has revealed that 48% of SME leaders in the UK still lack a tech investment strategy. Meanwhile, over 50% of small and medium-sized enterprises have accelerated their digital transformation since the pandemic, and those failing to adapt are now falling behind.
The success of markets like cloud computing since the pandemic has demonstrated that technology can be used within businesses to reduce costs while improving overall efficiency and productivity.
The cloud market is estimated to have reached almost 400 billion pounds worldwide in 2022 as more businesses realised these technologies make work easier and more cost-effective, not harder, and more expensive.
In spite of this, there are still myths within traditional workplaces that concepts like “cloud computing” is too complex, and they’d rather stick to what they know best. Fear of change and a lack of technical knowledge is now incredibly destructive for a business.
The need for businesses to embrace the idea of continual change and innovation
Without innovating with technology, UK businesses will fall behind. Finding technology partners that can help assist with the continual change can be really helpful for the SME business.
It is important to understand that today, nothing is static with technology. Businesses need to embrace the idea of continual change and innovation, overcome fear, and build it into their way of working.
To find out more about new communications technology for small and medium businesses you can visit: https://telephonesystems.
Law firms at risk of being left behind if they fail to embrace legal tech innovations
However, it’s not just SMEs that risk falling behind due to a reluctance to adopt new technologies. Law firms, too, are at risk of being left behind if they fail to embrace legal tech innovations.
As Gavin Ward, Client Services Director at Moore Legal Technology and Founder of WardBlawg notes, “Historically, the legal sector has been one of the last to embrace new technologies; however, this is rapidly beginning to change. Law firms who do not embrace new developments in legal technology, such as AI-powered contract review, e-discovery software, and document automation software, in addition to better online marketing, run the danger of falling behind their more tech-savvy competitors in the marketplace.
Legal technology has the potential to offer major benefits to law firms, including higher productivity, decreased expenses, and enhanced quality of service to clients. Legal practices that do not integrate new technologies run the risk of slipping behind their competitors in terms of productivity, profitability, and the satisfaction of their clients.
In the same way that technology gurus are urging small and medium-sized businesses (SMEs) to get over their fear of new technology and embrace it, legal services providers need to do the same. Legal technology and technology in general are no longer a luxury; rather, they are a requirement for law firms that wish to maintain their competitive edge in a world that is becoming increasingly driven by technology.”
Legal Sector Tech Suppliers
And for further legal tech suppliers focused on the legal sector, you could consider Artificial Intelligence (AI) Software Providers for Law Firms in addition to Legal Software and Case Management Providers, more specialist Contract Management & Analysis Software Providers for Law Firms or even general Law Firm Consultants too and also Law Firm Marketing Agencies who can also help modernise your firm from a legal marketing perspective.
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