The Journey to digital in professional services
At Neota Logic we believe that all professionals will have the opportunity to transform their services to digital in the coming years.
With over 10 years of experience working with professionals around the globe, we see the journey to digital professional services developing in a number of stages.
- Automation – initially, only some aspects of professional services will be automated (e.g. matter intake and analysis apps, contract entity extraction and online research tools). Although these apps will improve the quality and efficiency of today’s services, they will not alter the nature of the service, nor the relationship between the professional and their client.
- Digital – this is where applications start to connect the client and the professional, creating new revenue opportunities for the professional and improved experiences for clients. Yet while these apps transform the experience of the end user, they are largely still designed around the event or issue-led delivery model.
- Algorithmic – the third and final wave of applications will address this paradigm change. Apps that move legal, tax, accounting and other professional services from being event or issue-led and reactive to becoming permanent and preventative. Some examples of this already exist in RegTech systems built in Neota. e.g. monitoring real-time trading patterns and flagging pre-settlement issues for compliance.
This is our vision for professional services. A world where services are algorithmic and client experiences ambient. This is the vision we at Neota Logic believe in and are working with our clients every day to make happen.