Starting a small law practice might be intimidating, but it has clear advantages. Small firms and are free to practice their preferred areas of law and determine their own casework, outside the cutthroat world of large corporate firms. And while that freedom doesn’t bring entrepreneurial attorneys the guaranteed paychecks of their big firm counterparts, many small and solo practices are profiting handsomely by embracing efficiency innovations, such as RightSignature online document signing—a full-featured electronic signature solution for law firms.
Isaul Verdin, owner and managing attorney of Verdin Law, is one such small firm success story, and was recently profiled in the American Bar Association publication Law Technology Today. Head of an immigration law practice based in Dallas, TX, he names as a key factor in his firm’s growth their embrace of the latest online software tools, with RightSignature at the top of the list:
We have had revenue growth that has succeeded 100% for the last 3 years, back-to-back. We have seen profit margins in the order of 40%, which is gold standard for major firms, and most firms, especially firms of our size, do not see that level of profitability. Tech has reduced our overhead and increased our revenues... We’ve become dominant players in this immigration practice because of our use of the latest technology tools, and RightSignature is front and center in that initiative."
How does RightSignature help a small but savvy law firm become dominant players in a specialty field? Here’s the step-by-step guide to Verdin’s success.
Electronic Signatures for Law Firms: Using RightSignature to Onboard Clients
RightSignature puts your document signature requests into overdrive with simple, intuitive electronic signature software, which lets you send documents securely to clients anywhere in the world through a simple web interface. Then, your clients can fill out and sign your document online with their own hand-drawn electronic signatures and send it back instantly. Confidentiality Agreements, Retainer Agreements, and any other documents you need can be signed and in your hands in hours or minutes, rather than days or weeks. Said Verdin, “Less time spent on one client means we can service more clients more quickly, and bring more revenue into the firm, as well.”
For Verdin Law, online document signing also expands the geographic range of clients they’re able to represent. Says Verdin, “Pushing paper around is inefficient when you’re working with a client across town, and a complete non-starter when the client is in another country. As a result, we were forced to figure out ways to use tech.”
Go Paperless, Get Productive, Get With the Times
The internet has already greatly reduced the amount of paperwork and printing expenses most law firms are saddled with. Casework research, investigation, filing briefs, and even inter-office memos have all moved online to make life faster, cheaper, and easier. For Verdin, adding electronic signatures to his law firm was the obvious endpoint in an ongoing paperless initiative:
Immigration is a document-heavy practice. It’s very administrative in nature, dealing with government documents, with packets of paperwork inches thick. With our use of online software, we’re able to coordinate with the client to expedite the processing timeline. Used to be, we’d go back and forth with mail, or people coming into the office. We’d waste a lot of time. Now that we’ve gone paperless, we’ve reduced our processing time. People are happier, we’re happier, and it’s good for the bottom line, too.
“In 2010, when I pushed to put the practice online and eliminated paper substantially, there were few practices doing this. Vendors were actually surprised they were dealing with a law firm interested in their product. Our peers were surprised, too. They had no idea what we were doing at first, but over the last couple years it’s definitely becoming the trend.”
RightSignature Online Document Signing Integrates into Your Online Software Workflow
The advantages of incorporating a full suite of electronic software only increase as you add more, as the most successful online software systems are connected to other services through integrations, which make it easy to securely pull information like a document or contact details from one system to the next. For example, by integrating Box online storage with RightSignature online document signing, Verdin can store his retainer agreement document in Box and access it directly from within RightSignature to easily request electronic signatures. Or, more accurately, his staff can. Said Verdin, “My administrator has everything set up so I just need to open the document, sign here, and it goes straight to the client.”
These services are just a few of the dozens that RightSignature integrates with. For example, RightSignature also offers a full-featured integration with Clio, the law practice and legal case management software suite that can easily tackle time tracking, billing, and document collaboration for small and medium sized firms. Whatever tools your practice uses, RightSignature makes it easy to use them together for maximum productivity.