From the Betamax to MiniDiscs (remember those?), the Sega Dreamcast to Google Glass, the history of technology is littered with examples of technologies that have fallen short and fallen by the wayside. Each one of these examples offers their own individual lesson in business – from failed marketing campaigns to poor product design, weak business resilience to corporate shortsightedness.
In many cases a technology can simply fail due to bad timing and bad luck. Take the HP TouchPad, for example. A tablet device with genuine qualities that just happened to be launched at a time when the iPad juggernaut was gathering pace and steamrollered all competitors in its way.
There are, however, a few technologies that stand out from the crowd; those that overcome a rocky start to become an influential force in the digital world, not only gaining popularity in their own right but also shaping the innovations of others.
In 2016, there are few people who would argue that cloud computing has become just such a technology.
Cloud computing has not only facilitated the launch of a range of new tech businesses, it has also been the catalyst for a complete revolution in the way that enterprises are able to function. Everything from book-keeping to business continuity strategies now revolve around ‘the cloud’.
More and more of us are able to work from home because of the real-time remote access provided by cloud software. We no longer need to work from one location, reliant on one hard drive or server that has to be backed up and securely stored on a daily basis. And even better, we can simply roll out of bed into the home office and avoid that tortuous commute to work.
Think about that: a technological advancement that not only makes workflows more efficient but improves the work–life balance and saves the environment through reduced carbon emissions!
For those of you who are less familiar with this phenomenon: cloud computing is the storing and accessing of data and programs through the Internet rather than hard drives. On the face of it, this doesn’t sound all that tremendous, but the flexibility, versatility, efficiency and security that the cloud offers cannot be overstated. Indeed, it is the foundation for our own real-time comparison platform at The Law Superstore.
The cloud is not only leading to business improvements but is actually overhauling the whole infrastructure of businesses. In particular, small, lean and agile businesses are now able to attain the same level of security, infrastructure and business cohesiveness as a larger organisation without the financial outlay that would have been required a decade ago. This is because tools such as Dropbox offer incredibly affordable pricing structures based on the number of ‘users’ affiliated with an account.
Why should you be happy to have your head in the cloud?
The cloud cuts down on resources, support costs, implementation charges, reliability problems and barely average functionality. The truth is that digital technologies are now being built to achieve what entire departments used to be resourced to achieve. They are customisable, versatile and cost effective – doing what you want, when you want it, wherever you want to do it for small fees that can be endlessly measured and costed out.
Built on the back of cloud computing, The Law Superstore is about empowerment, enhanced functionality and integration. It offers transparency and accountability to both our partner firms and the clients we serve.
If tech commentators are to be believed, the next 3 to 5 years will see all businesses move their IT estate to the cloud. And cloud-based services will offer the legal profession, like many other industries, myriad opportunities.
As I have said in a number of posts, I find it hard to disagree with the Competition and Markets Authority and Legal Services Board when they predict significant changes and a need to adapt in the coming years. With new market entrants who are agile, hungry and experimental, there is a very real danger to those firms that are risk averse will struggle to stay relevant and able to deal with client expectations in the future.
In a recent Legal Futures article it was stated:
“Law is a rapidly changing and competitive industry and it is no secret that it will be about survival of the fittest in the coming years. It’s not so much about size any more – recent news stories have told us that even the largest are vulnerable . . . after all, if your costs to complete a transaction are considerably less than the next firm and your clients’ experience is dramatically improved, why can’t you be one of the fittest?”
At The Law Superstore we believe that our platform will play an important part of this dramatic improvement. We are doing our bit to ensure that the legal profession stays relevant for years to come – and we look forward to working with legal service providers who are ready to embrace this dynamic and exciting new era.
To discover more about The Law Superstore, visit our site now www.thelawsuperstore.co.uk
This article was first posted on LinkedIn