This is the fourth in a series on practical, low-cost options to improve performance and profits amid tight budgets and layoffs. The first piece, on collections, can be found here, the second, on practice management techniques, can be found here, and the third, on optimizing firm performance. can be found here.
In a recent report from the Legal Pricing & Project Management Survey, 72% of corporate law departments say, “law firms are [not] leveraging technology to deliver legal services efficiently and cost-effectively.” This statistic is maddening for any firm leader, firm IT professional, and attorneys who spent time, money, and resources on any recent technology initiative. Additionally, there was a 14% decrease in law firm professionals who think their firm is “leveraging technology to deliver legal services more efficiently and cost-effectively.” So, law firms are not getting what they expect out of their existing technology stack, choosing the wrong solutions, or not acting fast enough for client needs.
