At A Glance

30%

Increase in Operational Efficiency

25%

Increase in Productivity

40%

Reduction in Cybersecurity Incidents

Are you struggling to maximize the ROI of your legal tech investments? You’re not alone. We understand the challenges and are here to help. We’ve been closely following the recent shifts in the legal tech landscape, as highlighted in the insightful article “Experimentation Period Over: Law Firms Want Practical Tech That Solves Real Problems” on LegalTech News.

Navigating Economic Pressures: The ROI-Centric Approach to Legal Tech

Law firms are becoming more discerning in their tech choices due to economic pressures and the need for proven ROI. This shift is leading to a focus on essential upgrades and tools that solve core business problems.  

User Experience (UX): A Game-Changer in Tech Adoption

The user experience of legal tech tools is becoming a critical factor in purchasing decisions. Law firms are seeking tools that are easy to use and offer a seamless user experience to aid in adoption.

In-House Expertise: The Rising Need for Internal Tech Roles

The article suggests that law firms may need to rethink their staffing, with a focus on building internal teams of technology, change management, and data talent to ensure successful deployment and enterprise adoption of tech tools.

While we agree with the author’s and industry experts’ feedback regarding the need to focus on ROI, we believe a critical and often overlooked measure is the total cost of ownership (TCO). With a threefold increase in legal technology budgets expected by 2025 according to business insights firm, Gartner, investments made based on ROI alone have proven to have costly consequences for law firms.  

As law firms ramp up their technology spending, it's crucial to remember that successful outcomes hinge on a multifaceted approach. Objective research and careful selection of solutions that align with the firm's short and long-term needs are paramount. 

Equally important is a comprehensive understanding of the total cost of ownership, which encapsulates all costs associated with a solution over its anticipated use life at the firm. Guiding this process should be informed, knowledgeable expertise that is free from personal financial incentives. In other words, the path to successful technology investment isn’t through resellers, whose advice might be clouded by their own financial interests. Instead, it lies in unbiased, expert guidance that prioritizes the firm’s unique needs and circumstances.

Instead, law firms should consider engaging with credible, objective management consultancies, such as P&C Global. We provide unbiased advice, focusing solely on the client's needs and the best solutions to meet them.

Success Stories

The P&C Global Approach

To illustrate this approach, let’s consider the circumstances and situational needs facing a few of our clients in recently completed engagements:

Conclusion

The Strategic Approach to Legal Tech ROI​

In conclusion, when it comes to technology acquisition and implementation, law firms need to adopt a strategic, long-term perspective. They need to focus on total cost of ownership, seek objective advice, and be aware of the potential conflicts of interest that can arise when working with VARs. 

By doing so, they can ensure that they choose and implement legal technology solutions that truly meet their needs and deliver the expected benefits.

Don’t let your legal tech investments go to waste. Contact P&C Global today and let us help you unlock the true ROI of your technology.

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