One of the few silver linings of the 2008 financial crisis was that many lawyers were shocked into budget consciousness. Seemingly overnight, lawyers became willing to reassess old assumptions. Maybe they could live without personal copies of treatises. Maybe they would try online resources that they had resisted. The crisis has passed but the changed legal market place remains. Law firms that want to invest in new technologies must subsidize those investments with lean budget practices that continuously reassess all ongoing costs. No product is a “slam dunk” for annual renewal in 2019 without some “due diligence.”
Here are some tips to help your “harvest” saving which can be reinvested in “nextgen” resources.
Focus on ROI. Products such as Research Monitor and Onelog can provide invaluable insights into the number of lawyers who actually use web-based products. Products are often maintained based on
Continue Reading It’s Budget Time! 12 Timely Tips to Help Manage Law Firm Costs