Tuesday, October 26, 2004

Methodology for evaluating new technology investments in law firms

The article "Purchasing New Technology: Evaluating the Impact on Your Firm" is a clear and straightforward article which clearly speaks to four important issues related to new technology investments. The points are:

  • How much does this project cost and how will it impact a firm's financials (and, the article points out that either of the following might be financial benefits: 1) expected expansion in revenues, 2) reduction in external costs, 3) improvement in productivity).
  • How will this project improve office productivity?
  • Will this project allow the office to do provide legal services in areas they could not service before, or other services which can not be done now?
  • How will this project improve quality within the office or the quality of the services I provide to my clients?

These questions, or other similar questions identifying both the cost and value of an IT project, should always be asked to ensure the project will deliver value to a law firm.

The full text of the article is available by clicking here.