As a leading professional IT service provider, Taylor Made Computer Solutions are all too aware of the importance of ensuring IT infrastructures are not only able to support business, but enable business growth. What’s more, when considering the legal sector, the importance of investment in your IT infrastructure becomes even more pronounced – this blog explains why.
Firstly, without a reliable, robust, and resilient infrastructure, your firm may be faced with challenges that make it difficult to remain competitive. The reason for this is simple, you will need better and newer technology in order to both reduce costs and increase productivity.
There is also the consideration of future proofing; upgrades to your infrastructure pave the way for future technology improvements, enabling your staff to leverage more sophisticated legal project management and business intelligence tools. What’s more, actively investing in your infrastructure will invariably increase your staff’s ability to use mobile devices, enhance the security of your data, and expand your data storage capacity. All of these factors naturally contribute to higher revenue and profits – the bedrock of any firm.
A Unique Opportunity
The potential becoming a much more competitively positioned, profitable firm is also bolstered by the general unwillingness of law firms to invest adequately in IT infrastructures. For instance, consider that the average top UK law firm spends 4.1% of revenue on IT – some 2-3% lower than other business sectors, including education, media and entertainment, as well as banking and financial services. This presents your firm with a unique opportunity to create another competitive advantage – an infrastructure that will support and help propel your firm forward, not hinder it. Here is a great opportunity for your firm to get ahead of the technological curve.
In fact, this sentiment is shared by NatWest, who speaking on the economy of small to medium-sized law firms in the UK, concluded: “Firms must invest in IT and knowledge systems consistently, so that their fee earners can produce more in a day than they would otherwise. Such investment should be designed to improve quality, reduce risk, and increase efficiency. The firms that have invested wisely in this way do not need as many fee earners to achieve the same level of fee income as other firms.”
Whilst this blog briefly explores the benefits available to law firms through increased investment in IT infrastructures, there are a whole host of other advantages your firm can benefit from through making an active effort to boost overall IT performance.
To help you get started on implementing these changes, we have created an in-depth guide, outlining ten crucial considerations for every law firm to make in optimising their overall IT performance – to access this guide and learn how to leverage the efficiencies of new technology, click HERE