October 05, 2021
Back

The 'Case' for Law Firm IT Administrative Tracking | Legaltech News - Law.com

Business partnership coworkers using a tablet to analysis graph company financial budget report and cost work progress and planning for future in office room.
Credit: wutzkoh/Adobe Stock.

Technology is not the core business of law firms, but its role in empowering and enhancing law firm operations is increasing at a significant rate. More specifically, an oft-cited Gartner study of legal technology spend from Q1 2021 forecasted a threefold increase by 2025, with corporate law department tech spending exploding from three to twelve percent in the same epoch.

The lion’s share of the buzz in tech relates not to administrative spend, but areas like the cloud, AI, BI, workflow, no/low code, and other burgeoning technologies. But, not unlike an offensive lineman in football, there’s a pressing need for “below the radar” functions like asset management and financial tracking within legal technology. And these needs will increase in importance as the forecasted spend uptick comes to fruition.

Want to continue reading?
Become an ALM Digital Reader for Free!

Benefits of a Digital Membership

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

Already have an account? Sign In Now

*May exclude premium content



source: https://www.law.com/legaltechnews/2021/10/05/the-case-for-law-firm-it-administrative-tracking/

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.