Law Firms are Increasing IT Spending
While law firms are seeing growth, it seems IT projects are the real focus. According to surveys conducted by PwC:
- 82% of UK law firms reported growth in 2015.
- 95% of UK firms reported plans to undertake major IT projects in the coming year to improve efficiency.
- 97% of US firms have reported a greater IT budget this year compared to last.
- 80% of those surveyed believe they “need to respond to the digital age”.
As the economy continues to improve, law firms are willing to spend in order to keep up with evolving technology. However, some firms are having to make operational changes just to keep up with the newest technology since they do not have capabilities in place to do so. Security also remains a priority since 62% of UK firms were affected by a security incident. Keeping up with technology and increasing interaction with clients seems to be the main focus of law firms going into 2016.
Source: Legaltech news