We realize that many of you are reading the title of this column and saying to yourself, “What annual technology review?” You belong to a big club. But if you are not doing an annual technology review, you are not serving your law firm well. So, let’s start with the threshold question ...
Why Do Law Firms Need an Annual Technology Review?
You may have noticed that keeping up with technology is next to impossible. We each read an average of two hours a day, and we still can’t keep up. The best advice is to be pragmatic and recognize that if you assess your technology once a year, including your cybersecurity, you’re doing much better than the average firm.
One very good reason to do an annual technology review is to control your technology budget. If you fail to review your technology costs each year and plan for an annual budget, you are very likely on your way to a “big bang” expenditure caused by your failure to plan. No law firm enjoys an abrupt and large depletion of its funds.