Technology for small firms

Small firms can now afford technology that was only previously available to mega-firms.

But you need to have a strategy. And don't forget that the cost of installing and maintaining new software can be up to 4 times what it cost you to buy it.

So the ABA Law Practice Magazine feature on Pointers and predictions for solos and small firms is worth looking at.

Some key points:

• A good rule of thumb is to budget an annual dollar value for new purchases that is one-third of the total technology cost. This includes such items as hardware, software (upgrades if needed), maintenance and support, subscription renewals, communications expenses and any third-party-provided service such as e-mail or anti-spam filtration.
• have a hardheaded approach to how technology can reduce costs
• Continuously analyze work flow to see where the bottlenecks lie.
• tech knowledge and tech investment are mandatory and an intrinsic part of substantive and procedural law practice today.