Balancing technology needs with budget realities can be tricky.  Seventy percent of attendees surveyed at the 15th Annual Law Firm COO-CFO Forum produced by the Legal Executive Institute said they consider technology to be a strategic differentiator for their firm.  But most also agreed on the importance of prioritizing and the need to sort out the “must-have” items from the “nice-to-have” items.

COOs and CFOs in attendance were asked to rank their current top IT priorities, other than cybersecurity.

  • Information governance    33%
  • Infrastructure                     27%
    (servers, data centers, etc.)
  • Knowledge management   27%
  • Client collaboration            12%
  • Staffing & retention            2%

The number one priority is information governance — not only having the right technology infrastructure in place, but making sure it is integrated with the firm’s other systems, and accompanied by appropriate policies.  Infrastructure tied with knowledge management for second, including discussion about how quickly to move applications and storage to Cloud-based systems.

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