In order to respond to a rapidly shifting business climate, as well as deliver solutions that are tuned to the needs of your firm as a whole, your IT strategy needs to be closely aligned to your business strategy.
Investment in IT is necessary for forward-thinking law firms looking to succeed in today’s market. However, the value of IT is often underappreciated and seen as just another overhead by senior management.
It’s therefore important to understand how to write a convincing business case that helps decision makers understand why IT investments are necessary and the potential impact on the firm’s ability to compete.
Here are four steps to writing a successful business case.
Back in November, a study showed that more than half of claimant PI law firms will be forced to shut down or look for other work if the government’s proposed reforms go through1. Since then, the reforms have been dropped, before being put back on the agenda in June as part of the new Civil Liability Bill.
A recent study showed that three-quarters of law firms expect half of their IT systems to be cloud-based or a managed service within the next five years. This shift to the cloud has been predicted by the industry for a number of years but it’s only recently that momentum has really picked up.
Law firm managers are well versed in carrying out risk assessments to justify and make decisions around IT spend. However, from May next year, risk assessments become more complex when the GDPR comes into force.
There’s been an exponential increase in the number of ransomware attacks, from nearly 4 million attempts in 2015 to 638 million in 2016. A recent survey showed that 54% of UK companies now admit to falling victim, with law firms a key target.
Law firms hold a wealth of sensitive information, all of which will be subject to the General Data Protection Regulation (GDPR).
Specifically, Article 5 of the GDPR requires that personal data shall be:
“processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures.”
Social Media – there’s no escaping it in today’s workplace. Facebook, Twitter, LinkedIn and a whole host of other platforms are now just part of the fabric of our day-to-day business lives.
You’ve heard about Ransomware. A hacker infiltrates your IT systems, locking them down until you pay a ransom. Some studies now estimate that over 50% of businesses have experienced this type of attack in the last year, and it’s particularly prevalent within the legal sector.
Law firms hold a wealth of valuable client data and funds, all of which make them a very attractive target for criminals. As the number of cyber-attacks increases, firms are increasingly at risk of a breach. And it isn't just cyber-crime that can result in data being lost or compromised. There's the risk of physical damage to servers, lost equipment that's not adequately protected and even human error which could cause system disruption and failure.