Anthony Seale, founder and CEO of Legatics. Courtesy photo How Do You Calculate the ROI of Legal Technology?
Having built and developed a transaction-management platform for a broad range of law firms, my team and I have witnessed significant changes in what firms are looking for from the adoption of legal technology.
January 12, 2023 at 10:32 AM
6 minute read
There has been much debate about how we can begin to measure return on investment (ROI) in legal technology, but the following, relatively standard, set of metrics and ROI goals have traditionally been used:
|- added revenue
- saved costs
- saved time
- speed of deployment
However, having built and developed a transaction-management platform for a broad range of law firms, my team and I have witnessed significant changes in what firms are looking for from the adoption of legal technology. Since 2015, we have seen a shift across different ROI goals, from the desire for technology leadership in the early days, to improving staff retention in recent years.
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