Making the Business Case for Going Digital: 360 Degrees of ROI
Conventional law firm paper records systems are not sustainable in today’s legal market. More law firms are getting serious about paperless office solutions, for a variety of return on investment (ROI) reasons. The cost, risk, and inefficiencies of paper records are severe business burdens to the practice of law. Removing paper from the document management process improves the speed and quality of service delivery. Aligning a law firm’s paper-to-digital initiative to specific payback targets brings clarity to the return on investment and allows for usage of the 360-degree ROI model.
A formal ROI process, supported by detailed spreadsheets of financial affirmation, is rarely the basis for a law firm moving forward with a paperless office solution. Rather, a long list of obvious payback benefits is cited. The firm begins a project to drive through a sequenced subset of those ROI targets based on the project approach.