Not making enough money? Maybe it’s your own fault. Check out this post from the ABA Journal.
For those of you who want the upshot, yesterday, Jack Newton, Clio’s CEO, gave the opening address at Clio’s Cloud Conference. Per the ABA Journal, Newton
- “shocked many in the audience after revealing that, among Clio’s 150,000 daily active users, lawyers were only billing 28 percent of their available work hours (approximately 2.24 hours of an 8-hour work day). That number, according to Newton, was closer to 22 percent for solo practices.”
The post goes on to note that technology can help lawyers to
- “’get the missing six hours per day back,’ according to Newton. To help attendees do this, the conference provided sessions and speakers designed to help them choose the right tech tools and keep track of the right metrics.”
Last week, I attended the International Conference of Legal Regulators 2016. One of the sessions discussed ways that lawyers and law firms can use technology to improve efficiency, thereby improving the quality of services provided and, in the process, improving the bottom line. The key takeaway: don’t invest in technology merely because it’s technology. First, identify what it is that you (or your firm/office) does, then look for technology that will help you to do it better. A dairy farmer who buys the latest gaming system probably won’t increase milk production among the herd.
I’ve been clear: Rule 1.1’s duty of competence includes tech competence. In addition, as the ABA Journal’s post points out, technology can help lawyers to run more efficient and cost effective offices. However, technology is not a “one-size-fits-all” proposition. So, remember: think before you buy.