IT spending is one of the biggest components of a law firm's annual spend. To make sure a firm is spending wisely and at the right level, partners and business leaders want to know how their IT spending and staffing compare to similar firms. Answering these questions satisfactorily can be problematic, especially when using published benchmarks that may lack detail and may not reflect the recent shifts in spending associated with the economic downturn.
To address these gaps, Baker Robbins & Company conducts an annual Law Firm IT Spending and Staffing Survey. This survey collects detailed IT spending and staffing information using clear, consistent definitions of service areas and service categories as defined in Baker Robbins' proprietary
IT Staffing and Spending Framework. This transparency enables a clear understanding of how to compare and interpret results.
Survey results are reported in the aggregate and by small, medium, and large firm size based on lawyer headcount. The results include high-level spending and staffing information based on ratios to lawyer counts, employee counts, and gross revenue as well as detailed analysis of spending and staffing by the service areas defined in the Framework. This granularity enables participating firms to understand not just how their spending and staffing compare overall, but also to identify specific areas where they may be over or under-spending in relation to their peers so that they can assess whether remedial actions are appropriate.
Armed with the Survey results, participants can approach their annual budget cycle with accurate, up-to-date benchmark information in support of budget requests. In the words of
David Hambourger, Chief Information Officer of Seyfarth Shaw LLP, and a participant in last year’s Survey says, “The Survey provided detailed information not available elsewhere and was an invaluable tool in our planning and budgeting process. The final report was very logical, well thought out, and clearly presented. We will definitely be participating again in coming years.”
The Spending and Staffing Survey is available to participants in two separately priced formats:
- The Standard Report ($250) provides aggregate information for all respondents and breakouts for small, medium, and large firms.
- The Custom Report ($750) also details how a firm’s individual responses compare to its peer firm group (based on size). Over 90% of survey respondents have requested this popular report format.
To take part in this year’s IT Spending and Staffing Survey, go to www.hbrconsulting.com/itsurvey. The Survey will open in early April and close in late June. Results will be delivered in August so that firms may use this important information as part of their annual budget planning process.
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