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By Frank Strong
The 2015 InsideLegal and ILTA Purchasing survey is out and provides a 10,000 foot view of insights from senior legal tech professionals as to budgets, opportunities and challenges facing the ILTA community. The 2015 survey marks the 10th year running for the benchmark survey, which this year, earned 184 responses, or 14% of the 1,232 law firms invited to participate. The report is a short 12 pages so we sat down during a break at ILTACON to comb through it and share what leap jumped out for us:
1. Legal tech budgets flush.
How money is invested can be just as important as how much is invested. Legal IT leaders in some circles will face harder decisions than others. Across all firm sizes 41% of respondents said tech budgets would increase; 44% said budgets will remain flat while 15% said budgets would decline. A majority (57%) spend 2-4% of firm revenue on technology, with large law firms investing north of $17,000 per attorney.
Read the complete article at: 4 Takeaways from the InsideLegal and ILTA Purchasing Survey