publication of the International Legal Technology Association
Issue link: https://epubs.iltanet.org/i/742458
18 WWW.ILTANET.ORG | ILTA WHITE PAPER FINANCIAL MANAGEMENT 2016 Tech Purchasing Survey Highlights » 32% of all respondents are planning to upgrade operating systems within the next 12 months versus 16% in 2015 » 25% of all respondents are planning to upgrade to cloud storage within the next 12 months versus 15% in 2015 » 17% of survey respondents purchased analytics soware within the last 12 months, an 11% increase from 2015 » Newly added application/service areas included security awareness training services, soware and content (27%) and security monitoring services for the network (27%). Outsourcing: Trends and Challenges » The top three outsourced technology services included: printer repair/maintenance, website design/services and security assessment/penetration testing services » When asked how artificial Intelligence (AI) will influence legal, respondents mentioned e-discovery (71%), document automation (41%), legal research (41%), contract analysis/automation (34%) and case/outcome predictions (24%) » Firms' top IT challenges include security management (67%), user adoption/lack of training (42%), risk management/compliance (40%), and email management (39%) ILTA JOANNA FORSHEE JoAnna Forshee is the CEO and founder of Envision Agency and InsideLegal, the insider's guide to doing business in legal technology in the U.S. and internationally. She has spent the last 17 years promoting the legal technology industry and its thought leaders and is the co-producer of Ignite Law (with Matt Homann). JoAnna heads up InsideLegal's market research and social media programs and educates the legal community through speaking and writing. She was recently named to the ABA LTRC's "Women of Legal Tech 2016" list, is a 2015 Fastcase 50 honoree and was winner of the 2004 Lex Proficio Award for Lifetime Achievement in the Advancement of Legal Marketing. She can be contacted at jf@insidelegal.com. 0% 10% 20% 30% 40% 50% 60% 70% 2008 2009 2010 2011 2012 2013 2014 2015 2016 < 2% 2-4.9% 5-6.9% 7-10% > 10% 0% 10% 20% 30% 40% 50% 60% 70% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Increased Remained Decreased Did your current budget for purchasing technology increase, decrease or remain the same from last year? What approximate percentage of total firm revenue do you spend on technology? (excluding IT staff salaries/benefits and training)