According to a recent Above the Law survey, more than 90% of law firms that have a Business Intelligence (BI) solution have more confidence in the accuracy of their data, but only 25% of firms have adopted this technology. Law firms are facing more financial reporting demands than ever before but struggle on how best to evaluate BI solutions and get internal buy-in.
That’s why Litera, in partnership with Above the Law, conducted the above survey of nearly 300 legal professionals to explore the challenges law firms face on their journey to better business intelligence. The survey report dives into the technology evaluation process, including barriers to BI adoption and key purchasing criteria, and the impact a BI solution can have on profitability and setting up firms to take advantage of AI innovations.
- Key challenges to adoption, including stakeholder buy-in and KPI selection of new solutions
- Satisfaction and ROI, including common success metrics and law firm views on their BI systems
- Surprising benefits to BI, including unexpected value-adds and reduced firm workloads
- Future outlook, including top priorities and the impact of AI adoption