Guide for law firm finance teams to buying software
Investing in legal technology (legaltech) can feel like navigating uncharted territory - especially in law firms where tradition often takes precedence over innovation. But with the right approach, legaltech can transform your firm’s operations, save money, and even enhance client satisfaction. This guide is designed to help finance teams build a rock-solid case, rally the right people, and steer clear of common roadblocks when investing in legaltech.
Building the right tech stack is key
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How to choose the right tech stack for your company?
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What to consider when choosing the right tech stack?
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What are the most relevant factors to consider?
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What tech stack do we use at Simpletech?
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Summary
The legaltech landscape is buzzing with tools that promise efficiency, accuracy, and streamlined processes. But choosing the right product and getting everyone on board isn’t just about finding the best features—it’s about aligning the solution with your firm’s goals. Whether it’s convincing sceptical partners or tackling technical hurdles, success lies in preparation, communication, and persistence. Here’s how to make it happen.
Develop a business case
Without a strong business case, even the best legaltech ideas will struggle to get off the ground. Start here:
Establish the baseline need
What’s the problem you’re solving? Maybe it’s delays in client billing, inefficiencies in document management, or too much time spent on admin. Be specific. Use real examples to show how this issue affects the firm’s revenue, lawyer productivity, or client satisfaction.
Quantify benefits and ROI
The next step is answering the big question: “What’s in it for us?” This is where ROI comes in. Ask the vendor for case studies or ROI data from other law firms. Use this as a starting point and don’t shy away from making assumptions tailored to your firm. For example:
- How much lawyer time could the tool save?
- Will it speed up cash flow or reduce billing errors?
The more you can tie the solution to measurable outcomes, the stronger your case.
Factor in resources
Don’t stop at the benefits—consider the costs and effort involved. What’s the price of the software? How much time will your team spend on implementation? Will lawyers need training? By showing you’ve accounted for all the resources required, your business case will feel grounded and credible.
Get stakeholder buy-in
You’ve got the numbers—but the people behind the decision matter just as much. Without stakeholder support, even the best plan can fall flat.
Engage lawyers early
Lawyers are often the ones who’ll use the tool, so their buy-in is critical. Think about their pain points. Are they bogged down by admin? Struggling with timekeeping? Show how the tool solves their problems. Even better, get influential partners involved early. Their support can carry significant weight with other stakeholders.
Use a pilot programme
A pilot can be a game-changer. It lets you test the tool in a small, controlled environment while showing tangible results to others. For example: “In our pilot, the tool reduced admin time by 20 hours a month per lawyer.” Hard numbers like this make it easier to convince sceptics.
Engage technical teams early on
No matter how great the legaltech product is, it’s only as good as its fit within your firm’s systems. Engaging the right technical teams from the start can prevent costly surprises down the line.
Bring in the information security team
Data security is non-negotiable, especially in the legal sector. Your infosec team should assess the vendor’s security protocols and ensure compliance with your firm’s standards.
Coordinate with IT
If the tool needs to integrate with existing software (like billing or document management systems), your IT team needs to weigh in. Their input will ensure the new tool plays nicely with what’s already in place.
Involve procurement
Your procurement team can help vet vendors, negotiate better terms, and ensure the purchase aligns with firm policies. Loop them in early to avoid delays later.
Don’t be afraid to challenge
It’s easy to hit a wall of resistance when proposing legaltech investments. Stakeholders may say, “It’s not the right time” or worry about costs. Push back—with evidence.
Revisit the benefits
Remind stakeholders of the benefits you’ve outlined: time saved, improved accuracy, faster billing cycles. Tie these outcomes to the firm’s strategic goals, like boosting client satisfaction or improving efficiency.
Consider the cost of waiting
Delaying legaltech investments comes with risks. Competitors may adopt the same tools and gain an edge. Inefficiencies in your processes could continue to drain resources. Ask: “Can we afford not to act?”
Align with the bigger picture
How does this investment fit into the firm’s broader strategy? For example, if the firm is focused on modernising its operations, legaltech aligns perfectly with that goal. Use the firm’s own priorities to strengthen your argument.
Conclusion
Navigating the legaltech buying process can feel daunting, but with the right approach, you can turn challenges into opportunities. Start with a solid business case, engage the right stakeholders, and tackle roadblocks head-on. The firms that invest smartly in legaltech today are the ones that will thrive tomorrow.
The question is: What’s your next step?