Making the Business Case: How to Convince Law Firm Leaders to Invest in New Tech

2. Include clear, measurable ROI. While use cases will give leaders insight into specific examples of how a tech will add value, these examples alone will not be enough to sell executives. Therefore, be sure to conduct a comprehensive analysis of the potential return on investment (ROI) and include metrics on specific things such as cost savings, productivity gains (i.e., time saved) and/or increases in revenue.

3. Remember, compliance is not a suggestion. Given the increased propensity for cyberattacks on law firms, many change leaders are forced to convince the firm’s executive management to change technology that does NOT directly drive top-line revenue.

For example, risk- and compliance-related solutions are now mission-critical, and business continuity has never been a more important topic. That said, sometimes law firm leaders need to be reminded that some systems that ensure things such as data security and compliance are not optional. Therefore, if the proposed change in technology addresses security concerns, or better yet enhances the firm’s cybersecurity posture, be sure to emphasize that. If necessary, remind the executives that the cost of noncompliance (and increased risk exposure) far exceeds the cost of investing in a preventative technology solution. Lawyers do not like risk. 

4. Come with a small coalition of early supporters. Identify and cultivate champions among influential partners who can advocate for the technology. Identify minimal risk, high reward users (preferably partners) who are tech-forward thinkers and willing to sing the praises of the new tech’s value. By building a small group of active and vocal champions, their support can help sway skeptical leaders and build momentum for the business case.

“If necessary, remind the executives that the cost of noncompliance (and increased risk exposure) far exceeds the cost of investing in a preventative technology solution. Lawyers do not like risk.”

5. Leverage leaders’ competitive instincts. Firm leaders are often competitive by nature and monitor their peers’ activities. If possible, within your business case, highlight how clients are increasingly demanding tech-savvy law firms, but also present case studies of any competitors that have successfully adopted similar technologies. Vendors should be willing to provide you with case study examples that you can use to sell the firm’s leadership. These examples should appeal to the executive leadership’s desire to remain competitive in the market.

These are just some of the best practices recommended for selling firm executives on investing in technology. Of course, once you sell them, you will need to develop a comprehensive change management plan and strategy that will convince the many other different user types within the firm that the decision has been a sound, thoughtful one and will benefit them, the firm, and ultimately the clients.