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September 16, 2008

Comments

There are two types of savings here, soft money and hard money. Soft money is time saved so that you can be more productive. Hard money is more cash directly in your pocket. If a firm takes in an additional $20,000 per year per lawyer (based on 10% of 1,000 billable hours at $200/hr) in addition to the "soft money" savings, that is substantial. Also, the cost I quoted included time estimates for training, getting up to speed, etc.

obviously you are talking in broad strokes, but i think its important also to consider how much time it will take to train on the new system to become efficient enough to get to your numbers, whether bugs in the new system will hinder production, etc. etc. i would hope to have an upside of a lot more than 10% on this type of investment.

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