De-risking ERP Implementations at Law Firms - A Proven Approach
The business benefits of Enterprise Resource Planning (ERP) systems are well proven across a range of industry sectors and these also apply to legal.
Combining multiple silo'ed systems (for example, practice management, HR, time recording and so on) into one business platform with a single source of data delivers total firm management across client and matter management, billing, time recording, finance & accounting, business intelligence and talent management.
Despite the clear benefits of this approach, only a few of the largest law firms have taken the plunge to invest in this transformational technology.
Undoubtedly, there are some challenges that any firm-wide project of this type will pose - changing a practice management system involves a firm-wide adjustment and an appetite for change; an open and positive attitude; and resource to champion the business transformation. But the business benefits far outweigh the challenges. Fieldfisher went live with its ERP system in 15 months, on time and on budget with 1.7m savings expected over the next five years.