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Financial Strategies to Optimize Your Technology Spend

Uncertain and challenging markets are times when firms and organizations of all types conserve cash. If this can be achieved without cutting needed projects, equipment or services to ensure successful returns to the office, then this is clearly an ideal financial strategy.

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The economic outlook for firms in 2023 is challenging. Law firm overhead expenses have risen to their highest levels in over 15 years, demand growth is slowing, and for the first time, the annual average rate of inflation (5.0%) is exceeding the average worked rate increase across the market (4.8%) and clients, feeling their own inflationary pressures, may be challenging invoices more frequently and aggressively or simply slowing down their payment cycles.

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