Wow. John Alber won this year’s Champion of Technology Award at this month’s LegalTech. He has just published an article at LLRX titled Rethinking ROI: Managing Risks and Rewards in KM Initiatives — which, among other things, demonstrates why he was more than deserving of the award.
The article is a terrific look at how law firms should evaluate ROI in the context of expensive KM initiatives, and an equally good statement of why they most often don’t do so. If I were a vendor selling KM software into the legal market, I’d be worried if I couldn’t speak intelligently on these issues.
Other take-aways from this article:
- I’m going to be way out-classed when John and I speak together at TechShow next month.
- It’s incredibly exciting to see law firms thinking along these lines — and equally scary for anyone who’s relied on their ability to “bamboozle technology committees” (John’s words).
- How many other former C-level execs are part of law firm management today? I know of just a handful, but I’m sure they’re out there. Clearly one of the things John (and others) bring to the table is an understanding of how businesses assess risks and investment; I don’t believe this approach is yet the norm among law firms, though clearly the trend is heading in the right direction.