Does Your Firm Have a Good Handle on Security? Security has been a major focus in the past few years, with client requirements, regulatory changes and even the news being driving forces. This year security compliance/risk management has dropped from 39% to 34% in the ILTA Survey. Looking at the breakdown by firm size, security… Read More »
in regulations, are driving IT budgets upwards. Can leasing and financing help your firm stay compliant, cyber-current and competitive without breaking the bank? Join us on Tuesday, January 23rd for our ILTA-sponsored webinar: “How Financing Helps You Manage State-of-the-Art IT Infrastructure” Time: 12:00 pm ET ILTA members: Free Non-ILTA members: $75.00 Register here. Mike Henderson, Regional… Read More »
Leasing and financing equipment assists in preserving cash flow—and thanks to updates in the Section 179 accounting rules, it can also save money on taxes. If the equipment you lease qualifies for the Section 179 tax deduction, you might be able to expense all or portions of the cost. Here’s what you need to know… Read More »
Advances in technology and software are increasing exponentially, causing obsolescence cycles to shrink, and inserting risk as outdated technology leaves firm?s vulnerable to security risks. Many law firms struggle to manage these vital needs to continuously update software and equipment to keep current and address security while staying within budget. Leasing is a strategic financial… Read More »
This article was featured in the Q2 2017 edition of Thomson Reuters Elite’s Forefront newsletter. By Scott McFetters In the next 12 to 24 months, users of the Elite Enterprise® platform will have to decide what is the best way to smoothly transition to 3E by the planned end-of-service date. This means that your firm… Read More »
This article was featured in the May 2017 edition of Law Journal Newsletters. By Scott McFetters Advances in technology and software are being made at an increasingly rapid pace. As a result, IT hardware obsolescence cycles are shrinking too. This period of exponential improvement with which we are all now familiar has shown time and… Read More »
This article was featured in the May 2017 edition of Law Journal Newsletters.
By Scott McFetters
Advances in technology and software are being made at an increasingly rapid pace. As a result, IT hardware obsolescence cycles are shrinking too. This period of exponential improvement with which we are all now familiar has shown time and again that there will continue to be breakthroughs in technology that deliver better, less expensive, and/or more robust products. Law firms may want to leverage a specific law firm management technology to gain a competitive advantage in the marketplace but might not want to purchase those tools outright. How are you equipping your firm to succeed both in the present day and into the future?
On Jan. 10, 2023, Thomson Reuters Elite will cease support for all versions of its Enterprise platforms, with all bug fixes for all versions ending on Dec. 31, 2022. The Thomson Reuters Elite Enterprise platform is over 25 years old, and according to the company, is no longer feasible to maintain compatibility with new technology. In addition, Microsoft will terminate related technologies over the coming years, which means that by January 2023, all enterprise versions will be running on unsupported Microsoft technology.
As part of the complete Enterprise Business Management Solution offered by Thomson Reuters Elite, the 3E platform helps firms manage critical areas of their business. This means they upgrade either to 3E or a competing product, which could impact several mission-critical systems within the firm. In addition, this could require other expensive hardware upgrades and tertiary software upgrades.
Approximately 33% of Thomson’s 167 client firms, ranging from 100 fee earners to 600, have already made the decision to upgrade to 3E. This leaves about 67% of its major law firm client base still undecided as to whether to upgrade to Thomson’s new 3E platform or change their core platforms to Aderant or another competitor.
Finance or Buy?
Whether firms migrate from Elite Enterprise to the new 3E platform or change providers, a decision must be made to arrive at a financial solution that will cover not only the software expenses, but also additional related expenses: training, implementation, maintenance and other soft costs, along with any new hardware requirements for the new system.
To learn more, read Scott McFetters’ latest article in Thomson Reuters Elite’s Forefront here. To download a PDF of the full article, click here.