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Assessing the Impact of Technology Trends on Legal Practice
The purpose of this article is to highlight the 2011 Top 10 Technology Issues identified by the American Institute of Certified Public Accountants (“AICPA”), based on its most recent annual survey, and to discuss how law firms and readers of Accounting and Financial Planning for Law Firms can benefit from an increased awareness of what the survey indicates. By way of background, identifying the top 10 technology issues is an initiative that the AICPA has been doing on an annual basis for roughly 22 years. Readers can access the full survey and its findings at www.aicpa.org.
I was fortunate enough for a couple years in the late 1990s to be part of the team of professionals who spend a significant amount of time together every year developing and vetting the compiled lists after many hundreds of hours of time identifying and surveying a wide group of stakeholders on their technology challenges.
There are ancillary categories specific to public accounting, a top 10 list for business and industry, and a top 10 list of emerging technologies, among others. It can also be noted that the lists actually extend well beyond the top 10 rankings with 41 items on the primary technology issue list for 2011, extending to issues such as deployment of tablets, outsourcing of IT support, data warehouses, videoconferencing and many more, so I encourage you to access and study this information. I cannot cover each one of the top 10 items for 2011 in depth, but will simply list them and offer some comments on how these issues relate to what lawyers do for a living.
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