Leasing Technology and the Business of Law

Many law firm decision makers are turning to leasing equipment and technology as a competitively advantageous way of performing in the new business model landscape. From a financial perspective, leasing allows firms to: establish a monthly expense where the partner costs are spread out over the life of the hardware or software project; conserve their cash reserves; keep bank lines of credit open for short-term use; expense lease payments rather than depreciate equipment; avoid potential losses on the sale of equipment; and have IT proceed with projects that may exceed the firms' budgets. Combined, these benefits can translate into optimal financial and operational flexibility when the lessor involved is a trusted and strategic partner in a firm's decision-making.

As it happens, it's budget season for law firms now. As we speak, CFOs are scrutinizing their firms' available forms of funding for optimal distribution ' cash, existing bank lines, leasing or some combination of the three ' and determining precisely these key expense factors, especially spatialization, outsourcing (e.g., Foley & Lardner LLP), equipment, and technology needs to keep their firms performing at their competitive best financially and operationally in order to deliver on the mandate for increased transparency, value and service.