The fiscal year for law firms is ending on a high note—with more to come. Thomson Reuters’ most recent data shows that a solid majority of firms (70%) predict that the moderate to high growth in demand experienced in 2021 will continue well into 2022. Regarding operational planning for 2022, the top 5 tactics law firms will take are:

  1. More efficient real estate/rethinking space;
  2. New practice tools to drive efficiencies;
  3. Rationalizing secretarial support;
  4. Improving billing and collections; and
  5. More technology.

Clearly, many if not most firms are abuzz with talk regarding a more efficient or reconfigured use of their current real estate footprint—but what does it take to achieve this vision of the future? One thing that can hold a law firm back from the new-“visioning” taking place is paper—and the shocking amount of real estate most firms currently dedicate to housing an onsite records room.

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