As the CFO of a law firm, your attention is required on several competing priorities throughout the firm. As such, it is tempting to leave certain important matters, such as vendor and product selection, to the end users or IT department. However, before you pass these decisions off to other team members, remember that vendor selection can have a direct impact on the firm’s profitability.
Technology is changing law firms as we know them, presenting new decisions that can have a direct impact on revenue. Anything that impacts the law firm’s revenue should be of interest to the CFO. That’s why it should be the CFO’s responsibility to be involved when making these types of important or critical purchases. Now, more than ever before, the CFO needs to be involved with the vendor selection process to ensure that technology improvements are positioning the firm for future growth and financial success.