A prominent law firm that has more than 30 offices located worldwide is consider

Question

A prominent law firm that has more than 30 offices located worldwide is considering going to a cloud service for all of its document desktop applications, storage and information management needs. Desktops will not possess any applications or stored files and all mobile activity will require web access or use of a jump drive. The firm partners expect client billing revenue will increase by 35% while costs will be reduced by 20%. Identify the revenue and costs considerations and other relevant issues that should be considered.

Explanation / Answer

The Law firm can expect to use their Accounts receivable and Unearned revenue accounts to be used more frequently as they will be able to transact more business form more locations on the go. The cost considerations involve less charges to supplies and equipment as they will be on the cloud. The paralegals, attorney may need to be equipped with ipads, laptops or smart phone so that they can have this access remotely. In terms of information management needs, most firms that go to the cloud do not have any additional expenses besides implementing software to their databases/customer relationship management systems. This could be a one time fee and/or a recurring maintenance expense.

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