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The Post #ILTA14 Guide to Stats, Facts, Quotes and Quips

The Post #ILTA14 Guide to Stats, Facts, Quotes and Quips
Those perusing the Twitter hashtag stream from the ILTA Conference (#ILTA14) would have seen an incredible volume of statistics circulated over the course of four days – the 2014 ILTA/InsideLegal Technology Purchasing Survey and other legal industry studies – notwithstanding.

We’ve tried to keep track using the “favorites” feature on Twitter and have gone back to cull through the posts and updates in order to group them into categories that attendees and non-attendees alike might find useful.  The image included at the top of this post stemmed from a snap poll conducted during a session conducted on Thursday titled, Big Data: Considerations and Challenges and Benefits for Law Firms.

We’ve linked to the Twitter handle of the person we spotted publishing these updates, however it’s important for the casual reader to understand that link does not signify the source.  The source for these statistics is primarily from discussions and session throughout the conference.

Finally, we have provided a bit of copy editing for uniformity and to polish the short form content that is both acceptable and common on Twitter.  Most of these changes were limited to adding punctuation or spelling out abbreviations; we have avoided changing the meaning of any particular post.

Business of Law Stats

  1. 50% of firms have no intelligence/financial analysis software. – Monica Sandler
  2. 80% of what happens in a law firm is not the practice of law. – Jeffrey Brandt (citing Jeffrey Schwarz, COO Polsinelli)
  3. All U.S. law firms with more than 250 attorneys claim lateral acquisition as a growth strategy – David Hobbie
  4. Altman Weil: 75% of managing partners think that lateral movement is permanent & needs to be part of firm strategy. – John Gillies
  5. Big corporations on average use 47 law firms; just two get 50% of the business while the rest fight over the scraps. – Darryl Cross
  6. Study shows 30% of our time is spent “doing email” and 40% of email is signal to 60% noise. – Jason Plant
  7. Law firms are typically 40% female. – David Hobbie
  8. 76% of large law firms are employing dedicated “pricing officers.” – LexisNexis BLSS
  9. Firms conducted 88 mergers in 2013 impacting 26,638 lawyers. – LexisNexis BLSS

Law Firm Billing Stats

  1. Lawyers spend 5x longer to do document work that an expert does more efficiently. – Monica Sandler
  2. Legal bills were up over 70% while other expenses went up 20% over the same time period- and they wonder why there is rate pushback. –  Chris Fritsch
  3. Billing Realization vs. Collection Realization: 1.1% gap in 2008 and 3.0% gap in 2014. – Nick Strothmann
  4. 75% of projects with excellent change management stay on schedule, 82% on budget, 95% meet objectives. – Traveling Coaches

Law Firm Mobile Stats

  1. 80% don’t use mobile time entry. – Shirley Crow (is this law firms or lawyers?)
  2. 65% indicated they have a mobile device security policy in place. – JoAnna Forshee
  3. 76% of legal staff use personal mobile devices. – Accellion
  4. 23% of legal departments have no formal security policy for mobile devices. – Accellion

Law Firm Technology

  1. 80% of firms do not use a KM system. – Monica Sadler
  2. 44% of firms’ top management view IT department as expense rather than strategic resource. – Shirley Crow
  3. 86% of respondents are on Win 2008 servers. – Monica Sandler
  4. Mailbox size limits are above 2 GB (62% which is up from 19% four years ago). – David Hobbie
  5. 62% of firms spend more than $8K on technology per attorney. – JoAnna Forshee
  6. 60-70% of law firm help desk calls are resolved on first call for approximately 30% of session attendees. – Michelle S.
  7. 69% of firms polled #ILTA14 are actively implementing a less paper initiative. – David Simpson
  8. 10% of law firms plan to buy analytics in the next 12 months. – David Houlihan
  9. Talk about using predictive technologies to manage email, precision seems sticking point to me. Talking 85% success auto filing. – Jason Plant
  10. 15% of law firms planning on purchasing/building a new intranet in next 12 months. – Glenn LaForce
  11. 80% of law firm website traffic is driven by attorney biogrpahies. – Chris Fritsch

Law Firm Cyber Security

  1. Email management continues to be highest annoyance at 36% (from IT perspective); security concerns up from 11% to 28% in 4 years. – David Hobbie
  2. 54% of firms polled have no person or part-time responsibilities between people for Information Security. – Brad Garland
  3. 50% of data that should be secure per government regulations isn’t. – Brad Sowell
  4. 83% of the firms that are attacked take no formal measures. – Mary Abraham
  5. More than 71% of attacks on firms of less than 100 employees and 83% of those take no formal measures – Colleen Cable
  6. 100% agree that “law firms are the soft underbelly of American cybersecurity.” – Jeffrey Brandt
  7. There are two types of law firms: Those that have been hacked and those that have been hacked that don’t know it. – Anne Costello

Cornucopia, Miscellaneous and a Hot Dog Quip  

  1. About 30% of us are natural leaders, 30% have a mix of skill, 30% not so much. – Dani LoPiccolo
  2. Hindsight: I think a hot dog cart in the middle of this atrium would make serious bank. – Joe Utsler
  3. Prediction 10 years 40% Fortune 500 won’t exist. – Shirley Crow
  4. 85% of students selected harder coursework after gamification. – Michael Sweeney

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Did we miss a statistic you think is important?  Please leave a comment or tweet us at @business_of_law and we’ll see if we can add it!

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About Frank Strong

Frank Strong
Frank Strong is the communications director for the LexisNexis software division located on NC State’s Centennial Campus in Raleigh. In this capacity, he leads communications efforts in support of software products for law practice and law department management and also litigation tools – across large law, small law and corporate counsel segments. With more than 15 years of experience in the high-tech sector, Strong previously served as director of public relations for Vocus, which developed marketing, PR and media monitoring software. He has held multiple roles both in-house with corporations, ranging from startups to global organizations, and has also endured the rigors of billable hours, having completed gigs at PR firms including the top 10 global firm Hill & Knowlton. A veteran of two year-long deployments, Strong has concurrently served in uniform in reserve components of the military for more than 20 years, initially as an enlisted Marine and later as an infantry officer in the Army National Guard. Strong holds a BA in Film and TV production from Worcester State University, an M.A. in Public Communication from American University, and an M.B.A. from Marymount University. He is a PADI-certified Master Scuba Diver and holds a USPA "B" skydiving license.