March 23, 2009
It is estimated that data loss costs U.S. businesses average $12-418 billion per year and, on average, each hour of downtime costs $50,000. The average cost to re-enter 20 megabytes of data is between $17,000 and $19,000 and takes between 19 and 21 days[i]. The cost to recreate data from scratch is estimated to be between $2000 and $8000 per megabyte[ii]. A data loss event can be catastrophic occurrence; 60% of companies that lose their data close within 6 months of the event and 72% fail within 24 months[iii].
The leading causes of data loss are: hardware or system malfunctions (40-44%), human error (29-32%), software corruption (13-14%), computer viruses (6-7%), theft or data breach (9%), hardware destruction or natural disasters (3%)[iv]. The leading causes of data theft are: attacks from external sources (73%), theft by business partners (39%), and attacks from internal sources (18%)[v]. It estimated that: 1 in 5 computers will suffer a fatal hard drive crash within its lifespan, 15% of laptops are stolen or lost (approximately 2000 per day), and, on average, a hard drive fails every 15 seconds[vi]. (more…)
March 19, 2009
The harsh reality is that law school only teaches theory and, until recently, learning the actual practice of law was taught by that harsh task-master experience. For the new associate just entering an established law firm, experience’s lessons are tempered by the older and wiser partners, however for those of us who march to our own drumbeat as solo practitioners finding mentors can be a daunting task. On March 20th, 2009, this changes with the opening of Solo Practice University.
Solo Practice University is the brain child of Susan Cartier Liebel and stems from her frustration with the inability of law schools to cover the innumerable variables that are unique to the actual solo practice of law. Solo Practice University is an on-line community bringing law students and solo practitioners together with an experienced, nationally recognized faculty. (more…)
March 16, 2009
Many of my clients are located in rural areas of North Carolina. It would take them an hour to drive to “the big city” to meet with an attorney in person. However, these clients have access to the Internet and like any other segment of the population, they need access to legal services from time to time.
As a way to meet this public need, for the past three years I have used my web-based virtual law office (VLO) to provide online unbundled legal services to clients across the state of NC where I am licensed to practice law. Sometimes the work is transactional, such as drafting contracts, leases, setting up businesses or drafting estate planning documents. Other times I provide basic legal advice and guidance as my clients navigate the justice system as a pro se litigant in their small county courthouse. The public response to a web-based virtual law office as an alternative method of communicating with an attorney has been great. (more…)
March 5, 2009
In Comparing the Cost of SaaS LPM Tools to Conventional: The Metrics That Matter Carolyn Elefant presents a well considered argument that simply comparing the cost of software as a service practice management (SaaS LPM) tools to conventional desktop ones (as I do in: RocketMatter & Clio) isn’t accurate as it does not incorporate the intangible benefits inherent in the SaaS model such as the reduction in IT support costs, office space requirements, hours lost responding to client requests for updates, etc. I do have to agree with her assessment that one should make this type of externalities-based comparison when choosing a LPM system. However, I believe that for all its positives, the SaaS model has some serious flaws to overcome.
Current SaaS LPM offerings are immature technology that require reliable a high-speed Internet connection and offer no off-line capabilities. Whereas desktop systems tend to be mature software offerings from stable companies with long track records and most desktop systems offer some form of mobile access. Buying into one of the current SaaS solutions means risking mission-critical software on the belief that you will have Internet access 24/7/365 and that nothing will fail in the electronic chain that connects your computer to the SaaS provider’s servers. (more…)