What is a vCIO and why do you need a vCIO?
Most law firms believe they need to have an internal Chief Information Officer (CIO) in order to confidently plan, budget and manage their IT.
Unfortunately, most law firms are priced out of maximising the potential of their technology as the average salary of a Chief Information Officer, according to Payscale, is around £99,973 a year. (This doesn’t even include the bonuses an internal CIO could expect to gain).
As a result, many law firms feel they can never reach a point where their technology acts as a competitive advantage.
However, with a vCIO (Virtual Chief Information Officer), law firms can outsource a company’s pool of resources to fulfil the role of the traditional Chief Information Officer – at a fraction of the cost.
A vCIO becomes an extension of your law firm and enables your firm to access technology expertise on demand, usually for a retainer fee or as part of an IT provider’s Managed Solution.
Let’s dive into how a vCIO could benefit your law firm.
What are the benefits of a vCIO?
Opting for a vCIO over an internal full time Chief Information Officer will save your law firm thousands of pounds moving forward.
The cost of finding and hiring an internal CIO is typically around 25% of a CIO’s initial first year salary. If we use Payscale’s annual CIO salary of £99,973 as an example, you would be paying around £25,000 just to source and onboard the right CIO.
A vCIO will also be looking to optimise the costs of your IT infrastructure by cutting unnecessary costs where possible and viable. They’ll likely be able to find you cheaper ways of operating in regards to software and subscriptions too.
Furthermore, as a vCIO would be a fixed cost each month or year, it would be very easy to budget the cost of your vCIO in your quarterly/annual budget reviews.
Keep up with trends
It is difficult for a small to medium sized law firm to be implementing the latest best practices and technologies on their own. On top of this, technology is constantly changing. Educating your team could be both time consuming and expensive.
With a vCIO on your side, you can guarantee that your law firm will stay current as the vCIO has a pool of knowledge they can tap into. Also, your IT processes will be technologically up to date, enabling your law firm to remain competitive.
Receive Strategic Direction
It’s very possible that your law firm currently lacks a strategic focus in regards to technology. You can expect your vCIO to dissect and analyse your current IT infrastructure to discover what your law firm requires moving forward.
With a vCIO, you will gain a comprehensive technology strategy and a clear roadmap for the coming years. Moreover, this strategy will be aligned with your unique needs and goals.
In many small to medium sized law firms, productivity takes a huge hit as non-technical staff are left to determine solutions for the technology problems in the firm.
With a vCIO, your staff will be spending 100% of their time on the work they are being paid to do rather than having to pause to fix their IT problems.
Secure your firm
The cyber threat is growing on a daily basis and with just under half of all UK businesses experiencing a data breach or attack in the last 12 months, it has never been more important to secure your firm.
Whilst the “virtual” aspect of vCIO may imply a lack of physical interaction, in truth, your vCIO will regularly visit your offices in order to educate your employees on cyber security best practices.
Your firm would also receive a state of the art, managed security package as part of the IT Managed solution you have with your provider.
Ready for a vCIO at your law firm?
Having an expert vCIO as part of your law firm’s operations can give you a unique opportunity to achieve the digital transformation you desire.
Speak to Solsoft today to transform your firm’s technology into your unique, competitive advantage.
Get in touch
To discuss a proactive, business aligned IT and IT security solution, that guarantees to reduce cost, increase productivity and manage risk, get in touch today.