Finally, 2020 is ending, and with it comes a glimmer of hope for
a brighter New Year. The promise of a vaccine brings a renewed
sense of optimism for 2021. However, it is important not to forget
the lessons of this year. Firms are not inoculated from the
mistakes of the past, and it is critical not to repeat them as
clients will be a lot less forgiving. Equally important will be the
lessons learned from these mistakes.
The following are five key lessons that firms should learn from
going forward:
Lesson#1: Precedent matters in law, not in business
The firms that best weathered the pandemic were those that had
adopted technology and leveraged cloud-based applications and had
software as a service ("SaaS") which is software that is
licensed on a subscription basis and is centrally hosted. These
same firms utilized hardware as a service (HaaS) which is a service
provisioning model where a business can get IT equipment on rent
from a managed services provider. Firms
