Clio, a legal software vendor, recently produced a report studying data from hundreds of law firms to determine the level of technology implementation and other growth indicators of the most successful firms.

According to the research, those law firms that are seeing their revenue grow the most are embracing cloud-based and client-centered technologies more than other companies. Another striking difference in technology adoption among growing firms was their use of reporting tools: growing law firms are twice as likely to use reporting tools than shrinking firms.

The lesson from this research is that successful firms are more likely to grow their revenues because they have access to insights that assess their performance, allowing them to spend more time on their long-term growth strategy.