Defining ‘Best-of-Breed' Technology

Best-of-breed technologies are the leading technologies available within a specific niche. These technologies are usually designed to perform one function exceptionally well. Typically, bed-of-breed technologies have more features than multi-purpose tools, like ERP systems (we’ll call these generalist tools). Additionally, the functionality caters exclusively to that one niche, so it is more attuned to the pain points experienced within that industry.

Advantages of Best-of-Breed Technology Adoption

Beyond more features and enhanced functionality, best-of-breed technologies offer law firms significant advantages over generalist tools, including:

Faster Innovation
Best-of-breed technologies derive their competitive edge from offering cutting-edge features that solve real industry challenges. As such, providers engage in continual innovation to ensure the technologies stay at the front of the pack. By relying on best-of-breed technologies, you can be certain that you’ll be the first to access innovative developments designed to make your job easier.

Distributed Cybersecurity Risk
Best-of-breed technology providers understand cyber risk and build strong cybersecurity protections into the software to ensure it is as secure as possible. You should expect to see industry-leading cybersecurity certifications from a best-of-breed product.

From the software vendor’s perspective, strong cybersecurity protections ensure that the brand’s reputation stays intact while also allowing its users to consistently and securely access the software. From the perspective of your law firm, you can distribute the risk and cost associated with cybersecurity by setting minimum standards for technology providers.

Greater Flexibility in Enterprise Management
When you place all your eggs in one basket, it is incredibly cumbersome to source an alternate provider if you aren’t thrilled with the product performance. By developing and building a digital ecosystem with multiple ‘best-of-breed' tools, you achieve optimal flexibility in your law firm’s operations.

This approach allows you to more affordably scale your operations, access emerging technologies, and better solve the challenges faced by your lawyers.

"Time tracking is at the core of the legal business model. You don’t want your lawyers to spend a lot of time tracking their billable hours, you want them to spend it adding value for clients. From the first moment, our lawyers were very engaged with TIQ Time, and understood the value the service would deliver. The fact that TIQ is focused fully on the legal market creates trust and made it a safe choice for our firm." - Trine Melsether, Chief Digital Officer at Thommessen.

You can read more about the pros and cons of best-of-breed technologies here.

Discover TIQ’s Best-of-Breed Time Tracking Solution

TIQ Time services the legal industry with its industry-leading time tracking software. Designed to reduce billing errors, increase transparency, and reduce time leakage, TIQ Time is currently deployed in more than 40 law firms around the globe.

Our software gives deeper insights into the real cost of case management to law firm leaders while helping junior lawyers meet their billable targets while achieving better work-life balance.

To find out how, request a demo.