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Legal professionals use a wide variety of tools and methods for tracking time spent on billable matters. Some are sophisticated, while others are more problematic and error-prone; for example, lawyers who use giant spreadsheets that are updated at the end of each day or week or sticky notes to jot
Law firm KPIs, or key performance indicators, are metrics used to evaluate specific goals and aspects of your firm’s success. By tracking KPIs, you obtain valuable data that provides insight into how your firm is functioning and whether your performance is meeting your expectations across specific areas.
Getting the most out of your law firm data analytics is easier than you think. It starts with answering five basic questions.
Measuring the productivity and profitability of your timekeepers is rarely straightforward. There is, of course, the hourly rate and total billable hours for any given matter, but that fails to look at all the different variables: differing rates by matter or client and time spent on the matter that can’t
If your firm is willing to adopt new technology and upgrade automation tools, you will save time, reduce errors, and improve the firm’s bottom line.
Every year, we look forward to heading to Chicago for ABA TECHSHOW to join fellow tech-enthusiasts for new product announcements, informative sessions and panel discussions, and networking with partners, colleagues and clients. Despite this year’s conference being held virtually, we are still excited to share a few of the over
Congratulations! You have decided, either as an individual or with a group of colleagues, to open your own law firm. There is a lot to do and many choices to be made. Everything from office location, firm name, domain name, business cards, internet and phone services to computers (Windows or
Law firms work with dozens, or even hundreds, of different vendors each month. Without the right tools, tracking all of the contracts, invoices and tax information for these companies can be a full time job. CARET Legal’s robust vendor management tools help firms efficiently manage all invoices and outgoing payments
In many firms, “succession planning” is important, but not urgent. It is human nature to deal with tactical issues and delay any strategic initiatives, but many professionals do not have an end-goal in mind. Many believe that they will “die at their desks.” However, no one can remain in a
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