Stay up-to-date on all things legal technology, including practice management, payments, automation, and more.
By keeping in touch with your network and actively building new connections, you’ll move closer and closer to potential clients. A larger, stronger network increases opportunities for new client referrals. If your firm’s referrals have declined, it may be time to review your marketing and networking efforts.
The goal of all law firms is to be profitable, but achieving that goal can be difficult for some lawyers. Generating income is, obviously, the first step towards making a profit; of course, income can only be generated if billable hours are accurately recorded and invoiced to clients, and if
In most law practices, a qualified professional can predict the costs associated with operating a firm relatively accurately. Most expenses are easily forecasted including salaries, facilities and technology. However, revenue is a bit more difficult to predict.
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
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