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Law Firm Operations
Flat Fee Practices Should Still Track Time
In a flat fee arrangement, a law firm provides specific services to a client for a specified fee, no matter how many hours the attorneys spend performing those services. The legal fees are decided before the work is undertaken, making billing more manageable and reducing attorneys’ pressure to achieve billable targets.
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Law Firm Operations
"Stress-Free Productivity" in Your Law Firm
As a lawyer or legal professional, you are well aware of the pressure to stay productive in order to tackle the never-ending tasks that seem to grow with each passing day. David Allen discusses what it means to be productive without being in a constant state of stress in his New York Times Bestselling Book Getting Things Done.
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Law Firm Operations
Can I Venmo You? How to Enhance Client Service as Payment Preferences Evolve
Law firm clients increasingly favor the modern convenience and enhanced security of digital payments over paper checks. As this trend continues to accelerate, the payment options law firms offer will significantly impact clients’ choice of firms to hire. Read on to learn how enabling electronic payments through ACH bank transfers and credit cards can help your firm meet clients’ evolving payment preferences as well as get paid faster and hold on to more profits.
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Case & Matter Management
A Few of Our Favorite Things from 2021
Each year, the CARET Legal development team releases hundreds of updates and dozens of new features to help law firms be more efficient and profitable. While this year was full of updates and changes, CARET Legal users have spoken, and we’re pleased to share our top 10 releases of 2021.
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Law Firm Operations
Document Storage vs. Document Management Systems: Key Differences to Consider When Determining Which Your Organization Really Needs
There is often a great deal of confusion regarding document storage and document management systems. As a result, companies often wrestle with the following questions: Which solution is the simplest to manage, the most cost-effective, and the best overall?
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Law Firm Operations
Law Firm Budgets and Forecasts 101
No business owner wants to deal with a financial emergency due to lack of planning. In order to monitor how a firm is doing financially year to year, every law firm should maintain an internal budget/forecast. A budget/forecast report provides the owner a monthly snapshot of how the firm is doing at least yearly with monthly updates.
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Law Firm Operations
CRMs Aren’t Just for Big Law: Features That Can Help Every Firm Be More Efficient and Profitable
Although many people think that customer management relationship systems (CRMs) are relatively new in existence, the practice of keeping customer records has existed for centuries. Merchants, even those selling their wares in ancient times, understand that it’s much easier to sell your goods to a current or past customer than to try to cultivate new business.
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Law Firm Operations
Hybrid Work Environments
In today’s workplace, 65% of employees are looking for another job. To compete for the best employees, employers must remain current, providing a quality, forward-thinking work environment which includes hybrid work options. Prior to the pandemic, law firms allowed only exempt employees (lawyers and professionals) to work remotely, and then only occasionally.
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Law Firm Operations
Conflict Check Basics: What Every Legal Professional Should Know
Most lawyers have multiple clients, and many will work in more than one firm throughout their careers. These circumstances dramatically increase the possibility of conflicts of interest between former and new clients.
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