The latest numbers are in. And once again they confirm the effectiveness of legal reporting tools on the top three KPIs impacting law firm profitability. The October 2021 Legal Trends Report by Clio looked at these three KPIs: Utilization, Realization…
In 2019, law firm workplaces accounted for 5.9% of all U.S. office leases according to CBRE. But real estate investment headlines like this - “Law Firms are Dumping Office Space” - can leave the impression the law office is dead. …
A fee allocation report provides a detailed view of the time and expenses that have been billed and collected at the matter level. In addition to informing fee allocation, fee allocation reports can form the basis of a firm’s bonus…
Trust accounting is arguably one of the most fraught and complex concerns of every law firm. The challenge of safeguarding and protecting client funds, while also sheltering your attorneys and your firm from the extremely serious consequences of improperly managed…
The rapid emergence of new legal technology and a global pandemic have significantly disrupted the law industry. Long before COVID, consumers were growing more and more dependent on technology. As they became accustomed to the convenience it provided, that dependence…
Is it time to consider a legal analytics system for your law firm? It’s no secret that law firms and those who run them have too much to do! Growing your law firm is, frankly, overwhelming. You lose your time…
It’s no secret that time is money, especially for law firms. It’s a constant challenge to balance practice management with revenue generation. Even if you believe that technology reduces the inefficiencies that rob profitability, it can be overwhelming to know…
Small and mid-size law firms shouldn’t overlook the necessity of setting up the right budgeting and accounting strategies to organize financial information. Too often, law business owners see budgeting practice as a norm to be followed for marketing, law business…
Clients facing financial pressures of their own have become more demanding of their legal counsel and hesitant to pay fees billed by the hour which can be unpredictable and opaque. Law firms have had to devise alternative methods of billing…
Introduction- The importance of big data is soaring. Each day, the profound impact of data analytics can be felt across myriad domains of digital services – courtesy endless stream of information they generate. Yet, a handful number of people actually…