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Years ago at a conference on the future of the legal profession, the presenters made three salient points. First, an increase in computers in law firms would wipe out the middle information processing people. Second, the law firm business model of “hours times rate equals the value of services delivered” would result in ineffective and inefficient service. And third, what the printing press did to the interpreters of the Bible, i.e. , the clergy, the Internet and technology would do to the legal profession. This “Seize the Future” conference, which took place in 1997 and 1999, focused on 2015. Now, the tipping point of change for law firms has been reached.
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Revolutionizing Revenue: How 'Invoice to Cash' Innovation Rescues Firms from Billing Woes
By Milan Bobde
More and more, firms are understanding that it’s the firm’s ability to convert its agreed rates through billing and collections to collection realization that really counts. So why is it such a challenge for firms to solve it?
AI, the Billable Hour and Improving Client Service
By J. Mark Santiago
The ultimate guardian of the quality of client service is the partners’ own judgement but properly utilizing AI can set expectations that will benefit the clients and the firm and end forever the “End of the Billable Hour” stories.
Need to Do More with Less? CRM Could Be the Key
By Chris Fritsch
CRM is foundational to the success of marketing and business development teams because it is precisely the tool that allows the firm to efficiently manage and nurture client and prospect relationships.
Leading Legal Department Trends for 2024
By Wendy King and David Horrigan
Recent research based on interviews with chief legal officers around the globe found that the increased scope and scale of risk now facing corporations is driving change in how legal teams set their strategies, leverage technology and manage operations.