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The times they are a changin’. Or at least that’s what the old song says. And in the back offices of many law firms, it’s true. In the last 10 years the outsourcing tidal wave that dramatically changed the way corporate America was organized has washed into the administrative areas of law firms from San Francisco to London. Pick up a magazine or trade publication aimed at the legal community and it is hard not to find a story that details how outsourcing is the new wave of the future that will fundamentally change the way that law firms provide services to their clients and partners.
Law Firm Mergers and the Economic Outlook for 2019
By Marcus Dyer
As law firms endeavor to survive in an increasingly competitive world, one strategy picking up steam is the law firm merger. In this article, we recap law firm merger activity in 2018 and consider the economic outlook for law firm mergers for 2019.
IRS Issues New Plan 457(f) Non-Profit Exam Guidelines
By Lawrence L. Bell
Planning for executive benefits for top hat employees at non-profit organizations has undergone a frenzy of regulatory roadmap changes. Nonprofit NonQualified Benefits are largely directed and controlled by IRC §457.
Orion Prebill Survey Shows Law Firms Are Troubled by Inefficient, Paper-Heavy Prebilling Processes
By Kevin Harris
Prebilling, the process of generating invoice drafts and circulating them for annotation/adjustment, is one of the most important monthly tasks a law firm conducts. Since prebilling involves bringing money into the firm, the more efficient the process becomes, the better off the law firm is financially.
Clients Drive Information Governance: Business Benefits Flow to Firm
By Stephen Cole
Information governance and the protection of corporate data are top concerns for law firms. To ensure standards are met, some clients are now tying payment to compliance with Outside Counsel Guidelines (OCG). OCG have moved from guidelines to actual contracts that provide for indemnification of the client for cyber breach and violation of privacy laws.
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