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As a matter of practice, law firms generate and store incomprehensible amounts of data. Most, if not all, of that data has been digitized and many firms that recognize the untapped value of their data have begun to leverage sophisticated technologies to mine it for reusable work product and valuable insights. While most large law firms with 50 or more attorneys are currently mining data, not all of them are doing it well. Data mining is a relatively new practice in the legal space and the data profiles of firms are highly variable from one organization to another, so identifying the right tools and prioritizing initiatives can be challenging.
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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.