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Features
For years, customer relationship management (CRM) in law firms has often been viewed as a glorified Rolodex — a necessary but often underutilized system primarily seen as a data repository. However, as firms seek to drive business development, client engagement and revenue growth, CRM needs to evolve into a strategic growth platform.
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Mastering AI tools is vital for law firms striving to remain competitive. The increasing demand for prompt and effective services means firms that do not adapt may fall behind.
Features
On Jan. 14, 2025, the Treasury Department issued final regulations designating certain related-party partnership basis shifting transactions as “transactions of interest.” Although this designation does not affect the substantive tax characterization of these transactions, it imposes significant reporting requirements on taxpayers and their advisors.
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There’s no doubt many firms put together outstanding financial performances last year. Still, many bottom lines are getting a boost from flat or negative equity partner growth.
Features
Small law firms can often feel outgunned when competing against the massive marketing budgets of larger firms. Luckily, the digital landscape has helped to level the playing field. While bigger firms pour money into traditional advertising, smaller practices can build their brand and attract clients through savvy use of social media and content marketing, without breaking the bank.
Features
Short of a seismic financial shock, hefty law firm billing rate increases are seemingly here to stay, much to the chagrin of clients and their general counsel. But that’s not to say that market conditions aren’t evolving to challenge the status quo of large rate increases — and in the words of one consultant advising corporate law departments, you don’t know you’re in a bubble until it pops.