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Accounting and Financial Planning for Law Firms

Features

ABA Issues New Ethics Opinion On Billing for AI-Supported Work Image

ABA Issues New Ethics Opinion On Billing for AI-Supported Work

Mimi Lamarre

A new American Bar Association ethics opinion touches on what has been a risky business area for Big Law in the emergence of generative AI: billing and fees related to AI-supported legal work.

Features

Leveraging Law Firm KPIs for Business Success Image

Leveraging Law Firm KPIs for Business Success

Peter Oliva

Utilizing Key Performance Indicators (KPIs) in a law firm is crucial for evaluating performance, profitability, client satisfaction, and overall success. Understanding which attorneys are the most profitable, which matters are the most lucrative, and the cost of acquiring new clients is crucial for making informed business decisions.

Features

Staying Nimble and Embracing Values Are Essential for Mid-Size Law Firms' Survival Image

Staying Nimble and Embracing Values Are Essential for Mid-Size Law Firms' Survival

Michael Ferachi

In the ever-evolving legal landscape, mid-size law firms find themselves at a critical juncture. Seismic shifts, accelerated by the pandemic, have reshaped the very fabric of our industry. Now, more than ever, agility, innovation, and a steadfast commitment to meeting client needs are not just desirable traits, but essential for business survival.

Features

5 Ways AI Can Strengthen Revenue Generation and Client Relationships Image

5 Ways AI Can Strengthen Revenue Generation and Client Relationships

Jody Glidden

Maintaining consistent communication with clients can be time-consuming for most law firm professionals. Balancing this task with other competing responsibilities becomes challenging when case management, administrative duties, and strategic planning also demand the lawyer's attention. The time has never been better for firms to start introducing technology, like AI, to improve their overall business.

Features

CLE Shouldn't Be the Only Training Mandatory for Attorneys Image

CLE Shouldn't Be the Only Training Mandatory for Attorneys

Sharon Meit Abrahams

State law bar associations mandate Continuing Legal Education (CLE) for attorneys to ensure that legal professionals remain informed of the evolving laws and to maintain a high standard of professional competence. Unfortunately, "how to be successful" is not taught in law school nor approved as a CLE topic.

Features

Diversity Gains Continued, But Slowed, In 2023 Image

Diversity Gains Continued, But Slowed, In 2023

Dan Roe

Results from American Lawyer's Diversity Scorecard The pace of growth slowed for representation of diverse attorneys in 2023, but every underrepresented group still made gains.

Features

CRM Success: A Playbook for Disrupting Traditional CRM Image

CRM Success: A Playbook for Disrupting Traditional CRM

Kiara Hughes

Here's the playbook for disruption: Take attorneys out of the equation. Stop building CRM that succeeds or fails on their shoulders. We need to shift the focus and, instead, build the technology from the ground up for the professionals who actually use it: marketing and business development.

Features

How Law Firms are Reducing Redundant Real Estate by Bringing Onsite Support Services Back to the Office Image

How Law Firms are Reducing Redundant Real Estate by Bringing Onsite Support Services Back to the Office

Tim Haught

The COVID-19 pandemic disrupted the industry in many ways, pushing law firms to rapidly adopt remote work solutions, digital transformation and cost cutting measures. While some adjustments proved effective, most industry leaders are prioritizing higher office attendance as a measure for future success.

Features

What Your Clients Need to Know About Succession Planning Image

What Your Clients Need to Know About Succession Planning

Nanette Miner

Business people are often confused about the differences between succession planning and exit planning. Attorneys are in the unique position of being able to guide their clients through the confusion.

Features

Improving Billing Security Improves Client Experience Image

Improving Billing Security Improves Client Experience

Saurabh Mehra

Client service doesn't end before the invoice goes out. Every interaction is an opportunity for the firm to provide the best experience current knowledge and technology is able to deliver — and since security is a key component of what clients want, security needs to be part of that equation.

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