Accounting and Financial Planning for Law Firms

Organizations are buying technology but failing at transformation. The difference between the 48% that succeed and the 52% that don’t isn’t the software. It’s how they manage the human side of change.

As law firms move from experimentation to real dependence on AI in their workflows, the bar is rising. The mandate is no longer “Can AI do it?” Now, it’s “Can AI help us do it precisely, responsibly and in a way that actually moves the business forward?” That’s where the human factor becomes nonnegotiable.

Litigation is now digital, but is it more efficient? With hybrid work, AI enhancements, and billions of dollars invested in legal tech, are we achieving the right goals of empowering litigators to spend more time on productive (and billable) work? The answer is clear — and surprising: no.

Many, but not all, professional associations have a class of membership for people and businesses not holding a license to practice in the field yet do provide services frequently used by members of the profession.

Current restrictions constrict access to capital and stifle the innovation needed to rise to these challenges. They also hinder recruitment by preventing firms from offering equity stakes or profit-sharing options that top talent, lawyers or not, demands. Worse, they breed insularity. No other sector dismisses highly valued experts, for example, in finance, marketing and technology, by defining them by what they are not — “non-lawyers”? We should stop.