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This article focuses on what a firm can do now that will improve future firm economics regardless of what the future may hold. It identifies three areas that offer the great opportunity for improving a law firms' economics and better positioning them for whatever the future may bring.
Features
Beyond improving efficiency, new advancements in Robotic Process Automation, or RPA, are helping lawyers do more <i>billable</i> work without hiring more people.
Features
This article focuses on what a firm can do now that will improve future firm economics regardless of what the future may hold, identifying three areas that offer the great opportunity for improving a law firms' economics and better positioning them for whatever the future may bring.
Features
The legal industry saw greater revenue growth during the first quarter of 2019 than it did to start the strong year of 2018. However, the drivers of that growth were much different, as the demand growth that characterized 2018 gave way to a demand decline during the first quarter of 2019, and much of the revenue growth came in the form of cash collections from 2018 inventory.
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6 Common Law Firm Accounting Practices That Need to Be Re-evaluated There are a number of tried and true practices in law firms that need more thinking. Not because law firm managers are stupid; it's just that some practices need to be periodically re-evaluated and adjusted to reflect the changing times.
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<b><i>Part One of a Two-Part Article</b></i><p> For a variety of reasons, many law firms and lawyers struggle to effectively cross-sell or cross-service. This article defines the specific and best actions lawyers and law firms can take to expand client relationships.
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<b><i>What Lawyers Can Learn From Dentists</b></i><p>Nobody enjoys visiting the dentist, but everybody knows you still must pay him or her on the day of service. Attorneys, however, have historically let the client lead the payment dance. Lawyers do the work and hope/expect to be paid without waiting too long or discounting the invoice too steeply. What can we do differently?
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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.
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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.
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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.