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Corporate Law Departments Rank Financial Metrics Most Important

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A new LexisNexis CounselLink study conducted in partnership with the Corporate Legal Operations Consortium (CLOC), indicates corporate legal operations professionals rank financial metrics as most important to the legal department. Participants were asked to rate 15 key metrics on a scale of 1 to 10 based on their level of importance to the business. Each key metric outlined in the ... Read More »

Firm Manager Named TL NewsWire Top 25 Product of 2016

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There’s something very satisfying about starting off the New Year with positive praise. In this case, we’re happy to announce that LexisNexis® Firm Manager® online practice management software was selected as a TL NewsWire (TechnoLawyer) Top 25 Product of the Year for 2016. The award results from the feedback of nearly 12,000 subscribers to TL NewsWire who voted for Firm ... Read More »

6 Tips to Cleaner Law Firm Financials in 2017

6 Tips to Cleaner Law Firm Financials in 2017

Every New Year offers a clean slate to do things better in the future. For solo and small firm attorneys, this is especially true when it comes to managing the firm’s year-end accounting process. According to Tyler Chapman, financial analyst and business valuation professional for LexisNexis, simply putting a few efficiencies in place throughout the year can help attorneys get ... Read More »

Fear Not the Cloud: New Import Tool Eases Transition to Firm Manager

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Calling all attorneys who are hesitant to move their firms to the cloud for fear of the long and dreaded data migration process ahead. We have one message to share—fear not the cloud. LexisNexis just released a new version of its Firm Manager practice management software that now enables attorneys to take their law firms into the cloud-based solution in, ... Read More »

Survey Finds 55% of Law Firms Outsource Some or All of eDiscovery Functions

More than 7 in 10 legal administrators say that funds from their firms’ operations budget must be allocated to activities related to electronic discovery, and more than half are investing in outsourcing some or all of their eDiscovery functions, according to the 2016 Report on Trends Impacting the Legal Industry. Novitex and the Association of Legal Administrators (ALA) conducted the ... Read More »

Happy Holidays

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The LexisNexis Business of Law Blog staff and contributors, along with the entire LexisNexis Software Solutions team, thank you for your continued interest and support this past year. We extend our heartfelt seasons greetings and our hope that you enjoy a happy, healthy and prosperous New Year. We look forward to continuing to share legal industry news, insights and important ... Read More »

4 Tips to Immediately Raise Your Law Firm’s Realization Rates

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Understanding your realization rate is an absolute must know for solo and small firm attorneys who want grow and maintain profitable law practices, according to Ann Guinn, success strategist for small firms and national speaker at G&P Associates. During a recent webinar in partnership with LexisNexis Firm Manager, Ethical Billing for the Small Firm, Ms. Guinn said that, unfortunately, many ... Read More »

Legal Technology Key to Compliance Risk Management, According to Survey

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Inside counsel believe technology can improve risk management in meeting their compliance obligations and frequently base their new software purchasing decisions on the dual keys of reliability and security, according to AlixPartners’ fourth annual Litigation and Compliance Practices survey. The survey was conducted of 300 general counsel and compliance officers from companies in North America and Europe with revenues in ... Read More »

2nd Annual E-Discovery Day Celebrates Key Role in Litigation

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On December 1st, legal and IT professionals nationwide participated in “E-Discovery Day 2016,” the second annual celebration of the growing role of eDiscovery in the legal process. The Association of Certified E-Discovery Specialists (ACEDS) delivered a number of informative webinars that provided a look back at the evolution of the eDiscovery industry over the past decade, an in-depth look at ... Read More »

5 Tips to Motivate Time Keepers and Improve Law Firm Profitability

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“If you can’t remember what you had for breakfast on October 15th, then chances are you won’t be able to remember how much you billed clients on that same day,” according to Nancy Griffing of 35*45 Consulting, during a recent webinar focused on law firm profitability. Because of this, attorneys lose anywhere from 55 to 70 percent of their actual ... Read More »