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Insurance Best Practice: How to Implement AFAs in Phases

Insurance Best Practice How to Implement AFAs in Phases

According to data from the latest Enterprise Legal Management Trends Report, the insurance industry experiences the lowest volatility in legal fees.  The report notes “volatility is a calculated indicator of blended rate variability.  Higher numbers suggest a better opportunity to negotiate rates and or the assigned time keeper mix.” On this graph, the vertical markets of “Regulatory & Compliance” and ... Read More »

Top 10 #BusinessofLaw Posts You Might Have Missed in September

Most Read Blog Posts for September 2014

We’re a bit slow on the draw in posting a “most read” post for September, but rest assured, it’s not out of idleness!   The fall is typically a busy season for product announcements, including new software releases for the LexisNexis® PCLaw® and Firm Manager® products, for example: LexisNexis Releases PCLaw 14 Featuring Batch Email Billing LexisNexis Firm Manager Provides Small ... Read More »

Infographic Friday: Law Firm M&A Billings Nearly Double

Infographic Friday MA Billings Nearly Double

M&A is back in the headlines among the legal trades. “In-house counsel and investment bankers agree that the merger and acquisition stars are aligning to create an environment more conducive for deals, according to one M&A expert,” according to ALM’s Corporate Counsel in an article titled Big Deals Put 2014 M&As at $2.5 Trillion and Rising. The Corporate Counsel article ... Read More »

A Wall Once Filled with Legal Periodicals

time matters legal

Does the legal profession have anything in common with the medical profession? More than you might think, according to Robert T. Farrell, an attorney who owns his own general practice law firm in upstate New York. Mr. Farrell, who earlier in his career, worked as an emergency services paramedic, says access to vital information and data is important for first ... Read More »

Trending Legal Spending: Examining the HBR Consulting Study

CounselLink Corporate Counsel Analytics

Around the world corporate legal spending grew by 2% in 2013, according to a new survey by HBR Consulting.  How that money is being spent makes all the difference – inside legal spending grew 5% while spending on outside counsel dropped by 2%. A narrower look at corporate legal spending within the U.S. produced similar results.  The survey found that ... Read More »

An Accountant that uses Law Firm Management Software

Meet an Accountant that uses Law Firm Practice Management Software

Why would a tax accountant use legal practice management software to manage his firm? It’s a question we posed to Lynn Jones of Summit Financial Services, LLC who’s been using the LexisNexis® Time Matters® all-in-one-practice management solution to manage his accounting firm for the better part of the decade. While some may be scratching heads wondering why an accountant would ... Read More »

SlideShare Friday: 5 Key Trends in Legal Software

5 legal software trends

There are many legal industry trends and among those of special interest to this division of LexisNexis are those that revolve around software. At the 2014 ILTA conference the top executive in our software division had an opportunity to present to a core group of customers that had also gathered at the show.  For some in attendance, it was a ... Read More »

5 Solid Tips on Law Firm Billing and Invoicing

5 Solid Tips on Law Firm Billing and Invoicing

Should a law firm charge a client for the two bottles of water consumed over the course of a long meeting?   Probably not – at least according to Keith Lee, an attorney who relayed this example, in a post on Above the Law called Do You Build Invoices Or Relationships? For all the challenges of law firm billing it’s worth ... Read More »

Analyst Research:  The ROI of Law Firm Practice Management

The ROI of Law Firm Practice Management Tools

What would an additional 48-96 hours of billable time mean to small law firm over the course of a year? In a new report titled, Building a Business Case for Law Practice Management, analyst firm Blue Hill Research demonstrates those extra hours could add up to more than $21,000 in annual revenue at the high end of estimates. How does ... Read More »

Law Firm CRM Webinar:  Who Knows Who?

Law Firm CRM Webinar Who Knows Who

A big part of the role for marketing and business development staff is to know who’s who and who knows who.  This is often easier said than done, especially in larger organizations. Technology, and specifically law firm CRM tools, ought to be capable of helping staff and rainmaking attorneys figure this out.  We call this “relationship intelligence” which means though ... Read More »