When it comes to small law accounting there are two management styles. The old familiar way and the better way. “People tend to shy away from accounting,” says Certified Public Accountant, Deborah J. Schaefer. “But all you have to do is follow the money.” The trouble is, solo and small firm attorneys often get stuck in old comfortable patterns. There ... Read More »
The answer to this year’s success may well lie in last year’s financial reports. According to small-firm success strategist Ann Guinn, attorneys can take steps to increase their profitability and improve client satisfaction this year by closely examining the firm’s previous financial investments. She tells the cautionary tale of an attorney who spent a whopping 97 percent of her firm’s ... Read More »
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 »
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 »
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 »
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 »
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 »
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 »
“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 »
A new Association of Corporate Counsel (ACC) study indicates corporations today praise their legal department most highly for adhering to budgets, providing strategic counsel to the business, applying innovation to solve business challenges and using management practices to drive greater efficiency. According the ACC Law Department Management 2016 Report, showcasing success in these areas can help the legal department demonstrate ... Read More »
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