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

4-tips-to-immediately-raise-your-law-firms-realization-rates

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

legal-technology-key-to-compliance-risk-management-according-to-survey

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

2nd-annual-e-discovery-day-celebrates-key-role-in-litigation

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

5-tips-to-motivate-time-keepers-and-improve-law-firm-profitability

“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 »

The Value of KPIs in the Legal Department

the-value-of-kpis-in-the-legal-department

Most corporate legal professionals see the value in using data to improve performance; however, Hyperion Research data indicates less than one-third of corporate legal departments are actually using data-driven analytics. Yet 58% of the same survey respondents believe that company executives understand the risks and opportunities presented by their legal matters, and more than half feel confident that they understand ... Read More »

Law Firms Turn to Boutique Providers for eDiscovery Expertise

law-firms-turn-to-boutique-providers-for-ediscovery-expertise

It’s common for large law firms to maintain a team of experts in the area of eDiscovery, with some firms even building dedicated practices to assist clients with their eDiscovery challenges. But for small and midsized law firms, it’s difficult to justify the allocation of resources needed to create a full-time, in-house team. For firms of this size, an increasingly ... Read More »

ACC Study: Law Departments to Display Strategic Business Value in 2017

acc-study-law-departments-to-display-strategic-business-value-in-2017

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 »

A Blueprint for Legal Department Budgeting and Forecasting – Part 1

a-blueprint-for-legal-department-budgeting-and-forecasting

Are you accountable for tracking your legal department’s spend? Are you currently using matter budgets, but don’t feel that you have a good way to predict your organization’s future legal spend accurately? Or, is your legal department maybe one of the approximately 40 percent that don’t do any budgeting at all? If you fall into any one of these groups, ... Read More »

ABA Legal Tech Survey Finds Use of Predictive Coding Still Related to Size of Case

Predictive Coding

The 2016 Legal Technology Survey Report, published by the American Bar Association’s Legal Technology Resource Center (LTRC), documents a common misconception in the legal industry that technology assisted review software tools are only useful in large cases. “There is a myth in our industry that predictive coding and other smart review tools are only useful and cost-effective in large-scale commercial ... Read More »

Save 50% on Firm Manager and Be Automatically Registered for CLE Webinars Led by Ann Guinn

save-50-on-firm-manager-and-be-automatically-registered-for-cle-webinars-led-by-ann-guinn

“Don’t let clients determine the value of your work,” cautions Solo/Small Law Firm Practice Management Consultant and National Speaker for G&P Associates, Ann Guinn. Instead, Ms. Guinn suggests thinking about what discounting your legal services will mean to you as a small business owner, rather than what it will mean for your clients. In other words— “Bill clients and get ... Read More »