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The Key to Success in a Client’s Market, Know Your Firm’s Financials

the-key-to-success

Note: The following is a digest version of the post we published last Wednesday, November 9. On the chance that a portion of our Business of Law Blog readers may have been distracted by the day’s election news, we’ve decided to provide a second opportunity to read this valuable information on law firm economics. Law firms ought to focus less ... Read More »

5 Ways Government Agencies Can Automate FOIA Compliance

5 Ways Government Agencies Can Automate FOIA Compliance

Complying with the Freedom of Information Act (FOIA) is an important way that our government agencies serve our democracy, but the fact is that complying with these mandates is incredibly time-consuming and expensive. A 2016 report from the U.S. Department of Justice found that the 100 agencies subject to FOIA transparency requirements received more than 713,168 requests in 2015 while ... Read More »

3 Reasons Law Firms Should Care About Passive Data Capture

3 Reasons Law Firms Should Care About Passive Data Capture

As they say in the legal profession, time is money. While most attorneys are measured by their proverbial “books of business,” the last thing they want to do is spend valuable time updating their client rolodexes. After all, clients pay top dollar for expert legal counsel, not data entry. Last week, we shared an anecdote about a database administrator at ... Read More »

Why Understanding Economics is the Key to Law Firm Profitability

Why Understanding Economics is the Key to Law Firm Profitability

“One of the biggest flaws with alternative fee arrangements (AFAs) not succeeding in law firms, is most law firms don’t understand their economics,” says Frederick J. Esposito, Jr., CLM, executive director of Long Island, New York and New Jersey based regional law firm, Rivkin Radler, LLP. Mr. Esposito believes law firms focus too heavily on rate setting. By contrast he ... Read More »

Streamlining Technology Procurement for Government Agencies

Streamlining Technology Procurement for Government Agencies

On October 24th, the General Services Administration (GSA) released its “Making It Easier to do Business with the Government Report,” summarizing accomplishments by the program last year and goals for next year. As reported by Federal Times, “the GSA’s plan to streamline acquisition is about to find its second gear.” At the federal, state and local levels, government agencies are ... Read More »

How to Go from 40K Known Law Firm Contacts to 250K Using InterAction IQ

InterAction IQ

Lateral hiring is a tried and true growth strategy for many law firms and with good reason. Each time a lateral is hired, that attorney brings a wealth of new and existing connections which ideally helps the firm grow its business pipeline. The only trouble is this strategy assumes that attorneys who are newly hired as laterals to the firm ... Read More »

Data Security Audits: 4 Ways We Can Work Together

Data Security Audits

Data security audits can be onerous and burdensome, but they’re a necessity of business practice — particularly in the legal industry, where confidential documents reside on virtually every desktop, laptop and notebook. To help law firms understand their responsibilities, LexisNexis recently partnered with Lewis Brisbois to host a CLE panel event in Los Angeles: “How to Interpret and Meaningfully Comply ... Read More »

New Time Matters Pro Certification Offers Insider Secrets, Career-Long Value

New Time Matters Pro Certification Offers Insider Secrets, Career-Long Value

Former Second Lady of the United States, Abigail Adams once said, “Learning is not attained by chance. It must be sought for with ardor and attended to with diligence.” For all enthusiasts  of the LexisNexis Time Matters legal practice management software seeking to become professional administrators of the Time Matters software for their firms, whether as new users or perhaps ... Read More »

Covering the Bases – Hyperion Benchmarking Identifies Key Contributors to Legal Tech Adoption

Covering the Bases – Hyperion Benchmarking Identifies Key Contributors to Legal Tech Adoption

“Build it and he will come.” Although the now-classic maxim may have rung true in the movie, “Field of Dreams,” that’s certainly not always the case in real life. Consider, for instance, a new ballgame in which the “he” (or she, for that matter) is a lawyer, and the destination is adoption of his or her organization’s latest legal technology ... Read More »

LexisNexis Unveils New and Improved Time Matters 16

LexisNexis Unveils New and Improved Time Matters 16

For all those Time Matters users out there who’ve missed having a “one-click ability” to view upcoming events and daily “ToDos” for multiple staff for a single day, we have some good news to share… LexisNexis has unveiled Time Matters 16, a new and improved iteration of its custom solution for case, matter management and billing for law firms which ... Read More »