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Infographic Friday: Billing Rates Up 4%, But So Are Discounts

law-firm-differentiation-means-rate-pressure

Note:  The following is a guest post by Larry Bodine; the infographic, as customary with our Friday Share series, follows below.  Law firm billing rates are up in all firm sizes – especially at “top of the market” megafirms – but then, so are discounts, according to a pair of influential surveys of the legal profession. Fees at megafims have ... Read More »

3 KPIs to Make a Law Firm More Profitable

3 KPIs to Make a Law Firm More Profitability

It almost sounds like one of those whacky “Lose weight with this one weird trick” internet ads: Some law firms are improving profitability without having to raise billing rates, win new business or without having attorneys bill more hours. These partners are improving their firm’s bottom line by rethinking efficient ways to manage the firm. A Law Firm, a Business ... Read More »

Study tells a Story about Law Firm File Sharing

leixsnexis law firm file sharing

If data could speak for itself…it might tell a story. The story that unfolded from a survey of law firms we published today goes like this: File sharing is increasingly important in law firm collaboration and while those firms are keenly aware of the consequences of IT security risks, unencrypted email – reinforced with a statement of confidentiality – remains ... Read More »

A Tech Tale of Two Law Firms

A Tech Tale of Two Law Firms

Some attorneys have more than one story – before technology and after. Lynn M. Myrick previously worked in a six-attorney law firm that Geoffrey Moore might be described as a laggard. Client notes were kept in folders and filing cabinets.  Time was entered on printed time sheets. In order to find information the firm’s staff need to sift through each ... Read More »

Friday Share: New Survey finds Admins Rule Law Firms

ALA polling buttons

More than just the glue that holds law firms together — administrative personnel arguably “rule” law firms.  This according to a new LexisNexis survey conducted this week at the 2014 ALA Annual Conference & Exposition. Attendees of the conference that visited the LexisNexis booth were invited to remove a button from a jar in order to cast their vote.  A ... Read More »

12 Essential Metrics for Law Firm Rainmakers

law firm rainmaker metrics

There are two overarching components to running a profitable law firm according to Stephen Fairley of The Rainmaking Institute. Those components are the right people and the right systems. People run the systems he said, but the systems run the law firm.  Removing either of these components and it becomes even more challenging to maintain a financially successful law firm. ... Read More »

9 Takeaways from the Altman Weil Law Firms in Transition Study

Law Firms in Transition, Altman Weil

Altman Weil recently released an updated Law Firms in Transition Study – a sweeping 131 page report – that paints a rather challenging portrayal of the competitive legal landscape for large law. Consider the following reactions in the press: >>>Law360: “The lessons for BigLaw of recent years about tougher competition, commoditization of legal work and billing trends are sinking in ... Read More »

6 Emergent Trends from a Corporate Legal Department Conference

6 Emerging Trends from a Corporate Legal Department Conference

Bald Mountain stands in stark contrast to the gentle green foothills where Northern Virginia begins to cede terrain to the edges of the Blue Hill Mountain range.  With an elevation of about 770 feet, it provides a commanding view of the surrounding area. Examining trends in the legal industry from higher vantage point, as Toby Brown suggested, seems like sage ... Read More »

CASL: The Million Dollar Email

Legal Marketing The Million Dollar Email

Note: The following is a guest post by David Jacobs. Unless you’re based in Canada, or doing a lot of business with people in that country, you may not be aware of Canada’s Anti-Spam Legislation (CASL). The first phase of this new comprehensive law goes into effect July 1st in what many would agree is a necessary step to curtail ... Read More »

Infographic Friday:  A Dramatic Rise of Mobile in Legal

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The time for mobile is now – according to a new infographic – The State of Mobile Technology in the Legal Industry.  The infographic was created by Bellefield and we first spotted it in industry trade publications such as Legal IT Professionals and Legal IT Insider. It’s a good reason for us to return to an infographic for this week’s Friday ... Read More »