Home » Tag Archives: law firm billing

Tag Archives: law firm billing

Law Firm Client Value Guarantee: Hare-Brained or Genius?

Client Value Guarantee Hare-Brained or Genius

A survey we conducted last year found law firms that discount have more past due clients.  What if law firms didn’t discount – but afforded the opportunity to clients to write down invoices as they see fit? Enter the client value guarantee, which Adam Smith, Esq. points out many will think “is a hare-brained idea.” The legal economic consultancy describes ... Read More »

Why an Attorney Referred an Engineer to Legal Billing Software

Why an Attorney Referred an Engineer to Legal Billing Software

Note: The following is a post from contributor Carla Del Bove, who provides support to the business of law software product line within the LexisNexis software division. Four hours a month. That’s how long Christine Ruther, owner of C&R Engineering in California, a solo biomedical engineering consulting firm, took to run billing for her biomedical consulting business (lawyers report an average of 8 hours ... Read More »

What are the Going Law Firm Billing Rates by Practice Area?

Going bill rates by practice area - small

The first of six key metrics in the newest edition of the Enterprise Legal Management Trends Report covers the going law firm billing rates by practice area.  The data is based on $18 billion in legal invoices processed through the CounselLink systems since 2009. The data presented in the chart nearby (click here or image for higher resolution), is a ... Read More »

Predictable: Law Firm’s Invoices Model Mobile Phone Billing Plans

Law Firm’s Invoices Model Mobile Phone Billing Plans

Attorneys can learn a thing or two about billing from an unlikely source, says Hans Gillinger, attorney and founder of the Law Offices of Hans. A. Gillinger, PLC. Mr. Gillinger, who represents families of children with special needs and learning disabilities in California, believes modeling legal bills after popular mobile phone plans that offer “roll over minutes” can be used ... Read More »

Friday Share:  A Legal Billing Conference in Illustration

A Legal Billing and Finance Conference in Illustration

What happens in Las Vegas isn’t staying in Las Vegas – at least if it was captured in an illustration format.   A short while ago we published the LegalTech Show in Illustration and earned good feedback – there’s power in doodling. When it came time to host more than 100 law firm billing, accounting and finance professionals for the 2015 ... Read More »

10 Tips for Improving Law Firm Invoicing and Billing

10 Tips for Improving Law Firm Billing and Invoicing

The ABA Journal has a full page graphic in this month’s print edition: Many small firms face big payment problems. The graphic is based on data from a LexisNexis billing survey of small law firms published in the second half of last year.  In contrast to billable hours survey previously conducted, this survey aimed to learn about the billing and ... Read More »

5 Essential Practice Management Reports for Small Law Firms  

5 Essential Practice Management Reports for Small Law Firms

A recent survey of 309 small law firm billing practices in the U.S. found that about 80% use software for legal billing. That’s great news and as a legal technology vendor we are, unsurprisingly, big advocates of using software. About 67% – still a wide majority – say this software is “legal specific software” meaning it was designed for law ... Read More »

Infographic Friday: Challenges of Law Firm Billing

Infographic Friday Challenges of Law Firm Billing-header

Invoicing and billing present steep challenges for law firms.  According to a recent law firm billing survey we conducted: 73% of law firms report experiencing past due accounts 58% say they spend too much time on billing Roughly half of small law firms say about 4 in 10 accounts are past due 82% report client financial hardship as the root ... 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 »

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 »