Somewhere between $100 billion and $300 billion change hands in legal every year, though estimates vary, depending on what’s being counted. Still, at either end of the spectrum, it’s a sizable volume of money for important work. In light of those estimates, it’s not especially revealing to suggest the legal market is mature, but the choice of profitability levers to ... Read More »
The nineteenth-century French journalist, Jean-Baptiste Alphonse Karr, famously wrote, “The more things change, the more they stay the same.” While that may apply to many situations, it doesn’t tend to hold water when talking about corporate dynamics. Take the PepsiCo global snack food and beverage maker, for example. As related in a recently published LexisNexis case study, the company has ... Read More »
Note: The following is a guest post from Jeff Norris, senior director of information security for LexisNexis Managed Technology Services, and Greg Inge, managing director of information security consulting firm CQR. Most law firms have taken steps to assure business continuity and to recover from emergencies. The ABA Law Practice Division has gone to great lengths to assist by making available ... Read More »
Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. If the alphabet soup of information technology industry standards makes your head hurt – SSAE 16, SOC 1, SOC 2, ISO 27001, ISO 9001 – you’re not alone. It’s easy to get confused by all of the combinations of ... Read More »
Note: The following is a guest post by Jeffrey Brandt. De Sktop Image stars in this science fiction thriller where he seeks to hunt down all variations of himself across the organizational universe. By killing off all of the other Images, his other selves, (becoming the last version) and absorbing their energies, he believes he will become an immortal godlike being ... Read More »
Is IT a strategic resource for law firms? In classic legal fashion, the short answer is “it depends.” It depends on who is asked. The discussion, and seemingly the perspective of attendees, shifted on the merits of the arguments made during the ITLACON session “Large Law Discussion.” The following paraphrases the conversation from notes taken during the session and from ... Read More »
Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. In a recent survey of its members, the National Association of Corporate Directors (NACD), which provides information resources to more than 15,000 corporate directors in the U.S., found that just 11 percent of corporate directors believe their boards have ... Read More »
“One poor guy,” a legal administrator was spending six hours a day, twice a week running compensation reports for partners. That amounts to 12 hours a week, or nearly 50 hours per month, where a survey of small law firms suggests most firms spend eight hours a week on the entire billing process, let alone running a single report. When ... Read More »
For the better part of a couple decades, Matt Thompson has worked with large law firms to implement sizable technology projects in support of smarter business development – and has a wealth of tech experience beyond it. Today his role centers on leading a Client Success Team Program and we managed to get a hold of him in-between client conference ... Read More »
If the equation for return on investment (ROI) equals the gain from an investment, minus the cost of the investment, and in turn divided by the cost of the investment, then the ROI for law firm practice management could exceed 4000%. This estimate comes from a report published by Blue Hill Research titled Building a Business Case for Law Practice ... Read More »
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