Why Profitability Matters for Law Firms
Profitability is one of the most critical measures of success for any law firm. But while it’s easy to fall into the mindset of “more billable hours equal more profit,” the reality is more complex. Simply focusing on the standard math equation of revenue minus expenses equals profitability doesn’t
As the legal landscape becomes more complex and competitive, adopting modern law practice management software is one of the best ways to help your law firm keep up. Legal technology can greatly increase your competitive advantage, make your operations more efficient, and continuously enhance client service.
However, this journey isn’t as simple as purchasing the
In today’s legal landscape, staying competitive and efficient is crucial. If your firm isn’t using an all-in-one legal practice management software to streamline firm and client operations, you’re missing out on the highest level of efficiency and competitive advantages to set your firm apart. The cost of not having such software is too great to
As you search for new law practice management software, you shouldn’t settle for a painful implementation process — which is the largest obstacle preventing law firms from embracing new and better software.
With the right components in place, a legal software platform can provide an accurate and efficient implementation with minimal business disruption — so
Every service-based business wants to get paid faster, and law firms are no different. Imagine getting paid 20 percent faster. What kind of a difference would that make to your law firm’s cash flow, profitability, and ability to invest in growth?
One of the best ways to ensure an efficient billing and payment cycle
Modernizing your law practice management software is an enticing — and strategic — end goal. Whether that means moving your firm’s data from a server to the cloud or upgrading to an all-in-one law firm management and growth platform, you can significantly enhance efficiency and client service with modern software.
But all the features within
The usage of artificial intelligence has entered the legal field, and it will change the way attorneys and law firms operate for good. Now is the time to create a roadmap for adopting AI to make sure your firm is ready. Integrating this leading-edge technology can create benefits for your firm and clients, and you’ll
Basic reporting functionality isn’t enough to help law firms unlock the full potential of their data. Today’s law firms need robust reporting tools that help law firm leaders extract actionable insights, optimize resource allocation, and enhance overall performance. And they need tools that align with their strategic priorities and operational requirements.
Six reporting capabilities can
A recent study from Gartner found that almost half of workers struggle to find the information they need to effectively perform their job. Every minute that your timekeepers spend chasing down documents is a minute they can’t bill or spend delivering superior service to a client. This can hamper your firm’s productivity, force timekeepers to
A recent study from Gartner found that almost half of workers struggle to find the information they need to effectively perform their job. Every minute that your timekeepers spend chasing down documents is a minute they can’t bill or spend delivering superior service to a client. This can hamper your firm’s productivity, force timekeepers to
In most law firms, efficiency, productivity, and profitability are measured in ticks of the clock. Yet while time tracking is a law firm’s lifeblood, it’s also the bane of timekeepers’ existence. Many attorneys still track their time manually and wait till the last minute to figure out where all the hours went. By that point,
Efficiency and precision are the hallmarks of legal billing software. Having the right tools can make the difference in streamlined processes and faster collections. But while most legal billing software can help you accomplish these goals, top-of-the-line legal billing tools go above and beyond with a comprehensive suite of features that transform the way your
Strategic financial planning is essential to ensure firm stability and growth. Modern law firms need precise financial data to target opportunities to improve their bottom line and set them up for success, all of which can be accomplished with industry-leading law practice management software (LPMS).
Here are five steps to optimize your law firm’s financial
Accounting is one of the most tedious and stressful parts of running a law firm. Thank goodness there’s technology to handle some of the most burdensome tasks. If you’ve already got a practice management application that handles your accounting, it is taking care of every task it possibly could? Is it maximizing your time? If
Strategic financial planning is essential to ensure firm stability and growth. Modern law firms need precise financial data to target opportunities to improve their bottom line and set them up for success, all of which can be accomplished with industry-leading law practice management software (LPMS).
Here are five steps to optimize your law firm’s financial
As the year’s end approaches, it’s time for law firms to close their books and start end-of-year audits. This annual task ensures that accounts are balanced and sets the stage for a financially sound start to the new year. However, this process can be stressful if your law firm doesn’t follow accounting best practices.
Here’s