Law firms, like any other business, need to be aware of, monitor and act on key performance indicators (KPIs). While firms are typically on top of measuring billable hours, there are many other KPIs that can help you better manage revenues and expenses. Knowing how — and when — to measure and benchmark a firm's KPI's against industry trends and best practices will help modify and improve firm performance. KPIs can deliver a treasure trove of information to law firm administrators and partners — the key is knowing what to look for and how to report your findings in a format management can understand.
So, where should your firm start?Read More
Using a manual approach to managing legal projects is fraught with potential issues, as stated in a 2014 ABA article: “… such a seat-of-the-pants approach can place a lawyer at a significant disadvantage, make the work unprofitable and even risk the loss of the client relationship.”Read More
With some analysts’ reports predicting sluggish demand for legal services in 2017, helping your firm grow is going to take more than raising the hourly fee. As a law firm administrator, you have an opportunity to improve and refine your firm’s processes and efficiencies to build a solid, and profitable, operational infrastructure that adds to the overall firm growth goals you set at the beginning of the year.
Here are 5 ways you can support firm growth in 2017:Read More
Any attorney or law firm administrator who has been in the business for any period of time will probably tell you that law firms used to run on paper — an astonishing amount of paper, in the form of memos, case filings, motions, pleadings, timesheets, invoices, new client intake forms, expense reports, check requests, financial reporting, notes and so much more.Read More