Law firm financial management systems offer a number of benefits to the firms and people who use them on a day-to-day basis. In addition to improving security and privacy, being environmentally-friendly by going paperless, and increasing efficiency, financial management systems offer benefits that are harder to quantify but just as valuable.
By providing users the ability to gain powerful insights from real-time data, your financial management system can help your firm reach both its short-term and longer-term goals by being adaptable, flexible, and accessible.Read More
“I don’t care how our firm is doing,” said no law firm partner, ever. Law firms are in business to help clients with their legal needs, but you’re also in business to make money and be successful. But if you are not looking at the right metrics to measure your success, you may find it difficult to reach your goals.
When you have a comprehensive view of your firm and its key performance indicators (KPIs) at your fingertips, you can help steer your firm in the right direction.Read More
When choosing a legal management system to help you manage your law firm’s operations more efficiently, you need to use all the tools available to you to ensure your comfort with the system’s features and functionality — its bells and whistles so to speak. More importantly you must understand how it will help your firm’s partners, associates and staff do their job and tasks better.
When making such a change in your firm, it is also important to make sure you are comfortable with the system’s vendor. After all, you will be working with that firm to select, customize and implement your new legal management system, and you will be relying on that organization’s ongoing service and support for many years to come. Think of selecting a legal management system as a long-term partnership instead of a single transaction. From shared goals to clear communication, we’re sharing some tips to help you make informed decisions as you evaluate systems that fill your firm’s needs and the vendors who will help you reach your goals.Read More
Henry Ford is often (mis)credited with saying “If I had asked people what they wanted, they would have said faster horses.” Even if he never uttered those words, the reason this resonates with people today is because it gets to the heart of what innovation is. Innovation requires you to think outside the traditional products, methods and processes. You’re not simply improving what you currently have, you’re rethinking the core problem and seeing solutions from outside the proven model.
Most law firm administrators, partners and other law firm personnel understand that they need to find ways to grow through innovation, in addition to what they’re already doing. The challenge most firms face, however, is how to identify and implement innovation.
Innovation in law firms can be categorized in a number of different ways. For purposes of this article, we’ll limit the discussion new ways of delivering client services and streamlining internal processes. But if you’re interested in innovations in new areas of the law, you can check out this 2016 ABA Law Practice Today article, which suggests some areas of the law that are predicted to see increased growth over the coming years.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