CosmoLex

AUGUST 20, 2024

Cash and accrual basis accounting are both methods for recording law firm transactions. Effective law firm accounting , which includes adopting the most appropriate accounting method for your firm, impacts financial health, growth potential, and compliance and sets you up for long-term financial success.

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MyCase

JUNE 17, 2024

Managing law firm expenses is vital for understanding your firm’s financial health and optimizing profitability. This understanding is crucial for legal professionals to gain a comprehensive view of the firm’s financial operations and ensure its sustainability for long-term success.

Law Firm 52

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LawSites

JUNE 8, 2021

There is no denying that some law firms view alternative legal services providers such as Factor as competitors, particularly for corporate legal work. Now, building on these experiences, Factor is launching a productized, tech-enabled Legal Transaction Optimization service specifically for law firms.

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LawSites

JUNE 24, 2022

For the last seven years, Mighty has been a legal technology company operating a portal that helps personal injury law firms interface more seamlessly with the lienholders, such as medical providers, who have claims against their clients’ recoveries. Tackling PI Law’s ‘Incentive Problem’. Faustian Bargain.

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LawSites

MAY 30, 2023

In a first for an e-discovery technology company, Chicago-based Nextpoint is launching an Arizona law firm June 1 under that state’s liberalized law practice rules that allow non-lawyers to own law practices. ” Leading the firm as managing partner is Andrew R.

eDiscovery 98

eDiscovery Law Firm Law Firms Document Review 98

Rocket Matter

SEPTEMBER 20, 2023

Why settle for a one-size-fits-all template when your law firm is anything but generic? For example, most generic templates aren’t optimized for local SEO, a crucial factor for law firms that rely on clientele in their geographic area. The truth is that not all websites are created equal.

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MyCase

JULY 6, 2022

Setting law firm financial benchmarks may seem like an unnecessary task. This piece reveals the background of financial benchmarking, the process of productively setting benchmarks, and financial benchmarking tools your firm can implement today. . Law firms are no exception. How Does Financing Differ for Law Firms?

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Attorney at Work

NOVEMBER 12, 2021

ClientCredit is the first BNPL solution for legal clients on the market and is exclusively available through LawPay. With ClientCredit, your clients have the ability to pay for legal services in installments while your firm still receives 100% of the invoiced amount upfront. How Your Firm Benefits from ClientCredit.

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LawTechnologyToday

JANUARY 11, 2022

By introducing and communicating payment plans centered around the client and their experience, law firms can avoid chasing clients for bill payments. . According to the 2021 Legal Trends Report , 81% of consumers prefer to pay their legal fees via a payment plan. Know when to offer payment plans.

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MyCase

AUGUST 22, 2022

A boutique law firm’s case management process provides a different experience for lawyers and clients. . In this article, we’ll uncover what you need to know about boutique firms, such as: What is a boutique law firm and what is biglaw? How boutique law firms differ from biglaw firms.

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CosmoLex

FEBRUARY 7, 2024

Running a law firm is a complex undertaking that requires a lot more than filing briefs or showing up in court. From managing cases to meeting with clients and keeping up with all your firm’s administrative processes, tasks and processes can slip through the cracks. But not all legal CRMs are created equal.

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MyCase

DECEMBER 15, 2022

Today is the day that you’re ready to open a law firm of your own. And so on In this overview, we’ll detail how to start a law firm using practical “small” steps, so you don’t put off the idea for yet another year. What Should You Consider Before Starting a Law Firm? Consider the points listed below.

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MyCase

DECEMBER 15, 2022

Today is the day that you’re ready to open a law firm of your own. In this overview, we’ll detail how to start a law firm using practical “small” steps, so you don’t put off the idea for yet another year. This includes what to consider before starting, the costs, and practical tips on how to open a successful law firm. .

Law Firm 52

Law Firm Law Firms Laws Lawyer 52

Rocket Matter

JANUARY 23, 2024

All the successful law firms you see on TV are full of sharpshooters with the smartest teams, the sleekest offices, and the sharpest suits in town. But wait—is their website still stuck in the dial-up era? Having a law firm website is as much of a no-brainer as owning a law library or sporting that indispensable power suit.

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LawTechnologyToday

MARCH 23, 2021

You can find all of the Division’s books in the four core areas of management, marketing, finance, and of course, technology, here. What is the main message of How Successful Law Firms Really Work ? The main message of the book is to help attorneys develop and implement processes to run a successful law firm.

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MyCase

JULY 29, 2022

Managing an organized law firm chart of accounts is crucial for maintaining your business’s overall financial health and meeting strict legal ethics requirements. This begins by creating a comprehensive list of all your firm’s cash inflow and outflow items. . What is a Law Firm Chart of Accounts?

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LawSites

SEPTEMBER 28, 2021

Recent headlines in the financial press are replete with stories about the new boom in buy now, pay later financing for retail purchases, with many retailers, including Walmart, the nation’s largest, now offering these point-of-sale loans. The maximum amount a client will be able to finance through the service is $15,000.

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Rocket Matter

JANUARY 23, 2024

The fact is that even the best-run law firms need to adjust their processes occasionally. And the most effective way to do that is to get feedback from clients. Your clients may be used to inquiries about legal services, but consider asking them about your billing and invoicing processes. Are invoices clear?

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LawVu

NOVEMBER 12, 2024

A quick primer on legal accruals management Accruals are your unbilled estimated spend. It typically includes: Tracking Unbilled Expenses: Monitoring legal services and expenses that have been incurred but not yet invoiced. Forecasting Future Costs: Estimating upcoming legal expenses to ensure sufficient budget allocation.

Finance 52

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LawSites

JULY 25, 2023

Nextpoint recently became the first e-discovery company to launch a law firm , launching Nextpoint Law Group in Arizona under that state’s liberalized practice rules that allow non-lawyers to own law practices.

eDiscovery 98

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CARET Legal

APRIL 24, 2024

A must-have feature of legal practice management platforms, case management software, centralizes all your case files, communications, billing, and scheduling in one platform — it’s truly like having a command center for your law firm. The benefits of such software are numerous. Let’s talk about document automation.

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LawSites

DECEMBER 15, 2021

Lawmatics , a company whose platform provides client relationship management (CRM), client intake and marketing automation for attorneys, has closed a $10 million Series A financing round, it is announcing today. The financing follows the San Diego-based company’s raise of a $2.5 million seed round in October 2020.

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Rocket Matter

NOVEMBER 20, 2024

Download free guide What makes a website “good” for a law firm? Law firm websites aren’t only there to be visually appealing. Local SEO is another large piece of the puzzle for law firms. Keep it secure Your law firm deals with sensitive client info, so security is non-negotiable.

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CARET Legal

OCTOBER 17, 2024

With the right legal invoicing software, you can say goodbye to law firm billing disputes and hello to smoother client interactions The way a law firm handles its finances can make or break its success. Secure client portals play a crucial role in modern legal payment processing.

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LawSites

OCTOBER 14, 2022

On the heels of raising an $8 million Series A financing round in May, Paladin , a legal technology company whose platform enables law firms and legal services organizations to manage their pro bono programs and opportunities, has named two legal industry veterans to its board to help it usher in a new phase of growth. .

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Rocket Matter

SEPTEMBER 11, 2024

When law firms don’t have integrated software systems that work together, it’s easy to lose profits in the cracks. Challenges of traditional legal billing Amongst the professional services sector, law firms have some of the most specific requirements for compliance. Start accepting payments online!

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LawTechnologyToday

DECEMBER 20, 2022

Poor client experience can snowball into a whole host of problems for your firm, including poor client retention, little to no client referrals, and ultimately hurting your law firm’s profitability.  . As we established above, accepting credit card payments for legal services evokes several ethical rules.

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LawSites

FEBRUARY 5, 2024

In the blur of activity that was last week, I attended two legal tech conferences, plus an adjacent legal technology summit. After starting the week in New York at the glitzy celebration of big law tech that is Legalweek , and ending it in Charlotte, N.C., Let’s be generous and call it the top 10% of the population.

Legal 141

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MyCase

OCTOBER 10, 2024

That’s why streamlined, effective legal billing systems are essential for law firms. If systems run smoothly, legal billing can be a painless—and fruitful—endeavor. Ideally, legal billing follows this process: The law firm reviews billing terms with the client and adjusts as needed.

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LawTechnologyToday

APRIL 25, 2023

In this article, we will explore the role of legal technology in reducing bias and increasing fairness in the legal system and how lawyers, office administrators, and finance executives at law firms can integrate these tools into their daily practices. Another example is the use of chatbots in legal services.

Legal 64

Legal Legal Legal Technology Solution Technology 64

MyCase

AUGUST 8, 2022

If you’ve ever used tools like Google Workspace, Microsoft 365, or MyCase legal practice management software, you’re familiar with SaaS—software as a service. SaaS is modernizing the legal industry in two ways: by making law firms more efficient and creating career opportunities for lawyers worldwide. Scalability

Lawyers 52

Lawyers Lawyer Legal Legal 52

MyCase

AUGUST 8, 2022

If you’ve ever used tools like Google Workspace, Microsoft 365, or MyCase legal practice management software, you’re familiar with SaaS—software as a service. SaaS is modernizing the legal industry in two ways: by making law firms more efficient and creating career opportunities for lawyers worldwide. Scalability

Lawyers 52

Lawyers Lawyer Legal Legal 52

Cenza

APRIL 25, 2023

Cenza, a leading managed legal services provider, and Clearlaw Inc., Cenza supports legal operations teams across multiple sectors including technology, pharma, retail, finance, insurance, and banking. Our key strengths are in contract review, migration, compliance, and legal AI training & implementation.

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Contract Legal Services Technology Legal 52

Attorney at Work

AUGUST 26, 2021

Contract attorneys have made it possible for legal organizations to level up their teams’ expertise without increasing headcount. . Law firms didn’t let the pandemic get in the way of profitability or performance in 2020. Corporate law departments made structural shifts as well.

Legal 115

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MyCase

JULY 27, 2021

This annual survey provides data, analysis, and insight on legal trends, with the 2021 Report including data obtained from 700 legal professionals across nine European countries and the U.S. from a broad range of law firms and legal departments.

Technology 98

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LawSites

JULY 28, 2021

Priori Legal , a marketplace for in-house legal teams to find and hire outside counsel, is expanding to also serve as a marketplace for legal technology and alternative legal services providers. Factor , the alternative legal services provider that describes itself as delivering complex legal work at scale.

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LawSites

APRIL 11, 2024

Let’s revisit five of the most momentous legal tech fails of the last 10 years. It launched in 2017 to great fanfare, promising to “revolutionize legal services” through its dual-entity model of both a law firm and a technology company. In 2016, legal tech entrepreneur Derek Bluford was riding high.

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