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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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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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

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. .

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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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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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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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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.

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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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LawSites

MAY 3, 2022

Paladin , a legal technology company whose platform enables law firms and legal services organizations to manage their pro bono programs and opportunities, has raised $8 million in Series A funding, which it plans to use to further develop its product and expand its market internationally. . and Canada.

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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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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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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.

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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

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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

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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.

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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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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.

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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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InHouseOps

JULY 18, 2022

I also worked for Stephanie Corey, one of the CLOC co-founders, for a couple years, doing legal technology procurement, where I demoed over 100 pieces of legal technology. Before that I was a practicing attorney—I still have a valid law license, but no longer practice—and I also have an MBA.

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MyCase

AUGUST 18, 2023

Enter legal matter management, a strategic approach that empowers law firms to stay on top of their never-ending workload—all from one centralized location. What Is Legal Matter Management? Legal matter management is the comprehensive process of handling all aspects related to a legal matter within a law firm.

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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

DECEMBER 19, 2023

a business credit card) for your firm, and you constantly have to dig into it to cover basic expenses, this is a problem. for each additional year of experience. Likewise, you should charge a premium for a unique legal service not commonly available in your region. Get free guide See More

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Rocket Matter

MAY 10, 2023

Rocket Matter with ChatGPT integration allows users to access ChatGPT for content generation, legal document review and more, right within the Rocket Matter platform BOCA RATON, Fla., Advances in AI, with the ability to digest large amounts of information and create compelling text, offer massive efficiency boosts for legal services.

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Rocket Matter

OCTOBER 3, 2023

Why the billable hour matters Reports state that many attorneys bill between 1,700 and 2,300 hours per year , so not tracking all your time accurately can lead to tens of thousands in lost revenue. Second, law firms track the billable hours of each attorney.

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LawSites

JULY 19, 2023

“This has been an amazing year of change for legal tech, including at vLex and Fastcase,” said Ed Walters, Fastcase co-founder and the Chief Strategy Officer of vLex. This year’s list of honorees reflects a year of transformation for legal services. Bill Girdner , Editor, Courthouse News Service.

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Cenza

NOVEMBER 18, 2021

The legal industry is no exception to this prevailing trend, with law firms worldwide embracing Artificial Intelligence to add efficiency and gain a competitive advantage. Early works on AI in legal services can be traced back to 1956 when professor Layman E. Onboarding the right legal AI. About Cenza.

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MyCase

AUGUST 5, 2022

When law firms provide payment plan options, it can make legal assistance more affordable, expand the firm’s client base, and even help lawyers get paid. Law firms can accept different types of payment plans. It all depends on the firm. . Benefits of Offering Payment Plans in Your Law Firm .

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Rocket Matter

JANUARY 16, 2024

Offering credit card payments helps your law firm get paid faster and increases client convenience. But that convenience can come with a price tag. On your quest for the right payment processor, look for features that streamline and support the way law firms operate. As an example, look at New York.

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MyCase

JUNE 25, 2024

Law firms exist to serve clients well and generate profits. Two areas crucial to the profit side of the mission are the firm’s fee structure and expense management processes. A misstep can undermine revenue efforts even as the firm grows its client base. billion in 2000 to $117.4 billion in 2018.

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LawSites

JULY 28, 2021

Corporate counsel might not have the same concept of a ‘deal team’, but they do have the critical relationship between legal and finance. Think about it: How do clients typically get status updates from their law firms? 81% are considering working with alternative legal service providers (ALSPs) in the future.

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Paralegal Bootcamp

MAY 6, 2022

Paralegals and legal assistants held about 345,600 jobs in 2020. The largest employers of employees and legal assistants were as follows: Legal Services 73%. Finance and Insurance 3%. Obtaining a legal certification or a degree as a paralegal offers an opportunity to seek a variety of career opportunities.

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Rocket Matter

JANUARY 17, 2023

You have the funds and mental energy to provide excellent legal services to your clients, while also investing resources in your operations, staff, and future. . The day-to-day operations of your law firm can be disrupted, including your quality of service. . The importance of timely payments for law firms .

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