Make More Rain

2012 Redwood User Conference September 10-12 in Miami, Florida

2012-04-04T20:08:00Z

Mark your calendars to join us for the must-attend event for legal professionals responsible for managing firm growth: The 2012 Redwood User Conference! Register Now and Save When: September 10-12, 2012 Where: Miami, Florida, The Ritz-Carlton, South Beach Register by June 30, 2012, and save $300: Early registration $795 This year's event will showcase: · Best practices for Business of Law in the 'New Normal' · Trends and best practices in profitability and revenue management...(read more)

If customer relationships are so valuable to firms-then why are CRM solutions underutilized?

2012-04-02T14:21:00Z

In theory one would think that law firms would embrace the idea of a Customer Relationship Management solution. Or should I reword the statement that most everyone would agree that strong relationships are a law firm’s most valuable assets? If customer relationships are so valuable then why are so many law firms not using their CRM systems to its greatest potential? Is it that the current technology is behind? Is their resistance to the software thinking it would do more harm than good? Or...(read more)

Is the Grass Really Greener on the Other Side?

2012-02-09T00:12:00Z

There are many hidden and not so obvious challenges when a law firm merges with another. Sure there are positive aspects after the merger is complete i.e. a more diverse practice, more revenue, more talent, etc. But from a partner's point of view it's not so simple. Partners with both firms, have a history with the firm and have put blood, sweat and tears into it. They've earned every step of the way to get where they are at and when you merge with a new firm, a new pecking order will...(read more)

Should non-lawyers have a stake in law firms?

2012-02-02T22:24:00Z

The New York State Bar president, Vincent E. Doyles III says non-lawyer ownerships in law firms "is worthy of serious consideration" but was adamant on pointing out that New York State Bar Association is opposed to non-lawyer ownership of law firms. The Wall Street Journal article mentioned that when this was first brought up about 10 years ago by the big 5 accounting firms looking at acquiring law firms, an ABA commission sided with the accounting firms. But many bars are opposed as they...(read more)

Effect on Cashflow - USPO Decision to End Next Day Mail

2012-01-23T00:25:00Z

1 DAY . How can one day have any effect on a law firm's cash flow? When I first read this news I thought to myself, "so what, who uses snail mail anymore." Mail seems so old fashioned compared to all of the other technologies we use today. For example, online bill pay, electronic payroll, and technologies like email and text messaging. But most law firms still deliver their invoices via mail. The decision on ending next day mail doesn't just affect your incoming mail that might...(read more)

The Impact of Emerging Trends on the Law Firm

2012-01-22T22:50:00Z

In a recent article in Law Practice Today , the author spoke of how the law firm business model is being impacted by the 7 emerging trends occurring around us. The seven trends are: 1) A wealth of information both in quantity and quality for the law firm and their clients 2) Pricing power shifts from law firms to clients 3) How virtual legal services are adding competition for law firms 4) Law firm management is improving with professionals 5) The increased leverage of non-lawyers for decision making...(read more)

2012 CFO survey results in

2012-01-20T03:17:00Z

No surprise that 2012 being an election year is impacting the decisions corporations are making. But given that, with 600 corporate CFO survey partipants, more than half expect their revenue to grow in 2012. 46% of them are expecting to hire employees and 48% are expecting to keep the same level of employees. Overall, the CFOs gave a score of the economy a 44 out of 100. Pretty pitiful and the lowest score from CFOs on the economy in the 14 years this survey has been conducted. There is still a lot...(read more)

Using The Right Tools To Get Results

2012-01-14T22:08:00Z

Excel(r) by Microsoft (r) is a very powerful tool. Excel is pretty amazing with all of the advanced and even complex functions. A recent article online in CFO http://bit.ly/wlDGoc highlights what you have to do if you want to account for seasonal changes to your data over a course of a period. It makes sense, it happens in law firms as you project work in progress and expected case settlements, etc. But as I am reading through "how" to do some of this wonderful stuff, I had to say, getting...(read more)

Redwood Analytics Teams With LexisNexis University

2011-10-21T18:54:00Z

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 Redwood Analytics is teaming up with LexisNexis University to bring a solid fall 2011 training lineup that includes three sessions on reporting and business intelligence. Currently, the schedule includes three training modules – two are in classroom settings in Philadelphia while a third is a virtual module online. To register please visit the following links and use registration code RW-UC11 to get a 15 percent discount...(read more)

Free LexisNexis Webinar Roundup

2011-10-18T19:44:00Z

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 To kick start this blog with more active content, we’d like to share our fall lineup of free webinars you can easily register to attend. If the timing doesn’t work for you to attend live, each of these will be available on demand for some time after the sessions. Please join LexisNexis Redwood Analytics and InterAction teams for the following insightful presentations: October 27, 2011, Noon EST: InterAction 6.1...(read more)

Law Firms and Thought Leaders Converge in Philadelphia September 19-21st

2011-08-04T03:38:00Z

This year's Redwood Analytics User Conference offers sessions from effective business development, matter planning and pricing strategies to best practices for partner compensation plans that impact profits, in addition to round tables and networking with your peers. We are excited and pleased to have William J. Flannery of the WJF Institute ( http://www.wjfinstitute.com/ ) presenting the key note of " Sales Lessons Law Firms Can Learn from the Corporate World: Bringing in More Business...(read more)

Four Critical Steps to Drive Profitability Results

2011-05-06T16:26:00Z

There are some things in life that we can control and those that we cannot. As shareholders, officers or agents of law firms, we have the ability to make or influence decisions that directly impact law firm profitability. I was told once by a wise person who I have a lot of respect for, to sit on the other side of my desk when I have a challenging business issue that needs to be resolved. Its interesting how looking at a situation from a different angle can surface opportunities to improve the way...(read more)

Russ Haskin to Speak at 2011 Council on Litigation Management Conference

2010-12-22T16:37:00Z

New York, NY -Mr. Russ Haskin, Director of Consulting and Services at LexisNexis has been selected to speak at the 2011 Annual Conference of the Council on Litigation Management (CLM). Mr. Haskin is slated to speak on the topic "What Metrics Matter, and How to Use Them to Build a Trusted Partnership." The conference will be one of the largest, fully inclusive defense industry conferences in 2011. It will be held March 23-25 in New Orleans, LA, will feature approximately 250 speakers and...(read more)

Too Much Information = Too Little

2010-08-24T16:03:00Z

This post was written by Brian Taaffe, Sr. Consultant for Redwood - I attended a conference on driving law firm profitability through financial measurement and reporting (catchy title, eh?!), and as I am sitting there listening to the speakers I am thinking "this is what we have been telling firms for the last 5 years." I am not saying this to make it seem like we [Redwood] are the ones that first suggested it, but more to point out that no one has been listening over the years. And despite...(read more)

Bruce MacEwen to deliver Keynote at the 2010 Redwood User Conference

2010-08-13T14:32:00Z

REDWOOD ANALYTICS TAPS BRUCE MACEWEN, PRESIDENT OF ADAM SMITH, ESQ., TO KEYNOTE REDWOOD 2010 USER CONFERENCE LexisNexis® Redwood Analytics, a leading brand of business intelligence software and services for the professional services industry, is pleased to announce the addition of Bruce MacEwen, president of Adam Smith, Esq., as keynote presenter for the 2010 Redwood User Conference set for Sept. 27-29, 2010 in Denver. Adam Smith, Esq. http://www.adamsmithesq.com is a management consulting firm...(read more)