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  • Optimize Your Small, Specialized Law Firm

    A few simple rules that you probably didn't learn in law school can take the hassles out of your day-to-day practice management tasks for a better business outcome Most law schools will teach you how to be an attorney-but not how to build a viable...
  • Increasing Collection Rates

    Good billing practices can help you get paid for the work you've done and improve your client relationships in the process One common experience for small and mid-sized law firms is the growing amount of receivables. Usually, there are two reasons...
  • 7 Tips to Manage Your Legal Spend

    Recent surveys reveal that the second greatest challenge faced by corporate law departments is controlling their budgets, with a large part of the struggle attributed to spending on outside counsel. With increasing demand for legal services, rising law...
  • E-Billing Primer

    Since the arrival of the desktop computer, companies have anticipated the paperless offi ce. For corporate law departments, the emergence of e-billing solutions has helped reduce the amount of paper flowing through the organization. The "For Services...
  • Solving Law Firm Diversity Tracking with E-billing Technology

    Today, the issue of diversity is a key consideration for corporate attorneys who engage outside law firms to represent their companies. Many companies have enterprise-wide diversity initiatives, but even when this is not the case, law departments have...
  • E-Billing Primer

    Since the arrival of the desktop computer, companies have anticipated the paperless office. For corporate law departments, the emergence of e-billing solutions has helped reduce the amount of paper flowing through the organization. The "For Services...
  • Leverage: The Secret to Increased Profitability

    As most legal professionals have discovered, many of the cultural distinctions that have long separated law firms from the business world, when examined more closely, have turned out to be based upon myth rather than the realities of practicing law. One...
  • Potential of Integrating Lateral Non-equity Partners

    It is no secret that the integration of lateral talent into a law firm often results in a bumpy ride for the firm and the lateral lawyer coming aboard. A study by The Redwood Think Tank emphasizes the profitability gains that can be realized from taking...
  • 7 Tips to Manage Your Legal Spend

    Recent surveys reveal that the second greatest challenge faced by corporate law departments is controlling their budgets, with a large part of the struggle attributed to spending on outside counsel. With increasing demand for legal services, rising law...
  • Milking a Cash Cow

    With all of the reporting capabilities of sophisticated time and billing systems, it is easy to lose sight of the most basic rule of law firm economics: Cash in must exceed cash out. To that end, one of the most valuable assets any business can have is...
  • Normalizing Mix Variables in Law Firm Financial Data

    Most law firm managers understand the importance that business analysis plays in steering a firm toward success. However, as with so many things in life, a little bit of analysis can be a dangerous thing. Management reporting processes typically collect...
  • How Healthy Is Your Inventory?

    All businesses that accumu­late material amounts of ac­counts receivable ("A/R") rely on metrics that measure the turnover of those receivable balances as a gauge of risk and li­quidity. One of the most common metrics used is what...
  • Increasing Collection Rates

    Good billing practices can help you get paid for the work you've done and improve your client relationships in the process One common experience for small and mid-sized law firms is the growing amount of receivables. Usually, there are two reasons...
  • Gaining Firm Acceptance of a Profitability Model

    As law firms grow in size, and expand geographically and across practice areas, the use of firm-wide profitability tools has become a business necessity. But understanding the urgency to adopt or update a profitability model doesn't guarantee its...
  • Gaining Confidence in Alternative Billing

    The tide appears to have turned in favor of alternative billing solutions. Amid the continued economic tumult, firms are responding as never before to client demands for more creative pricing. As these arrangements play out, however, some firms are likely...