Ensuring that your firm is compliant with regulatory standards may not be your favorite responsibility as a lawyer, but the importance of strategic compliance planning for law firms cannot be overstated, especially when it comes to avoiding missteps and their consequences. For law firms, one of the most important areas to have a compliance plan for is trust accounting. A … Read More
Productivity Metrics Your Firm Should Be Tracking
A universal truth: the to-do list at any law firm is always a thousand miles long. If your doors have been open for a year or more, it’s like it’s two thousand miles long. But how efficiently you and your team are getting through that list? That’s the difference between a successful firm and one that does alright. You want … Read More
What Do I Need to Know About Automating My Law Firm?
Automating processes sounds great, in general. We set out coffee to brew the night before, we program our Roomba to run at 10 am to clean the floors and entertain the cat, and we set up automatic payments and withdrawals with our bank. But what does automation look like at a law firm? In an industry that is all about … Read More
Legal Billing and Accounting: Ways Your Firm Can Fail
Lawyers have a very specialized set of skills and training. Their clients trust them with some of their most sensitive information. Accordingly, there is a higher degree of consideration placed on payment as a part of the lawyer-client relationships. When most people think about violating ethical standards, their first thoughts turn to the more well-known issues: embezzlement, misrepresentation, undisclosed conflict … Read More
Improving Your Law Office’s Cash Flow
Money talks in more ways than one. In the COVID-19 era, your firm needs a cash flow that is consistent and easy to manage. Modern online payment options let you handle billing and accept payments from clients without the hassle. What does it mean for your firm, though? Here are a few things to consider. The Importance of Billing & … Read More
Top 5 Billing Practices Used by Profitable Law Firms
This year might be unpredictable, but that doesn’t mean it has to be unprofitable. With modern billing, you can keep track of your bottom line just like the most profitable law firms do. From best practices to specific tactics to keeping money coming in the door, we’ll show you how to keep your numbers out of the red. Law firm … Read More
Adjusting to the New Normal for Lawyers
A lot has changed for lawyers since COVID-19 struck. Whole law firms working from home, remote depositions, and virtual hearings and taking on new clients while never meeting them seemed unimaginable at the beginning of the year. Now? It’s the new normal. It’s a big adjustment! Especially when you want to make sure your office is staying productive. While very … Read More
Utilizing a Mid-Year Accounting Checklist
Taking stock of your accounting isn’t just an end of year task – although it would be nice to only have to do it once a year! These days, it’s more important than ever for lawyers to be aware of their financial standing and make sure they’re keeping accurate records. Doing a mid-year accounting check will leave you with a … Read More
Cloud Computing Ethics for Lawyers
At some point in the early to mid-2010s, jokes about “the cloud” were common. What’s “the cloud” mean? Where is it? Does anyone even know? These days, most of us are pretty familiar with what cloud computing is and all the benefits that it offers. What’s less clear, though, is the ethical pitfalls that it poses. Yes, cloud computing is … Read More
How to Improve Your Law Firm’s Financial Security Today
Financial security isn’t just for your personal life – law firms should seek to have the same peace of mind that comes with the right long-term financial planning. Not only is it less stressful, but it also leads to sustained success when you’ve made sure the right processes are in place. In the busy world of running a practice though, … Read More