As we prepare to bid farewell to 2023, it’s time for law firms to take stock of their yearly performance to see where they stand as an organization. If things have been going well for your firm, it might be tempting to stick to the game plan that’s gotten you this far, but if you want to take things to … Read More
The Best New Year’s Resolutions for Law Firms for 2024
As you flip your calendar to December and anticipate 2024, you may be thinking, “New year, new me.” But let’s be honest—it’s still the same you, and that’s a great thing! It’s time to embrace a variation on this phrase instead: “New year, new practice.” After all, what truly matters is the opportunity to refine the processes and habits that … Read More
6 Takeaways from 2023: A Reflection on the Year’s Challenges and Successes
2023 stands out as a year of significant transformation for the legal field. Law firms, both large and small, found themselves navigating new and nuanced challenges, from the intricacies of remote work to pressing cybersecurity concerns. And then there’s the elephant in the room: generative AI. Yet, with challenges come opportunities. As we reflect on the past year, it’s evident … Read More
11 Questions for a Successful Year-End Close
As the year draws to a close, law firms are presented with a unique opportunity—a chance to reflect, recalibrate, and refocus. While the end of the year is associated with holiday festivities and time away from the office, it’s also a critical period for law firms to assess their financial health, client relationships, and future growth strategies. The questions you … Read More
5 Purchases Law Firms Can Make to Maximize Their Tax Benefits
As we approach the end of the year, many legal professionals will be thinking about making some tax-deductible expenditures to give their firms a little extra shine and reduce their tax bill in the process. While it’s a great idea to grab some new gear while improving your tax position, you don’t want to eat into your profits unnecessarily, so … Read More
The Rise of the Data-Driven Law Firm
In today’s fast-paced legal landscape, data is no longer just a buzzword; it’s a game-changer. The rise of data-driven law firms is reshaping the industry, and for a good reason. Law firms harnessing the power of data are not only improving decision-making but also increasing profitability while delivering superior services to their clients. Legal Talk Network Podcast recently sat down … Read More
Wouldn’t It Be Nice to Have One Source of Truth for All Your Leads in 2024?
In the hyper-competitive world of law firms, getting a handle on your leads is the first step in acquiring new clients, achieving growth, and edging out the competition. The process of lead management, from initial contact to client intake, requires accuracy, organization, and collaboration. And in the digital age, law firms have access to modern tools that streamline lead management … Read More
7 Things to Consider When Switching Your Accounting Software
Switching software platforms. Just the idea of changing the accounting software you use at your law firm is enough to make you break out in a sweat. Let’s call it the “software sweats.” You know the usual reasons for that prickly feeling: the legal industry is historically resistant to technological change, colleagues claim that they don’t have time to spend … Read More
Get Going and Keep Growing with Lawyer’s Business Suite from CosmoLex
Running a law firm in the digital age poses unique challenges. From attracting new clients to managing your leads, cases, time, billing, and accounting, a successful law firm needs more than just a team of skilled lawyers. It requires effective systems in place to ensure smooth operations. Fortunately, there’s a solution that can streamline these processes and accelerate your firm’s … Read More
Back to Basics: Trust Accounting for Small Law Firms
Trust accounts are among the most complex aspects of running a law firm—and they can be especially intimidating for small firms because there are fewer people to bear the fiduciary responsibility. To add to the stress, compliance mistakes with trust or IOLTA accounts can lead to serious consequences, ranging from fines to disbarment. But you don’t have to let the … Read More