Legal CRM (client relationship management) software is a valuable tool for growing your practice. Law firms of all sizes—especially small and medium-sized firms—can use these tools to move clients through the intake process more quickly, improve client communication (and, by extension, client satisfaction), and better invest their marketing spend. But there are an abundance of CRM options, with an almost … 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
Top 5 Year-End Accounting To-Dos for Legal Teams
As the year winds down, everyone is looking forward to holiday festivities and a well-deserved break from the whirlwind of cases, clients, and courtrooms. But there’s a looming task you have to take care of before that end-of-year break: year-end accounting. Wrapping up the year is an excellent opportunity to analyze the year’s progress, ensure compliance, and set the stage … Read More
Four Signs Your Data Isn’t Ready to Migrate (And How to Get it Ready)
Isn’t it nice to make a fresh start? The opportunity is fast approaching as we move into the fourth quarter of 2023 and contemplate how to wrap up the year and make some changes for the next one. What’s on the list for some law firms? Adopting a new accounting software to kickstart 2024. The new year is an optimal … 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
Why Not All Payment Processors Are Created Equal
In our increasingly tech-driven world, law firms have more options than ever for how to accept and process payments. And there are important differences between the various processors out there. While many law firms use industry-agnostic payment processing options like Stripe, Square, or PayPal, there are drawbacks to using software that’s not tailored to the unique needs of the legal … Read More
Five Reasons Why a Financial Forecast is Critical to Your Law Firm’s Success
In the dynamic world of legal practice, most principals, owners, and managing partners know that financial forecasting is an indispensable tool for law firms aiming to achieve stability and long-term success. By leveraging historical data and market trends, financial forecasts empower law firms to make informed decisions, set realistic goals, and ensure efficient financial management. Let’s explore the benefits of … Read More
How Legal-Specific Accounting Software Helps Lawyers
As a law firm owner, you’re no stranger to the complexities of running a practice. You’ve got a million things on your plate, and accounting is just one of them. It’s easy to think your current business accounting software is doing the job just fine. But the truth is, legal practices have unique needs that standard tools often overlook. We … Read More
What Every Attorney Needs to Know About IOLTA
Are you grappling with the complexities of managing Interest on Lawyer’s Trust Accounts (IOLTA)? Ever felt overwhelmed by the meticulous record-keeping, stringent regulations, and the high stakes of handling client funds? You’re not alone. Many attorneys, solo and small law firms, new attorneys, and paralegals face these challenges daily. But understanding IOLTA accounts is not just a regulatory requirement—it’s a … Read More