Tech Tip #265: Lawyers Should Embrace AI to Maximize Efficiency

Lawyers-Embrace-AI-to-Maximize-Efficiency

The rise of artificial intelligence mistakenly gets a bad rap because people think it will decrease the job market. However, the opposite is actually true. AI will help free up a lawyer’s time that can often be bogged down in repetitive and mundane tasks. This ultimately allows lawyers to increase efficiency and focus on higher-level billable tasks, such as advising … Read More

Tech Tip #264: Separate Your Firm’s Direct & Indirect Costs to Avoid Tax Liability

Avoid-Tax-Liability-Direct-vs-Indirect-Costs

When handling a law firm’s accounting, you’ll need to accurately differentiate between direct and indirect costs. If you don’t, you could incorrectly increase or reduce the net income of the firm in a given tax year. This could create increased tax liability, lead to a legal accounting audit and further result in more compliance issues. A “Direct Cost” (aka Hard … Read More

Tech Tip #263: Integrated Platforms Are Key To Preventing Client Disputes

Integrated-Platforms-Are-Key-To-Preventing-Client-Disputes

Client disputes are unfortunately a part of practicing law and can lead to devastating results, such as ruining a law firm’s reputation or even the disbarment of an attorney. However, you can get ahead of this by preventing client disputes from happening at all — and this can be done by implementing an integrated practice management software. Typically, multiple systems … Read More

Tech Tip #262: Evaluate Security Best Practices of Cloud-based Vendors

Evaluate-Security-Best-Practices-of-Cloud-based-Vendors

As law firms continue to grow their usage of cloud-based tools, it’s important to know what factors to evaluate to remain secure in the cloud. It’s important to do your due diligence and understand the steps that vendors take to secure their data and their systems. Questions you can ask include: How often do they back up their data? Do … Read More

Tech Tip #261: Streamline Communications to Increase Profitability

Streamline-Your-Communication-Process-to-Increase-Profitability

Did you know that failure to communicate with clients is one of the most common complaints to state bars? And what’s more, regular communication is also a way to make your firm more profitable. Below are a few ways to streamline and optimize your communications with clients: Consider tools that remove the burden of initial responses to prospective clients, such … Read More

Tech Tip #260: Protect Your Firm’s Data – Create a Disaster Recovery Plan

Protect-Your-Firm’s-Data-by-Creating-a-Disaster-Recovery-Plan

Lawyers are responsible not only for securely storing clients’ confidential information, but for acting in a way that best protects their interests, which extends to reasonable efforts to prevent IT mishaps. IT mishaps include natural disasters and data breaches that could result in data being lost, damaged, or corrupted. The best way to protect your firm’s data is to have … Read More

Tech Tip #259: Make Better Decisions by Evaluating Billing Reports

A big portion of running a law practice revolves around billing, but it goes beyond just time tracking and invoicing. Some key billing reports you can analyze to make better decisions include aging reports, WIP reports, and retainer reports. Aging reports show your firm’s balances and which invoices are 30-60-90 days due so that you can come up with a … Read More

Tech Tip #258: Use Real-Time Entry to Avoid Missed Billing

Use-Real-Time-Entry-to-Avoid-Missed-Billing

To make sure you’re capturing all billable time, enter it as it happens rather than waiting to get back to the office. Otherwise, you run the risk of forgetting the exact amount of time worked or even worse, forgetting to enter it at all. In addition to billable time, you should also be entering in expenses to avoid missed opportunities … Read More

Tech Tip #256: Identify Key Metrics to Determine Your Law Firm’s Success

Identify-Key-Metrics-to-Determine-Your-Law-Firms-Success

If you want to run a successful practice, it’s important to identify key metrics to evaluate. For example, within cases you evaluate your average revenue per case, how many days it takes for a lead to call you for them to schedule a consultation, and how many of those leads become clients. These numbers will help you identify areas for … Read More

Tech Tip #255: Law Firms Should Handle Bad Online Reviews Properly

Handle-Bad-Online-Reviews-Properly

Online reviews can be very powerful, but when someone leaves a negative review it’s critical you take the time to respond and address the review. Otherwise, potential clients are only seeing one side of the story and then come to their own conclusions. Avoid responding defensively and instead answer humbly, transparently and professionally, giving yourself and your firm the voice … Read More