Law Firm Management

Showing 65–80 of 208 results

  • Procurement comes to legal services – Is your firm up to the challenge?

    Fall 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 420

    Abstract: In recent years, many companies have started using procurement to purchase legal services. This article discusses some of the reasons — pressure to be profitable and concern about law firm billing practices — and explores recent trends. For example, companies that use procurement professionals often expect firms to provide discounts of 10% to 20%.

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  • Focus on profitability – How to raise rates, carefully

    Fall 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 709

    Abstract: Raising rates can be a risky proposition in a competitive legal market. But firms with narrowing profit margins must consider it. This article argues that firms can safely raise rates by communicating the quality of their services, raising rates incrementally and testing revised rates on new clients before announcing them to long-time clients. A sidebar notes that it’s important for a law firm to determine the quality of different clients, as well.

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  • Why law firms should look to the cloud

    Fall 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 567

    Abstract: Law firms have been slower to adopt cloud computing than other businesses, largely because of privacy and security concerns. But as this article explains, cloud computing services now address these issues with sophisticated protections. And because the technology does away with pricey contracts and per-user licensing fees, cloud services are very cost-effective.

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  • 5 best practices for improving collections

    Fall 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 804

    Abstract: Unlike other businesses, which often stop providing goods and services until clients pay their bill, attorneys generally can’t withdraw representation while waiting for a client to remit an invoice. This article suggests other ways to improve collections, including billing promptly, checking invoices for accuracy and following up with clients as soon as a payment is late. A sidebar helps attorneys avoid the conditions that lead to late payments.

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  • 4 tips for strengthening cyber security

    Summer 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 503

    Abstract: Law firms of all sizes have sensitive information that makes them vulnerable to data breaches. This article outlines four strategies for preventing — or, at worst, minimizing the damage of — a cyber attack. These are encryption, employee training, cyber liability insurance coverage and recovery planning.

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  • What to do about falling realization rates

    Summer 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 628

    Abstract: Many firms have experienced falling realization rates over the past 10 years. Although a goal of 100% realization probably isn’t realistic, firms can take steps to improve their rates. This article suggests that firms avoid making write-downs routine, put billing and other policies in place and increase collection efforts.

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  • Put CRM software to work for your firm

    Summer 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 553

    Abstract: To be competitive, law firms need to take advantage of tools such as customer relationship management (CRM) software. This article explains how CRM software helps attorneys connect with clients and provides tips on firmwide implementation.

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  • Ensuring your firm has adequate capital

    Summer 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 818

    Abstract: The nature of law firm billing, collections and expenses can create gaps in cash flow that capital must fill, so it’s not surprising that firms increasingly are requiring larger capital contributions from partners. This article discusses common financial pressures, ways to determine how much capital a firm needs and how much partners should be required to contribute. A sidebar explains why a line of credit isn’t always the best source of capital.

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  • Building — and maintaining — your firm’s brand

    Spring 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 417

    Abstract: Firms with strong brands can reap many benefits, including higher fees, easier new business development and stronger client relationships. This article explains how firms can use their brand to differentiate themselves from their competitors and discusses ways to avoid common pitfalls such as failing to integrate the brand across the organization.

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  • Afraid of being audited? An IRS guide may help ease your mind

    Spring 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 584

    Abstract: The IRS’s Audit Technique Guide covering attorneys is designed for the agency’s employees. But knowing what auditors look for enables lawyers and law firms to provide the right information and reduce the time and stress of being audited. This article highlights several areas covered by the guide and stresses the importance of sound accounting.

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  • How your firm’s strategic game plan can use a Balanced Scorecard

    Spring 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 706

    Abstract: The Balanced Scorecard was developed to enable companies to translate their organizations’ strategic goals into a set of performance measures. But this management tool can also help law firms become more profitable and efficient. This article talks about the Scorecard’s four focus areas — clients, finances, internal operations and organizational growth — and provides tips on compiling useful data.

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  • 4 ways to improve profitability

    Spring 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 784

    Abstract: Although economic conditions are beyond any law firm’s control, plenty of factors that drive or impede profitability aren’t. This article focuses on four ways to boost profitability: manage billing, receivables and payables better; cross-sell services; increase specialization; and reduce the number of clients to focus on the most profitable ones. A sidebar discusses creative ideas for cutting costs, such as adopting alternative staffing arrangements.

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  • How to combat competitive pressure and grow your firm

    Winter 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 406

    Abstract: Firms concerned about fierce competition in the legal marketplace should take heart: New tools may provide them with an edge. This article covers two ideas — competitive intelligence, which involves gathering and analyzing competitor and client data, and professional salespeople who can help support business development efforts.

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  • Emergency! Don’t let a disaster put your firm out of business

    Winter 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 595

    Abstract: For law firms, the key to surviving a natural or manmade disaster — and minimizing physical and financial damage — is to plan for it. This article provides tips on building a plan that minimizes threats, including assigning emergency responsibilities to specific individuals and regularly backing up electronic data offsite.

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  • Should your firm consider a two-tier partnership system?

    Winter 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 709

    Abstract: Firms that hire and retain only partnership-track associates could be turning away profitable legal talent. This article argues that a two-tier partnership system can make a firm more attractive to both new law school graduates and experienced attorneys nearing retirement. A sidebar explains how part-time partnerships work.

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  • Payroll management – 3 critical issues require your attention

    Winter 2016
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 793

    Abstract: Law firms that are expanding and hiring — or even relying more on independent contractors — face new payroll challenges. This article discusses three payroll issues that require attention: withholding and paying taxes; properly classifying employees; and keeping complete and accurate records. A sidebar explains what professional employer organizations are and how they work.

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