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TECHNOLOGY

6 tips for choosing legal practice management software

By Diane Camacho There continues to be a tremendous push in the legal community from practice management software companies. This has evolved from the use of cloud-based software. What should practice management software do for you? Keep all your client information in one place. Keep all your information available to you on the go. Allow you to enter your information one time for all applications. Provide document automation. Provide document management. Efficiently track your time and produce bills. Either produce financial reports or sync with a financial management platform like QuickBooks. From my experience in the legal community and particularly working with small firms and solo practitioners, I’ve accumulated the following tips on legal practice management software. Tip 1 Each of these programs have a sweet spot. Some do billing… . . . read more

INCREASING PROFITS

Should a lawyer do administrative tasks to save money?

By Elizabeth M. Miller Should a lawyer do administrative tasks to save money? Of course, the answer is no. Struggling business owners will spend time to save money, whereas successful business owners will spend money to save time. Because you can always get more money⁠—you cannot get more time. So, you need to ensure the work you spend your time on makes the biggest impact. This is called leverage and leverage is the best kept secret of the rich. It works like this: If you spend five hours per week on administrative work at $400 per hour x 4.3 weeks per month it will cost you $8,600.00 per month of billable client hours. Over the course of a year that is $103,200.00 of billable time that you could be billing… . . . read more

INCREASING PROFITS

5 law firm billing practices for better cash flow

By Brenda Barnes It’s probably not a big surprise that if your firm does not have sound billing and collection practices, your cash flow will suffer. It also probably goes without saying that when cash flow suffers so does partner compensation. How can you tighten this up? First and foremost, you need to have solid billing policies that are agreed upon and followed! Enter your time daily. With today’s mobile technology, there is really no excuse for not entering time daily. Your practice management software should be so easy to use, so easy to access that there are really no excuses. Enter time from your desktop, laptop, iPad, cellular phone and dictate it directly to your software. If your software is not providing your attorneys this flexibility, make the investment now… . . . read more

TECHNOLOGY

Take advantage of case management software benefits

By Elizabeth Miller  bio Case management software is now so popular in law firms that it is rare to hear of a firm that does not have it. The problem is that even though firms have the software, they don’t take advantage of all the benefits. Managing incoming leads and cases Give your law firm an advantage over other firms by providing potential clients with an exceptional experience without the need for face to face interaction. Offer your clients e-signature to sign retainer agreements and other documents from anywhere. Digitize your client intake with forms making it efficient and convenient to sign on with your firm. Centralized case details The great thing about case management software is that all client information, communications, time entries and notes are in one place. … . . . read more

FIRM’S FINANCES

5 ways to keep profit on your radar

Practicing law is a tough gig. There is always so much to do to ensure your practice is successful. Focusing on your clients is your first priority, but are you also keeping an eye on your firm’s financial health? After all, staying profitable is not only crucial to your success, but is also important to your clients’ success.

INCREASING PROFITS

Some not-so-difficult ways to increase revenue

Need a better bottom line?
Don’t go the way of most firms and start “stripping the heck out of the operating costs.” The real dollars come from…


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RECORDKEEPING

Use weekly financial reporting to keep partners aware of cash flow

A Vermont manager has found that running the financial reports weekly instead of monthly is an easy way for the partners to stay always aware and in control of what’s…


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INCREASING PROFITS

Keep profits on track with this quick 5-point spring financial checkup

It happens every January. The firm makes grand resolutions to improve the financial performance.
But by spring, the attorneys get bogged down in their old habits. It’s the administrator’s job to keep the attorneys focused on their financial resolves, because their abilities and…


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INCREASING REVENUES

Boost quarterly profits with this proven 6-pronged cost cutting plan

As revenues tighten, every administrator is forced to look for new ways to cut expenses. There are lots of dollars waiting to be saved. But many of them are in places so conspicuous they…


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KEEPING CLIENTS HAPPY

Clients cite their top 6 turnoff points with law firms

Don’t jeopardize repeat business by unwittingly antagonizing the clients. Keeping them satisfied is a worthwhile…


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