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Since 2016, legal experts have turned to Clios annual Legal Trends Report for a thorough examination of trends in the legal field. For lawyers in mid-sized firms, we provide unique insights with our annual Legal Trends for Mid-Sized Law Firms report. Only 38% of mid-sized firms use LPM software compared to 71% of smaller firms.
Founded in 2016, Docketwise was acquired by MyCase in May. Shortly after that, MyCase was acquired by AffiniPay , the parent company of the electronicpayments platform LawPay. “We Continue to work within Docketwise while obtaining e-signatures. View e-signatures on documents directly within Docketwise.
It is interesting that the survey appears not to have asked about electronicpayments technology — a technology whose use appears to have soared in recent years, according to other surveys. 2016 Survey. Some of it is also going to non-legal specific tech, such as websites, hardware, and billing or accounting software.
Hourly rates for lawyers have increased 28% since 2016 (from $256 to $327), according to the Legal Trends Report. Additionally, legal professionals on average are working over 25% more cases, recording 35% more billable hours, and billing and collecting over two and a half times more than they did in 2016. The reason?
Newton attributes the increase in collections to the broader use of electronicpayments. At last year’s ClioCon, Clio introduced its own e-payments technology , Clio Payments, which Newton at the time called the most important product release since the company’s debut 13 years earlier.
Paradigm , the parent company to four legal practice management and payments products — PracticePanther , Bill4Time , MerusCase and Headnote — today adds a fifth, as it acquires TrustBooks , the cloud-based accounting software built specifically for law firms. “You can come to Paradigm and do everything you need to run your firm.”
For the 2023 Legal Trends Report , we’ve broadened our analyses of business performance to include data as far back as 2016. On average, they are working over 40% more cases and billing 70% more compared to 2016. Legal professionals are also collecting 72% more than in 2016. Key performance indicators—i.e.,
Since 2016, legal professionals have relied on Clio’s annual Legal Trends Report for an objective, comprehensive analysis of legal industry trends. They are also less likely to use video conferencing, electronicpayments , e-signatures , and cloud-based data storage. It also sheds light on the forces shaping legal practices.
Since 2016, legal professionals have relied on Clio’s annual Legal Trends Report for an objective, comprehensive analysis of legal industry trends. They are also less likely to use video conferencing, electronicpayments , e-signatures , and cloud-based data storage. It also sheds light on the forces shaping legal practices.
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