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Clients Are Spending More on Legal Tech: Can Smaller Firms Keep Up?

Attorney at Work

the percentage of in-house legal budgets spent on technology is expected to increase threefold by 2025 from 2020 levels as legal departments “increase spending on technology to reduce the dependency on outside counsel, address COVID-19, and satisfy a long-overdue need to modernize, digitize and automate legal work.”.

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Paradigm, Parent to Three Practice Management Platforms, Acquired By Francisco Partners

LawSites

It began by acquiring Bill4Time in 2017, followed by PracticePanther in 2018, MerusCase in 2019, and Headnote in 2020. Over the summer, this blog broke the news that Thompson Street Capital Partners had acquired Tabs3 Software, one of the oldest practice management products, and which also owns cloud platform CosmoLex.

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Small Firm Lawyers Are Awash with Optimism about their Practices, Thomson Reuters Survey Finds

LawSites

The average law firm attorney spends just 56% of their time practicing law, down from 58% in 2020. Most often to case management software, billing and invoicing software, and practice management software. 2020 Survey. . 2020 Survey. Cost control and expense growth for real estate, salaries and the like.

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Payment Plan: Abacus Payment Exchange Offers Law Firms New Ways to Get Paid

Attorney at Work

Abacus Payment Exchange (APX) is a proprietary tool that has been built from the ground up and engineered exclusively for law firms. If queried, most law firms would point to March of 2020 as the point in time that everything changed. Flex Appeal: Payment Options in Abacus Payment Exchange.