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The Shape of Things to Come (Our Fearless Prediction)

Colin S. Levy

And if clients refuse to pay for humans to handle routine work, what will that mean to a law firms bottom line? Weve heard all of the fears about GenAIs use in the practice of law. Imagine a world in which a law firm has figured out a way to use GenAI to do simple tasks quickly and well. We dont think so.

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A Mindset Shift on Law Firm Metrics Could Grow Your Firm

Legal Talk Network

You can look at] small data, I mean think about it, you’ve got a corpus of information in your law firm through which you can measure your clients and your staff and the activity of those two groups. Smart law firms are motivated to track effectively because if you want to get paid you want to track your financial information.

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Milestones, Startup that Automates Client Updates, Raises $2.1M Seed Round, Rebrands As Hona

Above the Law - Technology

In what is clearly a major milestone for Milestones , a legal tech company whose product provides law firm clients with automatic updates on their cases, it has closed a $2.1 The company, founded in 2021, had previously raised $500,000 in pre-seed funding.

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Everything You Need to Know About Law Firm Revenue

Clio

It’s also an important metric for law firm owners to track —especially if you want to grow your firm and improve your profitability. But how do you know if your law firm’s revenue is enough to grow and scale your business? And how does your firm’s revenue stack up against the average law firm revenue?

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Report: Law Firms that Adopt E-Payments See Speedier Collections, Increased Revenues

LawSites

Not surprisingly, the pandemic drove greater use of electronic payments across all industries, with the volume of electronic payments up 11.2 % in the first quarter of 2021 over the prior year. Notably, for law firms that adopted e-payments and offered clients the ability to pay online, the benefits were tangible, the report finds.

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Passive Timekeeping Can Earn A Lawyer An Extra $22K A Year, MyCase Data Analysis Shows

LawSites

This first report, published last week , looks at law firm productivity, using anonymized data from lawyers who are MyCase customers. It found that, overall, the number of billable hours lawyers captured using the time-tracking tools in MyCase more than doubled from 2021 to 2022, for a total of 18,426,955 hours. .

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Bankruptcy Law Marketing: Tips & Tricks to Grow Your Practice

Lawmatics

Bankruptcy law firms face mounting competition and pressure to stand out. With a few dominant players controlling a large share of the bankruptcy market, niche practices must get creative and strategic with their marketing to attract clients and grow their business. As a result, firms must adapt their marketing approach.