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Your attorneys and legal staff will be able to spend more time on what matters, like project work and client matters—and less on busy work. . So let’s kick inefficiency to the curb as we wind up 2022 and prepare for your most efficient—and profitable and engaged—year by following these do’s and don’ts in 2023. .
The use of tech in law firms has increased from advances in AI-powered solutions to the proliferation of practice-specific tools like contract lifecycle management tools or practice management software to operational tools like CRMs and billingsoftware. billion globally in 2022.
So you would bill the client $30. Demystifying the Billable Hour: How to Right-Size Your Rates With prices rising so much over the last year (global inflation is forecasted at 8.8% in 2022), it’s the right time to look at your current rates and see if you’re charging enough to remain profitable.
Short for legal technology, legal tech is computer software that provides numerous tools to streamline, automate, and enhance various tasks traditionally performed manually, such as: Document management. Legal document automation software systems enable legal teams to merge data to turn template documents into automated workflows.
Reducing administrative workflows has been a major priority for law firms in the last few years, but there is still an opportunity to review billing processes. According to the ABA , only 52% of solo attorneys use time and billingsoftware, and small firms aren't much better, with 66% leaning into the ease of a billing workflow.
in 2022), it’s the right time to look at your current rates and see if you’re charging enough to remain profitable. Download free guide Don’t compromise on legal detail If you’re using the Legal Electronic Data Exchange Standard (LEDES) , you’ll need those codes in an invoice for certain clients.
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