How timekeepers in the front office interact with technology can slow or accelerate processes in the back office.Read More
What role will the cloud have in the law firm technology stack of the future? It’s a challenging question to answer because the legal community is divided on the benefits and drawbacks of the cloud. What one law firm sees as a benefit, another cites as a risk.Read More
The vast majority of law firm leaders believe pricing pressures, competition and the need for efficient legal service delivery are permanent trends. That’s according to the 2016 Law Firms in Transition report by Altman Weil.
In other words, this is the new normal and demand for legal services will never return to the pre-2008 recession levels. If the market isn’t growing, then it’s essential to maintain profits through market share and efficiency.
“If the market isn’t growing, then it’s essential to […]
Law Firms, Legal Tech and Remaining Curious: Five Questions with Aderant President Deane Price
The legal industry is in a period of evolution. While we’re not going back to the pre-recession days of annual rate hikes – this isn’t the new normal either. The business of law will continue to evolve, according to our own top executive Deane S. Price.
Earlier this year, Aderant announced Deane was promoted and taking the helm of the legal technology business following Chris Giglio’s […]
Practice management is the true backbone of a large law firm’s technology. From time and billing to invoices and reporting, it is the system on which a law firm manages its business, and also encompasses a lot of the ways they interact with their clients.
The decision to procure a practice management solution is obviously significant given the central role it plays in both the day-to-day and strategic operations. However, it is also a lasting decision, it’s a big-ticket technology […]
In 2017, continuing education in technology will no longer be optional for lawyers in Florida. New changes just went into effect requiring training in technology as part of the Minimum Continuing Legal Education (CLE) Standards.
The modification “requires attorneys to complete 33 hours of CLE over a three-year period, with three hours in an approved technology program,” according to reporting from Big Law Business by Bloomberg.
While Florida is joining the ranks of two dozen other Bars that already say licensed […]
We bank online, we shop online, we work online, some of us even find love online. Increasingly, we’re not just doing these things online, we are also doing it on the move. And so too are lawyers.
The trend has been steadily tipping toward mobile for some time: In 2014, we began spending more time accessing the internet on mobile devices than on desktops. In 2015 Google reported more searches were being conducted on mobile devices than on desktops. In […]
By the year 2020 smart machines and legal process outsourcing (LPO) will “radically disrupt” the legal profession.
That was the prediction first put forth by market research firm Gartner, Inc. in a 2014 report called Legal IT Scenario, 2020. The project examined four possible, perhaps even controversial, scenarios affecting the buyers of legal services.
As we look ahead to 2017, we draw ever closer to the once seemingly distant 2020. The question remains –what does disruption mean for large law?
“As we […]
Several years ago, an article in the ABA’s Law Practice Today asked us to imagine a global industry managed by “part-time leaders with minimal business training.”
The business ran for decades on the same model, with few coherent strategies for growth, marketing or pricing. Executives were asked to wear many hats in their enterprises, including professional expertise, sales, marketing, human resources and management. Customer demand never wavered and profits continued to grow at a healthy pace.
Nearly every day we hear news of some new, large-scale cyber hack. For instance, the recent OPM database hack compromised personal information for over 21 million past and current federal employees and contractors. This attack, along with those on Target, Home Depot and several large insurance companies, have certainly brought the issue of cybersecurity to the forefront. Opinion polls consistently report the risk of a cyber-attack as one of the top three issues keeping executives up at night.Read More
While firms likely won’t be relying solely on data analytics for their partnership-level hiring decisions any time soon, advancements in business intelligence technology is providing some additional key metrics for this process.Read More
When we think of automation technology affecting industries, we tend to associate it with lower-skill jobs that can adequately be replaced with robotics or software.Read More
Despite its reputation as a slow adopter of change, the legal industry is beginning to implement new technology at an increasing rate. During our recent survey of legal professionals in North America, Europe and Asia-Pacific, we found that 98 percent of law firms undertook one or more technology initiatives in 2014.Read More
Customer service tends to be an administrative issue handled by someone else. However, in today’s highly competitive legal market, a firm’s customer service level is fast becoming a differentiator between successful firms and all the rest.Read More
Amid rising pressure to increase revenues and profitability, lawyers are beginning to focus more on improving the processes they use to run their firms.Read More
The relationship between firms and technology is complicated, to put it mildly. While many firms already own advanced technology solutions, they are failing to properly train, integrate and adopt these systems into their practices.Read More
Often, the business advice given to firms overlooks some very basic steps that can quickly improve their performance. The term “strategic planning” may sound abstract, but if pursued in an intelligent way, it can effectively address many of your firm’s everyday challenges.Read More
Briefing, published by the Legal Support Network talks to Karen Bailey, head of solutions consulting EMEA for Aderant, about combining business intelligence and matter management tools to make a great leap forward in pricing and profitability.Read More
A technology vendor somehow manages to oversimplify or overcomplicate an issue and operates at a distance. Conversely, a partner will always try to resolve issues, make your working life easier, and find simple solutions to complex problems. As the proverb goes, “If something sounds too good to be true, then it most likely is.”Read More
Few would argue that social media is rapidly changing every aspect of our daily lives. Mobile technology has transformed the way we communicate, work, and ultimately make new connections. For most law firms, however, this transformation to an online-centered world pushes up against the tried-and-true methods of word-of-mouth referrals, client meetings, and paper-based practices.
I will admit that, until recently, I was skeptical about social media in the legal industry. Sure, social media works for technology-oriented industries, or for sales […]
I’ve seen a number of stories lately proclaiming that big data is taking over the world, therefore your firm “must adapt or die!” While I confess to being a big proponent of integrating business intelligence (BI) products into your firm, the reality is that law firms around the world have been relatively slow to adopt the new data technologies. And they are not alone; a recent Gartner survey showed that only 30 percent of all organizations have invested in […]Read More
Can you imagine your legal practice five or even ten years from now? If you think that’s difficult, try doing that while properly judging which of the current “hot” legal trends will pan out and which will fall by the wayside. A CIO at one of our firms recently remarked that “the legal industry is going through 30 years of change compressed into five years, and we are now in year two.”
In a recent entry titled Anticipating the Future […]
The “Heartbleed Bug” has already become a nightmare for anyone tasked with data security, and frankly any company that maintains data critical to its business operations. This reality puts every existing law firm at risk of a serious data breach. A recent story in Corporate Counsel found that the Heartbleed Bug “challenges all that is known concerning Internet security. Because Heartbleed is a structural flaw, it can be exploited repeatedly and without notice to users. Some estimates suggest that […]Read More