According to the Legal Trends Report for 2021, your firm’s utilization rate allows you to assess the workload and productivity of your firm. It’s one of the most crucial KPIs for legal companies to monitor. Utilization, Productivity and Profitability are the terms that often confuse. In this article, we’re going to discuss Utilization & its […]
We are all aware of the need for recycling paper, metal, and glass. But how often do we consider incorporating sustainable business methods into our operations? According to the Big Four firm KPMG’s 2020 Survey of Sustainability Reporting, “The Time Has Come,” 80% of prominent corporations worldwide currently report on sustainability. Although 90% of executives […]
Happy employees mean happy customers and better profits! But do you know Lawyers are one of the least happy careers in the United States. They rate their career happiness 2.6 out of 5 stars which puts them in the bottom 7% of careers. Moreover, only 44% of Big Law lawyers report satisfaction with their profession, […]
The term Data Analytics is extremely popular nowadays. In fact, it is employed in seminars and tech talks as a sophisticated vocabulary or a trendy topic to speak about. However, only a few people are aware of its practical implications. The purpose of this blog is to give you a basic grasp of buzzword data […]
Unpaid Invoices are one of the biggest issues for any law firm. It’s not law firms don’t have any process and ways for this, they have, but that involves human intervention and has its own drawbacks. Challenges with manual follow up: Time taking. Possibilities of human errors. And of course, Revenue Leakage. Solution by Legalxgen […]
Hola readers, I hope you found the previous blog on various billing types for law firms useful where we have talked about the following billing types: Fixed Fee Consolidated Hourly Fee Person Hourly Rated Fee Retainership Fee Milestone based Fee So, tell me, how confident you are now in choosing the right billing type for […]
Have you ever realized how crucial it is to understand the billing policies and types of billing methods for any law firm? A clear, consistent law firm billing policy is vital for saving your law firm’s valuable time and money, and understanding it is a must. It provides something for lawyers and workers to refer […]
Do you want to expand your business? Well! you’re not the only one in this race! Millions of businesses are battling to turn casual visitors into buyers. And the best part is that understanding how to accomplish it doesn’t require you to go back to school to master the basics of customer service and sales, […]
To understand the subject better let me ask few questions about your law firm: 1. Do you have an idea, how many new matters the law firm has opened last month? 2. What’s the number and value of Invoices the firm has created, and the amount received? If you have the figures related to the […]
Do you ever wonder why industries change, how they adapt, and, most importantly, how they feel about the change? You’re probably wondering why I’m bothering you with this. Let me give you some figures: only one-third of attorneys (34%) believe their firms are well-prepared to keep up with technological advances in the legal business, even […]
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