Posts by Suzette Welling, CLM.
Understanding your law firm’s billing data is the key to avoiding financial issues that could create sticky situations with clients. Getting a grasp on the cost of doing business will help your firm handle the principles of law firm finances with ease.
Check-in on any firm administrator or managing partner communication platform, and you will find conversations regarding the challenges of finding help. There is a shortage of good talent and the difficulty in recruiting that talent is felt across the board by firms of all sizes and locations. Learn what you can do about it.
Law firms today are finding it increasingly necessary to meet specific client needs with their invoices. How does your firm receive payments from clients in a timely manner? Is it important that your invoices communicate the information expected by each client in the format that they require? Ask yourself, are you managing this process in a way that is financially beneficial to your firm?
Software is constantly improving, and firms that continue to use server-based software are finding it impossible to keep up with advancing technology. If a firm wants to take advantage of the latest and greatest, is it essential to be willing to adopt a cloud-based system?
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Without a plan for where you’re headed, you will never arrive at the desired destination. Growing your law firm is no easy feat, but there are simple planning steps you can take to ensure you set yourself up for success. The common saying goes, “if you fail to plan, then you plan to fail.” Don’t let that be you!
We all know it’s easier to keep an existing client than to obtain a new one, yet many firms fail to focus on practices that will ensure their clients receive a consistently positive experience with their firm. Take a look at some of the common mistakes that firms make that can be easily addressed to create a more positive client experience.
Today more than ever, attorneys are realizing there is more to being a lawyer than the practice of law. Firm leadership needs to run the firm like a business. The…
Law firms who wish to work for insurance carriers or larger companies are finding it almost impossible to do so if they are unable or unwilling to practice LEDES e-billing. For the firm manager who has never dealt with LEDES e-billing requirements, the task can feel daunting. With a basic understanding and a few tips to get your invoices approved through the audit process, your firm can accept clients who require e-billing without fear.
If your firm has decided it needs to move into another practice area, you may be wondering where to start. There are many things to consider, check out our tips to get you started!
Change can be hard, but without it, your firm will lack the progress and development needed to stay competitive. There are steps you can take to encourage your firm to embrace this change and mitigate the pain points that arise from such adoption. Take a look!
There are multiple metrics that your firm can use to monitor and ensure financial success. One of those is how you structure your departments
The legal billing process can be a challenge for every law firm, but it doesn’t have to be. A combination of the right policies, procedures, and technology can be used to stay on top of attorney time and make the billing process efficient and accurate.
How does a firm determine the cost of their product? It isn’t as complicated as you may think, find out why!
What does your cash flow look like this year? How about your net income by year-end? Having a quality budget in place removes the guesswork and fear from your financial picture and ensures you end up where you want to go.