Sentences with phrase «about law firm billing»

This contributed post by Larry Bodine presents an infographic developed jointly by Law360 and BTI Consulting and analyzes extensive research about law firm billing rates.

In 2009, while on deferral from the law firm Dewey & LeBoeuf, he wrote a satirical memo about law firm billing that got him fired from the firm (and from an internship with Warren Buffett), freeing him to turn his attention to Rap Genius.

Not exact matches

Maybe the NY Daily News should be careful about slander as well: check the Monday, March 15, 2015 Headline that states: «Veteran Long Island State Senator John Flanagan voted on bills that benefitted clients at law firm.»

A fundamental restructuring of the big law billing structure seems to be the most talked about measure, with the New York Times today picking up on the perennial law firm debate:

Last month, I posted about how Houston - based FMC Technologies turned to social media site Legal OnRamp to find innovative law firms willing to offer alternative billing arrangements.

Another complained about «associates not billing enough,» while another put it as «paying associates higher and higher wages in return for them earning the law firm less and less.»

Note that both Thomson Reuters and LexisNexis similarly aggregate law firm billing data through their products Peer Monitor and LexisNexis Counsel Benchmarking, as I wrote about in this 2014 ABA Journal article.

And today, the Wall Street Journal reports that clients are starting to proactively ask law firms about using Indian lawyers, who bill at around $ 75 to $ 100 an hour, the same rate for U.S. - based paralegals and often less than U.S. barred contract lawyers.

Seriously, how many law firms think hard about saving their client money by making sure the easiest tasks are handled by the lowest billing rate?

Most CRM vendors can't understand why law firms haven't implemented CRM as effectively as other businesses — particularly given that most firms already assiduously track data about clients and their matters for conflicts checking and billing.

«Big, powerful law firms like Nashville's King & Ballow really ought to hire someone with journalistic and new media experience to advise them on how to handle clients who complain about things published by bloggers,» says media relations consultant and blogger Bill Hobbs.

Given that law firm billing staffs are already oversaturated with different platforms they have to submit invoices to, they're unlikely to be thrilled about adding another platform to their docket.

You have to think about what best suits your law firm: All - in - one practice management solutions (e.g., Clio) vs. modular tools built for specific functions e.g, core tools like Microsoft 365 or Gsuite, Quickbooks Online and Box.com, with specialty tools as needed like Factbox, Law Toolbox, Evernote, and shameless plug, LeanLaw for timekeeping and billilaw firm: All - in - one practice management solutions (e.g., Clio) vs. modular tools built for specific functions e.g, core tools like Microsoft 365 or Gsuite, Quickbooks Online and Box.com, with specialty tools as needed like Factbox, Law Toolbox, Evernote, and shameless plug, LeanLaw for timekeeping and billiLaw Toolbox, Evernote, and shameless plug, LeanLaw for timekeeping and billing.

As Bill wryly put it at one of the early sessions, «Law firms just don't care about data.»

Citing about the work of Marvin Ervin, I painted a picture of a new kind of law firm — one that combines attorneys on the one hand with other specialists on the other (MBAs, accountants, and maybe billing experts) to improve the quality of service being delivered to clients.

A number of studies note the effect of law firm billing policies that affect learning about professionalism and ethics.

Why shouldn't consumers know more about high - billing lawyers and a law firm's track record when it comes to the core service for which they are being retained?

In that survey more than 60 % of small law firms reported spending about eight hours per month on their billing process — and about a quarter say it can take up to 16 hours.

Second, Carr was systematic about preventing liability before it arose (detailing his methods in two one - hour presentations, with slides, here and here — and in a dialogue with Patrick Lamb, a founder of Valorem — a law firm which never bills by the hour and bills solely by pre-agreed value of tasks).

Last month we shared a success story about one of our law firm clients, who used their invoicing and billing quality to advance a much broader relationship with a sophisticated insurance company.

I think that is a particularly astute observation and it mirrors what I hear at conferences and from client - side executives who tell me about the billing challenges they face with their law firms.

But, as you may know from our previous post about why the law firm business model is broken, billing for time doesn't scale (if you haven't read that post, you should probably read it before you continue).

About 72 % of small law firms have already invested in practice management tools, but aren't using the features for more effective billing and invoicing.

The other thing that's a little bit hard about online invoicing is that if you don't have the support to do payment plans or recurring billing on your own, then that's a very labor intensive operation that law firms have to deal with that can be operationally prohibitive.

I think so often metrics in the law firm library circle around things like number of reference requests, docketed / billed hours spent, and budget targets; it is good to learn about alternatives that provide more value for measuring performance.

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The majority — about 62 % — said their law firm typically spends between 8 - 16 hours a month invoicing and billing clients, while 58 % said they felt this was too much time.

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You might think it's strange for a company that helps law firms to invoice and bill their clients better to be talking about such big picture industry ideas.

A recent survey of 309 small law firms about billing processes places the promise of automation into an administrative context.

Readers of this blog seem prefer posts about two things: law firm billing metrics and industry studies.

You can learn even more information about how one type of legal software — law practice management software — can help you automate your law firm, including tips on batch billing and creating repeatable workflows here.

General counsel from 25 major companies are sharing data about their law firms, including billing rates, practice areas, and other business information.

In his Foreword to Remaking Law Firms: Why & How Eduardo Leite, Chairman of the Executive Committee of Baker & McKenzie writes «There was a time when we mostly worried about advising clients and billing time.

When you come across an article about law firm reporting, it is almost always about the finances... how many hours did I bill, what was my realization rate, what is our AR, etc..

About Rocket Matter, LLC Rocket Matter, LLC (URL: http://www.rocketmatter.com) provides a cloud legal practice management and time and billing solution for small to mid-sized law firms.

Law Firm Suites client and transactional attorney, Jason Huf, also mentioned this article in his recent blog post about «part - time in house counsel» arrangements as an alternative to the traditional hourly billing model.

For law firms to get smart about bidding on work they need a legal management infrastructure with deep knowledge and understanding of their matters, staffing resources, billing rates and spending data.

Just as the recent global recession upended conventional wisdom about, say, the immutable law of nature that residential property values always go up, these law firms have demonstrated that a firm can eschew hourly billing and yet grow profitably by focusing on efficiency, client satisfaction and predictability.

Equally, with lawyers thick on the ground and clients not terribly demanding about how they were used, we built great big law firms around a business model that viewed new lawyers as fungible units to be hooked up to a billing machine.

But he has been recognized more for his speaking and writing about how broken the legal publishing business is, and how out of alignment its billing is with the economics of law firms and their clients.

Jordan — don't be shocked, but I think if you asked Bill Stanbury about the real process of drafting competition policy laws over a quarter of a century, you would find that much of the detail happened in the boardrooms of major law firms.

I was pleased to read the post on 3 geeks about value billing as this is definitely a topic that needs exploring further, not least because I'm astonished by the number of law firm partners who continually tell me that it's for clients to find a pricing model that works for the firm's services.

Most law firms know astonishingly little about themselves beyond what they spent, what they billed, and what they made last year.

The firm is hardly the only one to consider billing alternatives — fixed fees, success fees, and the like — but it is making itself distinctive and different simply by talking about the taboo topic of how law firms charge their clients.

Law firms are encouraged to find out more about the new model form bill of costs for themselves.

On a separate panel about strategic planning for the legal department, Susan Jones, senior vice president and chief legal officer with Agrium Inc., said this year she presented external law firms with clear billing guidelines.

The mystery and minutiae behind law firm legal bills are things in - house counsel love to rant about, but those who have frequently been burned are finding ways to get clarity.

Law firm leaders talk a good game about how the firm «rewards what it values, and values what it rewards» but in reality many firms give scant regard to anything except seniority and billing.

It puzzles me that law firms consistently ask in annual surveys about whether bills are clearly presented, but are silent about mission - critical operational issues like information technology use and management.