Published By: Quovant
Published Date: Oct 01, 2019
Even with the greatest level of talent on your in-house legal team, you will at some point, need the services of external counsel. When an organization rates its outside law firms, selecting just the right data might be a challenge. Business leaders may not be lawyers, so it may be necessary to rely on the self-assessment of firms to determine the “health” of their programs.
But does it need to be that subjective? Hard data is an essential tool when it comes to performance evaluation. There are specific metrics organizations can use to evaluate law firm performance. While it may not be “all about the money,” these key metrics can provide insight into how your panel handles its work and the value of the results you receive.
The legal industry is well past the days when scrawled notes in a day planner constituted time recording. The business of law has changed, requiring that time entries comply with client requirements and firm objectives. We believe the path forward is a new concept that we call “compliant time”: a way to streamline timekeeping and improve time-capture accuracy while also ensuring adherence to OCGs.This ebook explores the gaps and inefficiencies in the current stateat most law firms and shows how compliant time can help resolve these issues. Insights into how current processes impact and inhibit internal law firm stakeholder objectives reveal why firms simply must find new approaches. Declining realization rates, competitive market forces, and lawyer attraction/retention challenges are all factors that point to a need for change in time and billing technology.
Published By: Computhink
Published Date: Dec 10, 2007
Like most law firms, Salter Feiber deals with vast amounts of documents, a significant portion of which needs to be kept for long periods of time. "We tried to keep the files closed during the last 12 months onsite," says Kim Chewning, Firm Administrator. "Everything else was sent to a third party for storage in a secure facility." However, as the archive grew, so did the storage cost.
Published By: Polycom
Published Date: Jun 29, 2017
Law firms are under increasing pressure to respond quickly – often within hours – to client demands. Failure to increase agility can result in costly client churn, but law firms are often ill-equipped to be so nimble.
As a result, it may be time to consider a technology that has been proven integral to law firms around the world - video collaboration.
In under 30 minutes, we'll explain:
Common use cases for video collaboration - going way beyond team meetings to the tasks at the heart of practicing law
The types of solutions deployed - if you think an expensive, wall-mounted, on premise solution is your only option, you may be surprised by what's available
From the meeting room to the courtroom - hear how a this technology is proliferating the courtroom and how the best lawyers will be equipped to take full advantage
Six hours a day. According to research, that’s how much of a lawyer’s time, on average, is spent on administrative tasks or new client development (sound familiar?). Fortunately, technology and the data it generates can help you streamline systems and processes — and reveal important insights about your firm. But what tools should you use? How should you implement them? We’ve got the answers. Our guide outlines what you need to know when leveraging technology to reduce admin inefficiencies and, better yet, increase cash flow. You’ll learn how to identify what metrics matter most to your practice: like billable hours, profitability by client and hiring decisions. It also spotlights helpful tools, like PwC’s InsightsOfficer, that turn data into insights, impacting your firm’s performance.
Published By: Tripwire
Published Date: Jun 30, 2009
Find out whether your health company's network systems are well enough to pass an internal security checkup, or are running the risk of a much more invasive examination by federal regulators and plaintiff's lawyers.
Ensuring your data is compliant can be a fairly straightforward
task. Your IT team works their way through the checklist, and
stays out of trouble with lawyers and regulatory agencies.
There’s value to that. But true data protection is more than
regulatory compliance. In fact, even if you’re compliant, your
organization could still be at risk unless you strategically identify
and protect your most valuable data.
Traditionally, you’ve been presented with IT security
metrics—sometimes reassuring, other times alarming. But
simply reviewing IT security metrics is not meaningful in and
of itself. As an executive, you don’t evaluate issues in siloes.
Instead, you excel at assessing issues in the broader context
of your organizational operations. In other words, technical
security data and metrics lack value unless viewed through
the lens of business risk.
When you’re presented with IT security metrics, your
question is: What does this mean for my business? And
ultimately, what data should I
In our technology-enabled era, most law firms have moved away from
manual processes to embrace electronic timekeeping. However, many
continue to struggle with time entry accuracy and bill rejections related to
noncompliance with outside counsel guidelines (OCGs). All stakeholders—
finance, operations, lawyers, and clients—want to solve this problem; not
only does it result in inefficiencies of process and reduced realization due to
write-offs, but it also impacts client goodwill. Firms know something needs
to change, but so far, they haven’t found the answer. In short, they have
arrived at a crossroads.
This ebook explores the gaps and inefficiencies in the current state. Insights into how current