Law firms have long talked about the attractiveness of migrating their IT infrastructure to the cloud, but they have not made appreciable steps to date. This is due in large part to an understandable fear of negative client reaction, especially in regulated markets such as finance. In truth, restrictive outside counsel guidelines of even a few large clients often were enough to put the brakes on cloud initiatives.
The rise of data analytics has in the past decade substantially impacted how businesses operate and provide services. The legal industry, on the other hand, has been much slower to adopt analytics than other verticals. That is beginning to change, as interest and investment grows in legal organizations.
Revenue Control has been by far and away the busiest area for hiring across the legal accounts function in recent years for our team, with significant change and evolution of teams across the legal sector.
In ecology, the term “edge effect” refers to the boundary of two or more habitats. At the edge of two intersecting habitats scientists find greater diversity of life, including unique species that are specially adapted to the conditions of the zone where the two habitats come together.
Yes, we may still be discussing some of the same challenges that surfaced years ago in the legal ecosystem, but now we have a sense of “vuja dé” – seeing something familiar with a fresh perspective – a viewpoint that allows us to gain new insight from old problems.
MHA’s Year End Tax Planning Guide summarises some key tax and financial planning tips which should be considered prior to the end of the tax year on 5 April 2019 or for companies, the end of the financial year on 31 March 2019.
Your capital contribution is a significant investment in your professional future, which should be treated as any other investment; you need to believe in the strategy and ethos you are buying in to and expect a return on your investment.
Depending on the structure of the firm, employment status can be a contentious issue, especially for junior partners who do not always have a guaranteed profit share and may have minimal voting rights.
Are you fully prepared for the additional responsibilities, liabilities and reduced statutory rights? The potential for reward is far greater, but so are the risks and it is important you are fully prepared.