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The Legal Practice Management events are the must-attend events for everyone in practice management from SME law firms.
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According to a new study – the 2017 Aderant Business of Law and Legal Technology Survey which is being released today, the top two challenges facing law firms today are pricing pressure and operational efficiency among 16 choices. Improving operational efficiency as a driver of profit, therefore presents a key opportunity given the law firm economics of time and billing.
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Law firms haven’t “upended” the partnership model just yet, but they are facing headwinds and are the source of a major trend unfolding in the legal market. While artificial intelligence is grabbing much of the attention, in the background law firms are rethinking the traditional partnership model and focusing on becoming better businesses.
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This month, LPM magazine delves into the pitfalls legal businesses fall into during M&A – and how they can avoid them to secure a successful union
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In this supplement Briefing, with the help of supplement sponsors Prosperoware and LexisNexis Enterprise Solutions explores business intelligence, reporting and what analytics should be working harder for your firm.
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In 2015, 11.5 million documents referred to as the Panama Papers were leaked from a Panamanian law firm and revealed widespread global tax evasion involving notable individuals (including FIFA soccer officials and the Icelandic Prime Minister).
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If you are looking for a new job, your strategy should include registering with recruitment agencies. A good recruiter will make your job search much easier and is an important element in your search for a new job.
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Your law firm is a business. Like all businesses, growth and profitability is paramount. You want to see your client base grow and your profits increase, year on year. Even more importantly, you don’t want to go backwards just because you are so involved in the business you need to keep your eye on the bigger picture. You may have other goals – opening another office or being recognised as experts in a niche field. Whatever your measure of success, you want it to endure.
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The Balance Secret Series provides an insider view on the realities of working within the different specialist roles that occupy a law firm finance department. These are real accounts from specially selected professionals who have developed highly successful careers within their chosen fields. Under the cover of anonymity, the Secret Series allows you to find out the good, the bad and the ugly....
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The Money Laundering Regulations 2017 have been in force since 26th June. While the SRA have said that they are taking a proportionate and pragmatic approach as firms take steps to comply with the new requirements, there is no indication of what this means in practice and is likely to be of little comfort if your firm comes under scrutiny.
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Finalised in mid-2015, the ‘Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017’ was only just recently approved by parliament and commenced on the 26th June 2017. Despite being aware of it for over two years, firms have only had access to a draft version of its content since March 2017 and as such, have had a notably limited amount of time to prepare for the new regulations.
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I’ve been reading up recently on the growth of the Amazon business and was intrigued by founder Jeff Bezos’ constant refrain that Amazon is a long-term business – in fact he still describes the company as having a start-up mentality. His point is Amazon was never intended to be a get-rich-quick scheme that would yield immediate benefits but one that would develop over years (and decades) into an industry giant.
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Recruitment is a major cost for most organisations, taking into account agency and social media fees, staffing, advertising and other overheads. Sourcing candidates with the relevant experience, skill set and culture fit can be a struggle for HR and hiring managers.
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Deltek explain how to deliver cost-effective projects that are also rewarding for your financial position.
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We are deeply embedded into the age of the customer, and the key to survival is data-driven and insights-driven customer obsession. Forrester’s research shows that positive customer experience (CX) correlates to greater increases in revenue and profitability. In February 2017, Dun & Bradstreet commissioned Forrester Consulting to evaluate how enterprises are leveraging data and analytics to drive decisions and strategy in pursuit of customer obsession and the role the CFO plays in achieving that goal. Forrester conducted an online survey of 250 finance executives at organizations with $150 million or more in revenue to explore this topic.
