Latest from the LSC - November 09

News Article - 19/01/2012 : billing, legal services commission, Technology, Technology

As all solicitors are no doubt aware, the LSC will be introducing a number of reforms to Civil and Criminal Billing designed to cut costs across the board. As a result of these changes, the billing process will become increasingly complex with...

Fitting the bill

News Article - 19/01/2012 : billing, electronic payments, Finance, Finance, Technology

All law firms should adopt an electronic billing system to provide clients with the efficiency and consistency they increasingly expect, says Damian Blackburn

Electronic billing means different things to different people. To some, sending...

Microsoft cuts back legal budget by 15% due to recession

News Article - 19/01/2012 : alternative billing structures, billing, microsoft, recession, redundancies, Finance, Finance

Microsoft's legal department has seen its legal budget cut by 15% over the last 18 months, leading to a 5% reduction in headcount, according to the software giant's general counsel, Brad Smith.

Before the cuts, Microsoft's legal department...

Saturn27 launch free bill template health check and new iVAT product

News Article - 19/01/2012 : billing, compliance, saturn 27, Finance, Finance

Increasingly firms cannot ignore the issues surrounding compliance as 2010 looms which has inspired Saturn27 to launch their new billing template health check service - for free!

This is in addition to their new iVAT product which...

Citigroup now using alternative fees for one third of all work

News Article - 19/01/2012 : alternative billing structures, billing, citigroup, Finance, Finance

Citigroup now manages nearly a third of its external legal work under alternative fee arrangements, according to the banking giant's general counsel, Michael Helfer.

Speaking at a panel debate last month, Citigroup's Helfer told a US...

Raft of top City firms call for partners to tighten up billing

News Article - 19/01/2012 : billing, city law firms, recession, Finance, Finance

A raft of top 15 firms have been tightening up billing procedures and piling pressure on partners to improve collections in response to the recession.

City firms including Herbert Smith, Lovells, CMS Cameron McKenna and Bird & Bird are...

Cash-strapped law firms and lawyers up borrowing to pay tax bills

News Article - 19/01/2012 : billing, revenue, tax, Finance, Finance, Practice Management

Law firms facing a cash flow crunch are sharply increasing their borrowing to meet tax liabilities, a lender to the legal profession has reported.

Syscap, an independent finance provider, says loans sought by firms have almost doubled...

Banks push for alternative billing as claims rise

News Article - 19/01/2012 : banking, barclays, billing, lloyds bank, Finance, Finance

Banks are clamping down on litigation fees as they move to cope in the face of spiralling claims against financial institutions.

Top City firms are reporting growing numbers of banks pushing for alternative billing methods for litigation...

Official figures reveal top public buyers of law

News Article - 19/01/2012 : billing, revenue, SRA, Marketing & BD, Marketing & BD

Sixteen Government departments racked up legal fees of more than £1m each over the last three years through the panel designed to centralise Whitehall legal spend, with JobCentre Plus emerging as the biggest spender.

The data,...

A&O bucks City trend with plan to hike fees

News Article - 19/01/2012 : Allen & Overy, billing, Finance, Finance

Allen A& Overy (A&O) is going against City trends by planning to increase its London billing rates in a bid to cover escalating costs and maintain profit.

The discussions about increasing charge-out rates are taking place as major...

Weightmans in talks with two firms with merger or team hires on table

News Article - 19/01/2012 : billing, revenue, Human Resources, Human Resources, Practice Management

Weightmans is in formal talks with national firms Mace & Jones and Vizards Wyeth.

RollOnFriday first reported news of the talks with Vizards earlier today (7 January), with Weightmans later confirming that it is in talks with both...

Elite Receives Gold for Billing Manager from the 2009 Law Technology News Awards

News Article - 19/01/2012 : billing, elite 3e, Finance, Finance, Technology

Elite, a Thomson Reuters business, received a Gold award in the seventh annual Law Technology News Awards. Elite Billing Manager won the Gold in the Time and Billing for Large firms (100+ lawyers) category, a distinction the company has won in...