News Article - 17/01/2020 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

More and more, data visualization is becoming a key component of all industries – especially the legal industry. Data-driven business is booming and keeping up with the trend not only benefits your law firm, it also benefits your clients....

Resource - 16/12/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Marketing & BD, Marketing & BD

Last week’s blog, on the importance of Data Governance, looked at how and why law firms use data. We stressed how essential it is to have a Data Governance plan, not only for safeguarding the data you collect, but also to use...

Resource - 16/12/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Marketing & BD, Marketing & BD

Data Governance has had something of a resurgence in public consciousness in recent years. Horror stories of Amazon and Google using humans (rather than the more impersonal AI) to listen to your conversations to optimise...

Resource - 16/12/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Marketing & BD, Marketing & BD

Cross-selling pervades most industries. From Zara attempting to push the latest homewares on you, to Apple foisting another wearable on the market. However, within the legal industry, cross-selling is relatively unsuccessful. But why? Cross-...

Resource - 16/12/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Marketing & BD, Marketing & BD

Operational excellence. Attendees of this year’s legal(tech) conference circuit will be no stranger to the term. It has become the new holy grail of both in-house counsel and their law firm counterparts. Put simply, it is the desire to get...

News Article - 10/12/2019 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

The billing model for law firms has been changing over recent years. As clients want more transparency, law firms have been forced to modify their billing models to include fixed fees, capped fees, and other alternative fee arrangements (AFAs)....

Resource - 03/12/2019 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

Automation is becoming so important for law firms today that even the American Bar Association is encouraging more legal professionals to adopt business automation services. Legal automation software makes law firms more efficient, more...

Case Study - 21/10/2019 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

For decades, law firms have charged their clients by the hour. It was a solution that seemed logical at the time. There is a lot that goes into working a case, and no way to tell how long it will take when an attorney begins to pursue one. As...

Resource - 30/09/2019 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

Law firms, like any other business, must continuously track their key performance indicators (KPIs). These metrics go far past the Billable Hours metric that most attorneys track closely and are a great way to help legal teams better manage...

Resource - 27/09/2019 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

Law firms are in the business of helping people, but they are still businesses. Large law firms have teams of people working on analyzing and investigating their performance on key metrics. Smaller law firms, on the other hand, may struggle to...

News Article - 17/09/2019 : Analytics, business intelligence, dashboards, data, Iridium Technology, legal it, matter pricing, profitability, revenue, Finance, Finance

Case Study - 11/09/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Practice Management, Practice Management

Firms often run countless numbers of complex matters at once. Keeping track of all this; the wins, the losses, whether something is over or under budget; is impossible without good project management. However, LPM’s are often held back...

News Article - 27/08/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Marketing & BD, Marketing & BD

In the years before the financial crisis, being a CFO of a law firm was (for the large part) about crunching numbers. With an hourly rate structure, it wasn’t as complex as some industries and for the large part CFOs supported strategic...

News Article - 27/08/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Marketing & BD, Marketing & BD

Picture the scene. Fancy Investments Inc. (a potentially exciting new client) has decided that they need to review their external counsel. They are looking for a firm to advise their asset management team on regulatory and tax management issues....

Case Study - 17/05/2019 : budgets, business intelligence, machine learning, Matter Management, pricing, Technology

As some wise person once said, necessity is often the mother of invention. Stephen Allen, global head of legal operations and innovation lead at Hogan Lovells, explains that Clocktimizer, which his firm has been using to wrangle and enrich its...