how can a law firm improve

What can law firms do to make themselves more profitable in a highly competitive environment with little to no demand growth? 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 … Although many kinds of innovations can improve a law firm’s chances of success, technological innovations are high on the list. Case in point: A recent survey of law firms we conducted suggested about one-third (30%) of law firms have someone dedicated to the responsibility of law firm innovation. Law firms can get terribly competitive for their own good with scenarios straight out of films depicting corporate and law scandals might even come true. Evergreen retainers are beneficial for your law firm and your clients, as they increase your law firm’s cash flow and collection rate, and can help streamline accounting at your law firm. By Craig Dekshenieks, Director, Content & Marketing Operations, Aderant. Modern law firms and legal departments continually look for new ways to increase their efficiency and drive productivity. If you want to be competitive in a competitive market, turn to your BI for answers to these top questions. View Products. In fact, a recent survey revealed that as many as 30% of all law firms have at least one employee or partner dedicated to staying ahead of the technological curve. Nevertheless, less than 30% of law firms have an employee tasked to drive innovation technology, and the same is likely true of corporate legal departments. FREE TRIAL. It is a great time to be a lawyer at a law firm. Innovation is a bit of a buzzword in law firm circles, but research suggests there’s a very real effort behind it. Clients want focus and value from their law firm. Those firms and companies that do have dedicated technology specialists tend to be larger or even the … Across the board, there is a tremendous amount of pent up and latent demand for legal services. Take a look you may get some additional ideas. Your clients can pay in stages instead of a lump sum, and replenish the amount once the retainer hits a predetermined minimum balance. Recently I wrote: How a Law Firm Can Provide “Ritz Carlton” Service . Here are a few ideas that emerged over the course of the discussion. If you want to be competitive in a competitive market, turn to your BI for answers to these top questions. More Insights. This is immensely beneficial in helping a law firm to appear in search results for prospects looking for legal services. Today at 1:00 CST, Shawn Tuma and I are doing a Webinar on blogging and social media for … Take a look you may get some additional ideas. 1. Listings in online directories. The firm helps law and other professional service firms improve the operations and management of their practices and the lives of their practitioners. Try any of these effective law firm marketing strategies. Clients want focus and value from their law firm. Listing your law firm onto high quality directories also build links to increase online presence.

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