Firm Intelligence: The Advantages of a Single Source of Truth
“Lawyers want one place to go for the answer. And the answers have to be definitive.” That was the simple answer provided by Simpson Thatcher’s Director of Knowledge Management, Tanisha Little, when asked what it means to have a single source of truth. Getting there, however, is not so simple, but a panel discussion at Litera’s Changing Lawyer Virtual Summit 2021 entitled...
Legal
Firm Performance
Kelley Drye & Warren, LLP Streamlines Document Production with DocXtools
OVERVIEW Kelley Drye & Warren, LLP is an international law firm that prides itself on efficiency, excellence in advocacy, and the innovative use of technology. The firm experienced significant growth and wanted to maintain the ability to deliver consistent, high-quality documents to its clients – even when requests for attention come at the 11 th hour. SOLUTION The firm...
Drafting
Legal
DocXtools
Transforming Performance Management to Performance Enablement.
Annual performance appraisals are universally unpopular and have been for a very long time. In a fast-moving law firm environment, your approach to performance enablement should enchant top talent with a vision of how they will contribute, grow and achieve their potential at your firm—not stifle them with a process that fixates on their past performance.
Litera buys shipping and invoice management and processing specialist PS/Ship
CHICAGO, IL - January 11, 2022 - Litera, a global leader in legal technology solutions, announced today it had acquired Lynch Marks, LLC, a California-based company, and developers of PS/Ship. The acquisition adds another piece to the Litera platform for law firms looking to solve more problems facing their legal teams through a single technology partner integrating with...
Finance
Firm Performance
PS/Ship
How Microsoft Word's Compare Function Falls Short for Lawyers
You wouldn't expect to see Gordon Ramsay cutting into a perfectly cooked beef wellington with a cheap knife he picked up at the grocery store. Danica Patrick wasn't winning NASCAR races in a street-legal daily commuter car. Artists, skilled craftspeople, artisans, and athletes all bring phenomenal talent and years of dedicated effort to their work. But they don't stop...
Drafting
Legal
Compare
Firmwide Analytics and Pricing
Welcome to the fourth installment in our blog series on firmwide analytics. Ask anyone who has attended a legal conference recently, and they will tell you that data is everything. From AI applications to machine learning, it all hinges on information. However, there seems to be less certainty about exactly which data everyone should be collecting. Or why for that matter'...
Legal
Clocktimizer
Firm Performance
Are Phase and Task Codes Really Accurate?
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 it to improve the business of law. For many law firms, this will entail combining and analyzing multiple streams of data within their firm to...
Legal
Clocktimizer
Firm Performance
How to Develop a Communications and Stakeholder Strategy for Effective Legal Project Management Scaling
You can have the best Legal Project Management strategy and team in the world, but without adoption they will have little impact on your firm's profitability or operations. This week, we offer advice on mapping stakeholders and communicating for better adoption. As ever, this series is designed to be a practical guide so we will be sharing tips and tools gathered during...
Legal
Technology
Clocktimizer
Firm Performance
Understanding The ROI of Law Firm Process Improvement
A survey performed by LexisNexis as recently as 2018 found that 74% of mid-sized firms in the UK do not measure the ROI for investments in technology. This is in spite of the fact that 87% believe that technology contributes to profit growth to 'some extent'. Plainly, these two statistics are at the heart of a conundrum facing the legal world. On one hand, we see an...
Legal
Technology
Clocktimizer
Firm Performance
Changing Law Firms: 5 Principles For Successful Change Management
Humans, generally speaking, do not enjoy change. Our desire to avoid it is well documented . Most of us will walk the same route to work each day. We will order our favorite food from a takeaway restaurant, rather than try something new. We find the familiar comforting. However, most of us are also aware that change is necessary. Essential even. In law firms change has...
Legal
Technology
Clocktimizer
Firm Performance
A Quick Guide to Data Fallacies (and How to Avoid Them)
As we have noted in recent blogs , data collection and analysis is essential to the long term success of your business. Whether it be profitability analysis or looking for ways to improve processes, data guides the process. However, data analysis is not something to jump into blindly. While working on drawing meaningful conclusions from your data, you are likely to...
Legal
Technology
Clocktimizer
Firm Performance
Legal Project Management at Scale: A Practical Blog Series to Guide Law Firms Towards Predictable Matters
It has been over a decade since the term 'Legal Project Management' began to crop up in job adverts, at legal conferences, and on Request for Proposals. Since then, legal project management has grown in answer to the myriad of challenges facing modern legal teams. A combination of increasing transparency towards clients (and all the reporting that goes with it), in...
Artificial Intelligence
Foundation
Law firm pricing and analytics
A practical guide to increase the impact of your pricing strategy. Many law firms already understand the importance of data. After all, you would have to have lived under a rock for the past few years to have missed the huge strides data collection and analysis have made in other industries. From the way we are advertised to the complexities of our online finance systems...
Legal
Clocktimizer
Finance
contentCrawler Business Use Case
Research indicates that as much as 30% of documents in a content repository are “invisible” to search. The culprits usually turn out to be image-based documents - JPGs, TIFs, PNGs and image PDFs. While many of these documents get OCR’ed, some do not, and since they are image files with no text, they do not get indexed. Instead they become invisible to search technology.
Drafting