LPM magazine investigates what SME law firms do to make high volume, low margin practice areas more efficient
Tech in – LPM teams up with Converge TS to dive into how clients are driving SME law firms to build better connections with technology
- How much will it cost you, both now and in the future?
- What are the tiers of partnership and what are the steps to full equity?
- Which covenants and policies are likely to affect you? e.g. pension, SMP, SPP, SSP etc.
- Does it match with your own goals and aspirations for the future?
- What are the implications throughout your career?
- What level of financial information about the firm is available to you?
- Profit share and extraction (see below)
- Who pays your tax and on what basis of earning?
At Quill, we’re dedicated to getting the job of cashiering right. You see, we’ve been supplying outsourced cashiering services for 20 years, half of our company’s life, and we’ve earned ourselves an enviable reputation as a market leader in cashiering based on our 100% accuracy rates. Demand for our services has grown year on year. That’s why we’re now the UK’s largest employer of outsourced cashiers.
Stuart Kaye, director & licensed conveyancer at Adams Kaye, understands the important role technology plays in running a compliant operation and delivering quality legal services. Having launched his boutique residential property law firm with fellow founding director, Paul Adams, earlier this year, Stuart’s mission is to offer personalised services blended with sophisticated IT.
This month, LPM magazine finds out what it takes to get your voice heard at board level.
Tech in – LPM teams up with Converge TS to dive into how clients are driving SME law firms to build better connections with technology.
According to research, 59% of home movers are getting two or more quotes before selecting their conveyancer as clients look to obtain an immediate quote. Therefore, it’s imperative for firms to be able to provide instant quotes at a time that is most convenient to the client.
Rather than the traditional methods of phone calls or face-to-face visits, home movers are now seeking digital channels to find quotes online in the evenings and on the weekends, when they are not at work.
Thomson Reuters has acquired OLAP Vision, a Toronto-based producer of budgeting and forecasting, profitability, and financial reporting products under the Xcelerate brand which provides 3E, Enterprise and ProLaw users valuable budgeting and forecasting and financial reporting solutions. The Elite business has worked closely with OLAP Vision since 2010.
Workshare, the leading provider of secure enterprise file sharing and collaboration applications, announces that international law firm Clifford Chance is to adopt its transaction management platform, Workshare Transact, for global rollout. Workshare Transact provides Clifford Chance lawyers with a clear and simple online tool to manage transactions, with the initial stages of rollout targeting Conditions Precedent or closing checklist processes in their transactional practice groups.
Law departments are eager to make use of legal analytics technology to better manage their spend and help guide other decisions. According to HBR’s 2017 Law Department Survey of 300 U.S. and global law departments, nearly half of all respondents reported already having legal spend analytics technology, and 24% planned to adopt in the next two years.
About Sprout IT
Sprout IT enable law firms & barristers’ chambers to achieve competitive advantage and peace of mind, through the innovative use of best-of-breed technology, focussed cyber security and resilience, award-winning services, and passion for service excellence.
From Document Management Solutions and fees/diary software, to email archive, compliance, encryption and security, Sprout IT can plan, implement and support your entire infrastructure.