Welcome to the third instalment 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 […]

Welcome to the second 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 […]

As we outlined last week, we are starting a new blog series covering firmwide analytics. Having already looked at what a data governance policy actually is, we will be diving further into the topic’s practicalities. Namely, we will be looking at the sort of data your firm should be collecting, which areas it should be collecting them in, […]

“Time and money are your scarcest resources. You want to make sure you’re allocating them in highest-impact areas” – Matt Trifiro At Clocktimizer, we’re in the business of data. We believe that the right data, and the right analysis of that data, can guide firms towards making better decisions. However, data collection and analysis is no […]

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, […]

For the past few blogs, we have been highlighting the importance of data in law firms. Not only how it is collected and stored, but why. We have shown the importance of evaluating the quality and accuracy of your sources. We have also looked at how good data can keep budgets on track in a huge variety […]

For the last few blogs, we’ve been discussing the importance of data management. A good data governance policy not only identifies how to collect and store data, but why. Data governance is becoming increasingly important, particularly as the legal profession is becoming increasingly data-driven. Clients are demanding transparency and an end to billing by the […]

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 […]

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 performance have taken over the media. In large part, poor communication about who or what uses your personal information have fuelled these […]

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-selling, when successful, is of huge value to a law firm. In previous blogs we looked at research which demonstrated cross-selling by one or […]

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 work done faster, smarter and more efficiently. No wonder, then, that clients are increasingly demanding […]

Law firms pursuing too many new business opportunities is adversely impacting their business development efforts, according to a study released today by LexisNexis InterAction. This lack of focus and poor prospect targeting was among the top obstacles for business development success, along with a lack of follow-up and heavy competition. As was the case during […]

Thomson Reuters today announced the launch of eBillingHub® Insights, actionable reports that deliver vital data in easy-to-read graphical reports that replace table-only reporting. The new reports are the first deliverable in a robust strategy of delivering more value to eBillingHub clients. The first two reports include Accounts Receivable and Rejection Summary and are a direct […]