Law department analytics survey reports

The rise of data analytics has in the past decade substantially impacted how businesses operate and provide services. The legal industry, on the other hand, has been much slower to adopt analytics than other verticals. That is beginning to change, as interest and investment grows in legal organizations. Corporate law departments are increasingly embracing data […]

Preparing for the next economic cycle: Why law firms are looking to centers of excellence to increase operational efficiency

Although the predicted time frame varies, most business economists suggest that a recession is on the horizon within the next two years, according to a survey by the National Association for Business Economics released in late February. At the end of the year, many CFOs were predicting a recession in the U.S. by the end of this year, and […]

RevenueManager: Ensure fee earners keep their time recording up to date

In a business that sells time, law firms know and understand that effective and accurate time recording is essential for profitability, and where there are fixed costs, understanding profitability. A poorly executed time recording policy and strategy will impact on the firm negatively.  Being able to monitor, understand, manage and enforce fee earners on their […]

Optimising cash flow management for law firms

A seamless cash flow is of paramount importance for law firms, as they receive 80 percent of their revenue from 20 percent of clients. These firms are the source of recurring revenue, and hence, retaining such clients in the long run is vital for legal organizations. However, due to various constraints such as an increase […]

Insight Legal now recognised by HMRC for making tax digital compliant software

Independent software company, Insight Legal Software has today announced it has been formally recognised by HMRC’s list of VAT compatible software products, ahead of the upcoming Making Tax Digital (MTD) regulation coming into effect on 1st April 2019. MTD is part of the government’s initiative to make it easier for businesses and sole operators to ensure they get their […]

Suppliers in the spotlight: A look at procurement priorities for law firms in 2019

  Procurement plays an essential role in law firms’ ability to reduce and contain costs, manage risks and improve the level of supplier service delivery. Reflecting procurement’s rising value, a majority of law firms (67 percent) have established a procurement function, according to a Procurement Leader survey conducted in connection with HBR Consulting’s 2018 Law […]

The edge effect of the legal ecosystem

In ecology, the term “edge effect” refers to the boundary of two or more habitats. At the edge of two intersecting habitats scientists find greater diversity of life, including unique species that are specially adapted to the conditions of the zone where the two habitats come together. Today’s corporate law departments and law firms are […]

Only 55% UK legal firms will be prepared for Making Tax Digital regulation – Advanced survey reveals

HMRC wants to make it easier for getting VAT returns right first time, minimising costly mistakes, but latest Trends Report shows firms not ready Just 55% of law firms in the UK say they will be ready for Making Tax Digital which comes into force from 1st April, according to Advanced’s latest Trends Survey Report1. […]

Tikit Carpe Diem introduces Intelligent Time

Tikit, part of the BT Group and leading provider of technology solutions for law and professional services firms, today unveiled Intelligent Time as part of its flagship Carpe Diem timekeeping application. Intelligent Time has already been nominated as a finalist for the inaugural Legaltech Product Innovation Competition, taking place January 31 during Legalweek New York […]

HBR Consulting: LegalXchange 2018 executive summary

The legal industry is at an inflection point. Yes, we may still be discussing some of the same challenges that surfaced years ago in the legal ecosystem, but now we have a sense of “vuja dé” – seeing something familiar with a fresh perspective – a viewpoint that allows us to gain new insight from […]