Time for "cost recovery tax?"

Resource - 19/01/2012 : costs recovery, feature article, Finance, Finance, Technology

As long as firms have been doing "cost recovery" there has been talk about doing away with it. It's a love-hate relationship: Firms love the ability to recover their costs for making copies, faxes, phone calls and such but hate having to...

Darwinism and the legal profession

Resource - 19/01/2012 : feature article, law firm profitability

The phrase "interesting times" could easily be applied to the last two years in legal practice management.

Continuing talk of an economic downturn, anticipated changes in the housing market, a market opened to unfamiliar...

Motivated staff - the key to performance in a cold climate?

Resource - 19/01/2012 : feature article, Finance, Finance, Human Resources, Practice Management

At a national user group conference in December I ran two workshops themed on the importance of internal communications in successful management.  Chosen because of its relevance to the keynote of the conference as a whole - "...

Learning to dance in the rain?

Resource - 19/01/2012 : budgeting and forecasting, feature article, law firm profitability, Finance, Finance, Human Resources, Marketing & BD, Risk & Compliance

One of the lessons that has been learned the hard way over the past few, very difficult months, is that the survival instinct is astonishingly powerful.

From an external point of view it has been...

Tikit unveils final annual results

Resource - 19/01/2012 : feature article, Technology, Technology

Tikit Group plc, a leading provider of consultancy, services and software solutions to major UK and European law firms and accountancy practices, today reports record preliminary results for the year ended 31 December 2008.

Costing the business

Resource - 19/01/2012 : costs recovery, feature article, Finance, Finance, Technology

The concept of cost recovery has been around in law firms for a number of years. Broadly speaking, it involves the recording and recouping of any marginal costs associated with a matter that are not otherwise captured by...

Real value, real benefits, real results!

Resource - 19/01/2012 : case management, feature article, software solutions, Technology, Technology

This feature article is provided by Eclipse which looks at the decisions law firms have to make when selecting a new Case Management solution.

In this rocky climate, law firms...

The 64% question

Resource - 19/01/2012 : feature article, Human Resources, Human Resources, Practice Management

What a fascinating thread is the subject of David Sparkes' blog from 27 March.  In it he states "For me, all this episode (of the Apprentice) did was remind me why law firms employ non-lawyers to run their businesses as opposed to do it...

Leverage: friend or foe of maximised profits per partner

Resource - 19/01/2012 : costs recovery, feature article, law firm profitability, Finance, Finance, Human Resources

Here, in the second installment of his article Scott Nickerson, LexisNexis Redwood Think Tank deciphers the arguments surrounding it.

"There has been a significant amount of debate on the subject of leverage over the past dew weeks, and...

Matter management made simple

Resource - 19/01/2012 : feature article, Matter Management, Technology, Technology

The 'popular wisdom' is that between 30% and 60% of a lawyers working day is spent shuffling paper, retrieving case files, making notes, generating and reading routine correspondence, sending and receiving and e-mails, and having...

Are your accounts staff legal?

Resource - 19/01/2012 : book keeping, feature article, legal accounts, Finance, Finance, Risk & Compliance

In the current climate of cost reduction firms may find that they are breaking the law by using the services of accountancy staff who are working illegally.

From 15 December 2007 Accountancy Service Providers (ASPs) must have money...

Is the worst behind us?

Resource - 19/01/2012 : budgeting and forecasting, feature article, law firm profitability, Finance, Finance

Some of the most recent headlines in the legal press have been aimed at the recession's impact on large law firms, and would lead one to believe that the industry is in a shambles.  Indeed the world's former largest law firm, Clifford Chance...

Using the recession to a law firm's advantage

Resource - 19/01/2012 : budgeting and forecasting, feature article, law firm profitability, Technology, Technology

With the economy in its current state, and the legal industry perhaps not as recession proof as previously thought, law firms are looking into ways to cut costs in order to improve profits. Previously I suggested ways to improve margins...

Elite: market momentum

Resource - 19/01/2012 : case management, feature article, PMS, Technology, Technology

Now is a good time to be at Elite, a Thomson Reuters business that develops financial and office management software for professional service providers around the world. According to president and CEO Steve Buege, Elite's newest product, 3E, is...

Finding success with the fixed fee arrangement - part 1

Resource - 19/01/2012 : alternative fee, feature article, Finance, Finance, Marketing & BD, Technology

To find success in a fixed fee alternative arrangement for both the firm and a client there has to be a solid knowledge of what the matter entails.  This statement really can be applied to any alternative arrangement.  Therefore, with...