Today LexisNexis® CounselLink released its 2022 Annual Trends Report. The unstable economy and a tighter legal market have not caused law firms to pull back on billing rates. To the contrary law firm partner billing rates rose faster last year than they have in a decade.
The average partner rate increased by 4.5% (compared to 3.4% in 2021 and 3.5% in
Continue Reading LexisNexis CounselLink Report: Law Firm Partner Rates up 4.5% in 2022
Over the past year, the sibling legal technology companies MyCase and LawPay have published a series of reports on law practice, including benchmark reports based on anonymized data from the two companies’ customers, as well as an in-depth 2022 year-end legal industry report, based on a survey of over 2,300 legal professionals. Together, they provide an in-depth look at
Continue Reading The Post-Pandemic State of Legal Practice, with Nicole Black of MyCase
From : Blog Entry >> Marcos’s Blog EntryAs a lawyer, managing your time and billing can be an unnerving task. Without proper management, you could easily lose track of your billable hours, miss important deadlines, and ultimately… lose clients. Thankfully, legal time and billing software exist to streamline these processes and make your life easier. In this article, we
Continue Reading The Power of Legal Time Tracking and Billing Software: A Guide for Law Firms
Aderant, the company that provides business management software for law firms, said today that it will soon release an AI-powered product that will automate law firms’ compliance with outside counsel guidelines.
It will launch the product, which it calls Onyx, at its Momentum user conference in Denver May 8-11.
“Law firms have been grappling with billing and compliance for
Continue Reading Aderant Will Soon Launch AI Product to Help Law Firms Comply with Outside Counsel Guidelines
Business management software provider Aderant is rolling out Onyx, an AI-powered outside counsel guideline (OCG) management solution that seeks to set itself apart by automating and validating guideline compliance for law firms.
Continue Reading Aderant Unveils AI-Powered Onyx To Automate Outside Counsel Guidelines Compliance
Let’s face it, hourly billing is cursed in so many ways. But for the lawyers who bill by the hour, perhaps the greatest curse is simply have to keep track of their time. That is why several companies in recent years have developed passive timekeeping tools for lawyers — tools that keep track of a lawyer’s time even when the
Continue Reading Passive Timekeeping Can Earn A Lawyer An Extra $22K A Year, MyCase Data Analysis Shows
It is a day of major legal tech deals. Following news earlier today of the merger of Fastcase and vLex, now comes news from Thomson Reuters that it is selling off a majority stake in Elite, its suite of law practice management and financial products for larger law firms, to TPG, a global asset management firm, making Elite a
Continue Reading Thomson Reuters Spins Off Elite As Independent Company Now Owned By Asset Manager TPG
As part of the sale, Thomson Reuters will maintain a minority stake in Elite , which includes 3E, ProLaw, eBillingHib and Mattersphere, and actively support its ongoing development.
Continue Reading Thomson Reuters Sells Majority Stake in Elite Product Business to TPG
European late stage private equity firm TPG has agreed to buy a majority stake in Thomson Reuters Elite at a valuation of $500 million. The announcement was made internally at …
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SurePoint, a company that provides practice management, financial and client relationship products for mid-sized law firms, today announced the appointment of a new CEO, Eric Thurston, a veteran business-transformation leader with more than two decades of experience scaling and leading high-growth software and services companies across several verticals, including legal.
Venture investor Mike Suchsland, a veteran of
Continue Reading New CEO at SurePoint, Eric Thurston, Says His Focus Will Be On Customer Service And Company Growth
LeanLaw, a company that provides a financial operating system for small and mid-sized law firms, said today it has raised $4 million in a Series A financing round led by FINTOP Capital.
Based in Boise, Id., LeanLaw’s cloud-based product provides IOLTA trust accounting, time and expense tracking, billing, matter management, electronic payments, and reporting.
LeanLaw integrates and synchronizes
Continue Reading LeanLaw, Cloud-Based Legal Financial System for Law Firms, Raises $4M Series A Round
Dru Armstrong, CEO at AffiniPay, LawPay’s parent company, told Legaltech News that LawPay Pro seeks to provide attorneys with a more catered, lightweight offering that is less intimidating than a full practice management solution.
Continue Reading LawPay Launches LawPay Pro: New 'Stepping Stone' Between Billing, Practice Management
With ABA TECHSHOW beginning Wednesday, you can expect several companies to introduce new products and features this week. First up is the online payments company LawPay, which today is announcing a new product tier, LawPay Pro, that enhances the standard LawPay electronic payments platform with the addition of legal billing features.
The additional features, such as time tracking and
Continue Reading LawPay Introduces ‘Pro’ Tier to Bridge Features Gap Between Payments and Practice Management
When lawyers leave private practice to take an in-house counsel or government position, they are often asked about the differences in their new roles. Many of them say they are pleased not to have to complete timesheets anymore – it is a relief not to have to look at the day in six-minute increments. As most of you know, I’ve long
Continue Reading The Trouble with Timesheets
Aderant today (8 February) announces a strategic partnership with London-based legal spend analytics and matter management provider, Apperio. The two companies plan to deliver a solution that law firms can leverage to …
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