AI isn’t the first technology to disrupt the legal industry, but it’s driving a faster pace of change and altering the law firm-legal department relationship, legal analysts report.
Continue Reading How Will AI Disrupt Legal Billing? Early Innovations Offer Some Clues
Practice Management Platform Filevine Adds Native Payments Feature to Round Out Its Time and Billing
The law practice management platform Filevine has added the build-in ability for law firms to accept electronic payments from clients, capping off its suite of time and billing capabilities in a new feature set it calls Time Tracking, Billing, and Payments.
The new Payments by Filevine allows firms to accept ACH, credit card and debit card payments, and to
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How It Works: A Demonstration of Sage Timeslips, Software for Attorneys’ Time Tracking and Billing
In this episode of the LawSites video series How It Works, we get a demonstration of Sage Timeslips, a time-and-billing platform for law firms, legal professionals, and service-based businesses that offers a suite of features to streamline time tracking, invoicing and financial management.
To demonstrate the features of Sage Timeslips, our guest today is Desi Williams, sales engineer.
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Using AI and Automation For Back Office Tasks: A Quiet Revolution in Law Firm Management
As I previously posted, I spent last week at the ILTA conference in Orlando. Like just about every legal tech discussion and conference these days, talk about generative AI and its uses in the substantive end of law practice dominated. Lost in all this hype, though, a quiet revolution is going on with the use of AI and automation
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Legal Tech Rundown Part 1: Aderant Launches AI Chatbot, Latham & Watkins' Web3 Venture, and More
An update on the legal tech market’s past few weeks, from product launches to new partnerships.
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The Rising Cost of Legal Services: Insights from 10 Years of Data from CounselLink’s Kristina Satkunas
Our guest this week is Kristina Satkunas, Director of Analytic Consulting at LexisNexis. Kristina discusses the recently released LexisNexis CounselLink Enterprise Legal Management Trends Report for 2023. This annual report provides insights and benchmarks on key metrics related to corporate legal spending and outside counsel relationships.
The 2023 report found that law firm hourly rates increased 4.5% over the
Continue Reading The Rising Cost of Legal Services: Insights from 10 Years of Data from CounselLink’s Kristina Satkunas
LexisNexis CounselLink Report: Law Firm Partner Rates up 4.5% in 2022
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
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The Post-Pandemic State of Legal Practice, with Nicole Black of MyCase
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
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The Power of Legal Time Tracking and Billing Software: A Guide for Law Firms
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
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Aderant Will Soon Launch AI Product to Help Law Firms Comply with Outside Counsel Guidelines
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
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Aderant Unveils AI-Powered Onyx To Automate Outside Counsel Guidelines Compliance
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.
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Passive Timekeeping Can Earn A Lawyer An Extra $22K A Year, MyCase Data Analysis Shows
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
Thomson Reuters Spins Off Elite As Independent Company Now Owned By Asset Manager TPG
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
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Thomson Reuters Sells Majority Stake in Elite Product Business to 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.
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Breaking news: TPG to acquire majority stake in Thomson Reuters Elite
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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