Outsourcing is widely used among law firms to help maximize their profitability potential. It can increase efficiencies and reduce spending on non-revenue-generating positions at your firm. Read more
One of our recent blog posts – 4 Ways Default Law Firms Can Cut Costs – covered how law firms can become more efficient by eliminating things that don’t improve profit margin or grow the business.
As a follow-up, this post focuses on how creditors’ rights law firms can accomplish more with less by leveraging technology and maximizing how it’s used. Read more
One of the many things we see when consulting with law firms to improve their business processes is that many are missing out on billing opportunities or billing incorrectly, resulting in a high percentage of rejected invoices or uncollected funds. If a law firm’s business processes aren’t well organized, then it’s at a higher risk for billing for less than entitled, or not at all.
The ability to accomplish a task or process without wasting materials, time or energy is a key factor to successfully running a law firm. But it’s easy to lose sight of efficiency when the necessities of practicing law, coupled with compliance requirements, pull your team in different directions throughout the day.
There’s a reason law firms hear the same thing over and over again like, “Eliminate costs, increase efficiencies and focus on revenue-generating tasks.” It’s because there is significant profitability potential in doing them. Unfortunately, most firms haven’t found the processes that work best for them, because it can be difficult to identify disconnects and opportunities to improve.