Not Meeting Your Profitability Goal? Is Overhead to Blame?

Improve Profitability As the first quarter of 2017 comes to a close, many firms are reviewing the goals set in January and comparing them to the results of today. Firms are discovering our industry’s new normal—historically low mortgage defaults coupled with high costs of compliance—requires a new approach in order to regain a strong financial position.

No matter your alma mater, Business Management 101 taught us the only way to improve profit margin is to increase revenue or decrease expenses. Increasing revenue is more invigorating, but success is gradual.

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3 Critical Things to Consider Before a Law Firm Merger or Acquisition

In the past two years, we’ve seen many law firms throughout the country seriously consider a merger or acquisition or have already undergone one. Given the current business environment, it’s a trend that’s likely to continue.

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5 Ways to Guarantee Your Firm is Billing Properly

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.

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5 Reasons Efficiency Should Be Your Law Firm’s Top Priority

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.

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Improving Your Firm’s Business Process with the AIDE Approach

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.

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Services for Full-Service Law Firms by Firm Solutions

4 Ways Default Law Firms Can Cut Costs

The housing crisis of the mid 2000’s was a boom period for creditors’ rights law firms.  In most states, there was an over-abundance of work and competitor firms were, initially, in short supply.

Since the rebound of the mortgage and housing market, creditors’ rights law firms are dwindling due to demise, acquisition or merger. The current environment is highly regulatory and when firms are under the increased compliance scrutiny in addition to the squeeze on resources, it’s crucial for them to cut costs and work as efficiently as possible to retain a profit margin and grow their business.

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