UK Legal Market Trends and How This Affects Trade

UK Legal Market Trends and How This Affects Trade The UK legal market is one of the most challenging and competitive in Europe. However, despite the uncertainty caused by Brexit and a number of other factors, the market continues to grow. The latest statistics show that revenues are on an upward trend for most legal […]

How to Prepare a Law Firm for an Audit ​

How to Prepare a Law Firm for an Audit Internal audits help evaluate a company’s internal controls, such as its corporate governance and accounting processes. Audits ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection. Internal audits are also meant to provide management with the tools […]

The Effect of Currency Fluctuations on Litigation Costs​

The Effect of Currency Fluctuations on Litigation Costs When litigants with modest means enter litigation, the cost of legal representation is often their greatest financial hurdle. Inevitably, these parties are placed at a disadvantage by the high cost of litigation in foreign currency. Furthermore, fluctuations in exchange rates can force a party to either over-reserve […]

Managing a Law Firms Cash Flow​

Managing a Law Firms Cash Flow Cash flow is the lifeline of any business, and law firms are no different. Without it, the firm would be unable to pay its bills, staff salaries or other running costs. That is why it is so important to have a handle on your firm’s cash flow and understand how […]

How to Ensure the Financial Health of a Law Firm​​

How to Ensure the Financial Health of a Law Firm​ In business, we strive to provide outstanding service to our clients, but this is not the only key to success. We must also keep a tight hold on the company’s financial health to ensure business longevity. When running a law firm, finances may take a […]

Adapting to a Hybrid Working Law Firm Set-up​

Adapting to a Hybrid Working Law Firm Set-up​ Hybrid working – the blending of traditional office-based work with home-based and remote working – is set to become the new normal for law firms. It is an attractive proposition for both lawyers and their clients, who will benefit by reducing expenses, increasing flexibility and producing greater […]

How Law Firms Are Developing And Maintaining Prospective Long Term Client Relations

How Law Firms Are Developing And Maintaining Prospective Long Term Client Relations Introduction Prospective new clients are the lifeblood of a law firm. They are also perhaps the most challenging group to manage. Without a steady stream of new prospects, firms will struggle to keep their doors open and partners paid. [1] With so many […]

Why are the UK and Europe reluctant to accept Legal Tech solutions?

Why are the UK and Europe reluctant to accept Legal Tech solutions? Technology has changed the face of everything, and the law is no exception. Law firms worldwide are employing digital strategists and embracing the benefits of legal tech.[1] Before we dive into the legal technology solutions, it’s important to understand what this technology is.[2] Legal technology, […]

Why Legal Firms Are Focusing Their Outsourcing Efforts

Why Legal Firms Are Focusing Their Outsourcing Efforts In an age of increasing demands for efficiency, outsourcing has become a hot topic of discussion. Introduction The term ‘Outsourcing’ has been a buzzword for the last couple of years.  Outsourcing is becoming one of the new legal technology trends being embraced by law firms in an attempt to […]

UK’s Legal Sector financial losses in 2021 due to time wastage

UK’s Legal Sector financial losses in 2021 due to time wastage The speed of the legal business today is unprecedented. The pace of change, demands on lawyers’ time, and breadth of knowledge that they need to access, process and manage is reaching new levels.[1] Today’s legal practice management solutions are easily adaptable and scalable to any size firm, […]