How has Technology changed the job of the lawyer?
How has Technology changed the job of the lawyer? The legal profession is not immune to the same technological trends that have touched every industry. Part of advancing the technology revolution in law is the digitization of case law. Last year, the Harvard Law School Library announced the completion of its Caselaw Access Project (CAP), which scanned Harvard’s entire case law library, thereby digitizing […]
CRM for Legal Firms: What Legal Firms Need to Know
CRM for Legal Firms: What Legal Firms Need to Know Introduction Legal professionals of today must be masters of their domain and also have a broad set of skills. In the scope of advanced data analytics, artificial intelligence, and other technologies, legal professionals are required to stay relevant and informed. [1] The legal industry is […]
Law Firm Presence on Social Media, is it Required?
Law Firm Presence on Social Media, is it Required? The law, or the practice therefore, is, at its heart, a business. Thus, like any business, the size, scope and engagement of your client base determines a legal practice’s profitability. Fully exploiting a customer base relies in part on the quality, speed and cost of the […]
A Guide to AML for Law Firms
A Guide to AML for Law Firms While law firms are not technically what many would class as financial institutions, they are still obligated to establish and maintain an effective anti-money laundering (AML) compliance program. As law firms provide professional services that may be used to facilitate money laundering and other financial crimes, they are […]
How to Manage a Law Firm’s Internal Fraud Risks
How to Manage a Law Firm’s Internal Fraud Risks When it comes to law firms, there is no such thing as being too careful when safeguarding against internal fraud risks. Since 2019, almost 19,000 reports of thefts undertaken by an employee were reported, and that’s just the losses detected. Out of the 45 police forces that […]
How to Prepare a Law Firm for an SRA Audit
How to Prepare a Law Firm for an SRA Audit As a law firm, you should be aware of the Solicitors Regulation Authority’s (SRA) rules and regulations surrounding audits. The SRA regulates law professionals who manage client money in England and Wales and ensures that they comply with professional standards[1]. It is always best […]
How to Manage more Pro-bono Cases and their Benefit
How to Manage more Pro-bono Cases and their Benefit One of the most common terms bandied about in standard mainstream media depicting lawyers is that of ‘pro bono’. Indeed, the popular legal drama Suits (which Robert Hanna’s legally speaking podcast makes a point of regularly riffing on as an icebreaker) frequently uses pro bono as […]
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 […]
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 […]
