Competing With Larger Firms? There May Be an App for That
Small and mid-sized law firms have their work cut out for them. Over the last several years, most large law firms have created internal R&D departments to increase efficiency and …
Permanent Verification: The Most Prevalent Blockchain Use Case for Lawyers
According to the U.S. Securities and Exchange Commission, blockchain distributed ledgers could “ensure that compliance and transparency are hard-wired into the very fabric of the market.” In the legal sphere, …
How Billing Optimization Can Improve Law Firm Profits
Digital billing and practice management systems are now common in law firms. With the many options for online billing available, especially with billing platforms that allow third party applications to …
How to Improve Profitability Using Billing Data
Many specialized industries are undergoing significant change as a result of automation and the largely unfettered access to information. The legal field has also started to feel the effects of this disruption, …
Lawyers: Reduce Stress with the Help of Technology
The entertainment industry has a storied history of amplifying the dramatic aspects of life and downplaying the more mundane. This is most evident in the portrayal of the legal field. …
Artificial Intelligence: A Primer for Lawyers
Many articles and news reports showcase how Artificial Intelligence (AI) is being increasingly utilized by many different professions and industries year after year. For example, online tech magazine ZDNet recounts that venture …
Improving Efficiency: Finding the Best Legal Tech Solutions
Improving efficiency is an ever-important but never-ending aspect of maintaining and growing any business, including law firms. Having a finger on the pulse of technological advancement keeps a firm “in …
Corporate Crowdfunding: An Untapped Resource
Recent years have seen an explosion in crowdfunding activities, with sites like Kickstarter and GoFundMe being used to raise funds for everything from funeral costs for fallen heroes to potato …
Improving Realizations and Collections is More Profitable than Increasing Rates
Increased client scrutiny of legal fees has taken a significant toll on law firm profitability. Previously, law firm realization and collection rates would often range from 90 to 95%. However, since …
How Your Law Firm or Legal Department Can Quickly Become “Data-Driven”
A recent article in the Illinois Bar Journal asks: “When it comes to optimizing your practice, do you trust your gut? Don’t. If you aren’t using data to measure what works …
Business of Law—What Is ‘Customer Lifetime Value’ and Why Is It Important?
For the many lawyers who bill by the hour, time is money. The more time hourly billers spend on billable work for clients, the higher the expected revenue. This is …
DocumentConnex: Verify Documents and Other Files Years Later
DocumentConnex was created with your needs in mind. Take advantage of the application’s groundbreaking technology, so you can sign, verify, and import files in a simple and secure way. As …
Crowdfunding for Lawyers: Opportunities and Challenges to Address the Cost of Legal Services
Crowdfunding has become an established and viable fundraising tool for the better part of the last ten years. Initially, entrepreneurs found great success funding business ventures and projects for which …
Artificial Intelligence and the Future of Legal Work: Why It’s a Good Thing
A plethora of recent news reports show how Artificial Intelligence (AI) is being integrated into more and more facets of the professional world each year. In fact, market research company …
How Billing Optimization Can Increase Revenue
The vast majority of law firms use some sort of digital billing or practice management system. However, not all such systems are created equal. New technological advances have made for …
Data-Driven Decision Making: Why Billing Data is More Valuable Than You Might Think
News about “data-driven” solutions in various business verticals is frequent. The good news for lawyers is that the advances in Artificial Intelligence (AI) and machine learning that make the data-driven …
Meeting the Needs of Modern Clients Requires Automation
Automation is often seen as a potential industry-wide paradigm shift for lawyers. New York Law Journal’s deputy editor-in-chief Susan DeSantis indicates that some have seen the rapid increase in the …
Outdated Technology Could Be Costing Your Firm Money, Reputation, and More
Keeping up with technological advancements can be challenging, but the alternative could hurt the profitability of your firm, and in extreme cases could even threaten its viability. It’s natural for …
Online Intake Forms: An Ethical Concern or Duty?
Attorneys need to know as much about a prospective client’s legal issues – and the client – as possible in order to determine whether or not to accept the client. …
Enriching Litigation Finance Through Crowdfunding
Crowdfunding is a go-to fundraising resource for modern entrepreneurs. However, the idea of crowdfunding to finance legal action continues to largely escape popular consciousness. According to a report by the National Association …
Optimizing Profits Per Partner Using Data-Driven Solutions
Implementing data-driven and online billing solutions is often easy to do, and is also often the most effective way to drive profits per partner and other law firm metrics. This …
How Technology Can Help Lawyers Deal with Stress
There are ways to cope with the stress and pressure while maintaining the pursuit of the ever-elusive work/life balance. The entertainment industry has done an extraordinary job making the legal …
Why Lawyers Have Nothing to Fear from Machine Learning and AI
The move toward automation is becoming pervasive in various industries. As with any massive change, apprehension is bound to follow. In the case of automation, much of the angst is …
How Crowdfunding Can Revolutionize Access to Justice
The concept of crowdfunding is based on the idea that it’s easier to get a lot of people to give a little than it is to get a few people …
Automation Can Address the Costly Uncertainty of Billing
Most lawyers are familiar with their ethical obligation to limit their fees to reasonable amounts. Rule 1.5 of the American Bar Association’s Model Rules of Professional Conduct reads: “[a] lawyer …
The Legal Industry Is Turning to Data to Improve Business Operations
Business decision making processes are changing with the rise of analytics, cloud-computing tools, and big data. Similarly, the legal sector is also evolving to implement new technologies to improve efficiencies …
New Technologies: Streamlined Approaches to Change Management
Despite the disruptions often involved in implementing new technology, many law firms have discovered that the temporary inconveniences prove valuable in the long-term. For example, in its recent “State of …
Solutions to Optimize Legal Practice Management
No longer is there any need for the legal industry to fall behind in the implementation of AI and machine learning to propel operational efficiencies. FREE TRIAL View Products More …
Using Computer-Assisted Billing to Find the Elusive Reasonable Fee
What is a “reasonable fee”? Articulating a concise yet all-encompassing definition is much more difficult than relying on Supreme Court Justice Potter Stewart’s infamous quote, “I know it when I …
How to Pay For a Lawyer: Financing Options For Legal Fees
When engaging the services of a lawyer or a law firm, one of the first questions that often arises is whether you can afford the attorney’s fees. Paying for a …
EffortlessLegal Announces Massive Expansion of Integrations Offerings
EffortlessLegal LLC, a Chicago-based tech company bringing advanced Artificial Intelligence (AI), automation, and machine-learning technologies to the legal space, announced today that many of its revolutionary applications now work with …
Computer-Assisted Legal Billing Benefits Everyone
The internet age pulled back the curtain and encouraged disruption in many specialized industries, and the legal field is no longer an exception. Lawyers used to be allowed more latitudinal discretion, …
How to Use Data to Make Your Business Better
Innovative solutions for smarter legal billing have arrived to drive revenue increases for law firms while also controlling costs for clients. Although seemingly at odds, data-driven legal billing applications can …
EffortlessLegal Announces Launch of “GroupFund Legal” Application
CHICAGO: EffortlessLegal LLC, a Chicago-based tech company bringing advanced automation and machine-learning products to the legal space, announced today the launch of GroupFund Legal, a crowdfunding platform that revolutionizes the …
Automating Manual Processes: Some of the Latest Applications to Consider
Many articles have addressed the fact that recent advances in legal technology allow law firms to enhance the delivery of their legal services by automating manual processes using artificial intelligence …
Looking for Ways to Reduce Manual Overhead? There May Be an App for That
New advances in software automation and its application to legal work are providing opportunities for law firms to significantly reduce overhead expenses and execution timelines, while maximizing productivity. The high …
Stress Management: How to Reduce the Pressures of the Profession
We know that the film and television industry portrays the legal profession as non-stop excitement and drama, such as in Chicago Justice and Law and Order, but the reality is …
Optimize Law Firm Revenue
Innovative solutions for smarter billing have arrived to drive revenue increases for your law firm. Lawyers are all too familiar with the rush to get bills out every month. FREE …
Optimize Local Counsel Management
Managing local counsel and assembling their billing is a time-consuming challenge. Manual entry and non-compliant billing cause delays in the legal billing process, with both lead and local counsel losing …
What is Machine Learning and How Does BillerAssist Use It?
Artificial intelligence and machine learning may feel mystical and hard to understand. However, as Arthur C. Clark said, “[a]ny sufficiently advanced technology is indistinguishable from magic.” Machine learning may look …
Increase Revenue and Profits with BillerAssist’s AI and Machine Learning
What metrics does your firm use to determine efficiency and profit? Two commonly used metrics are “realization rate” and “collection rate”. According to the 2018 Legal Trends Report, “realization rates” …
Start Up Alley Competition
The 2019 ABA Techshow EXPO is a three-day event for lawyers, legal professionals, and attendees to discuss and learn the latest in legal industry technology with over 100 technology vendors …
Billing Automation Boosts Realization and Collection Rates
Cost control has been a hot topic in the legal sector at least since the financial crisis of 2008. The economic downturn led many clients to look more closely at …
Optimize Transparency With Your Outside Counsel Billing
With the myriad responsibilities of a company’s legal department, in-house counsel are well served to find the best ways to increase efficiency and productivity. One of the most prominent ways …
Law Firms, Clients Should Heed the Tech World, Consider Crowdfunding
Entrepreneurs routinely use crowdfunding platforms to help fund their big ideas. When it comes to crowdfunding for lawyers and legal cases, however, the practice hasn’t quite caught on. Concerns about …
Blockchain: What Is a “Distributed Ledger” and Why Is It Useful to Lawyers?
As the digital age has given rise to newer, more efficient technologies, legal professionals have begun to integrate them into standard legal processes. From video conferencing software to voice controlled …
Artificial Intelligence: A Litigator’s New Best Friend?
As the ways to utilize artificial intelligence (AI) grow, so do the amount of people implementing this cutting-edge technology to their work. According to Statista, the rate of adoption is …
Top Five Reasons Why Outdated Technology May Be Hindering Your Firm’s Potential
Are these obsolete technology items still in use? The Rolodex, the rotary telephone, and the typewriter used to be ubiquitous in every office across America. But today, unless you are …
Five Ways for Law Firms to Become More Efficient
Modern law firms and legal departments continually look for new ways to increase their efficiency and drive productivity. Nevertheless, less than 30% of law firms have an employee tasked to drive law …