Five global legal trends are testing the limits of even the best new business acceptance models. In this ebook, you’ll explore their effects, learn best practices on how to adapt to them, and evaluate your current processes with an assessment checklist.
The legal industry is well past the days when scrawled notes in a day planner constituted time recording. The business of law has changed, requiring that time entries comply with client requirements and firm objectives. We believe the path forward is a new concept that we call “compliant time”: a way to streamline timekeeping and improve time-capture accuracy while also ensuring adherence to OCGs.This ebook explores the gaps and inefficiencies in the current stateat most law firms and shows how compliant time can help resolve these issues. Insights into how current processes impact and inhibit internal law firm stakeholder objectives reveal why firms simply must find new approaches. Declining realization rates, competitive market forces, and lawyer attraction/retention challenges are all factors that point to a need for change in time and billing technology.