There is often a great deal of confusion regarding document storage and document management systems. As a result, companies often wrestle with the following questions: Which solution is the simplest to manage, the most cost-effective, and the best overall?

No business owner wants to deal with a financial emergency due to lack of planning. In order to monitor how a firm is doing financially year to year, every law firm should maintain an internal budget/forecast. A budget/forecast report provides the owner a monthly snapshot of how the firm is doing at least yearly with monthly updates. Firms usually budget for one year. A forecast is the budget and actuals. So, in April, a firm will display three months of actual data and nine months of budgeted data. A forecast is a continually changing report, and a budget is prepared annually. Since each year is different and may have different expenses, it is unrealistic to use the same forecast year after year. A new annual budget of the firm’s expenses and revenue should be prepared at the end of each year, a month or so before the arrival of the new fiscal year. Any owner of a firm should welcome this proven method of eliminating unwanted surprises that can be avoided by merely properly recording expenses and revenue.

Although many people think that customer management relationship systems (CRMs) are relatively new in existence, the practice of keeping customer records has existed for centuries. Merchants, even those selling their wares in ancient times, understand that it’s much easier to sell your goods to a current or past customer than to try to cultivate new business. Modern CRMs are simply digital, highly sophisticated versions of customer records traditionally kept on paper. While most businesses of any size in any industry can benefit from the use of CRMs, some cannot run their organizations efficiently without them. In recent years, niche-specific CRMs have been designed specifically for certain types of businesses, including law firms.

In today’s workplace, 65% of employees are looking for another job. To compete for the best employees, employers must remain current, providing a quality, forward-thinking work environment which includes hybrid work options. Prior to the pandemic, law firms allowed only exempt employees (lawyers and professionals) to work remotely, and then only occasionally. Today, most employee positions are viewed as suitable for a remote work structure. With this shift in the workplace, what are some of the issues regarding a hybrid work environment and how best should they be addressed?

There are many instances when a lawyer can run into a conflict of interest with a prospective new client, and some may not be easily identified before the retainer agreement is signed. Here are a few potential conflicts of interest that can result in serious ethical issues for attorneys...

By definition, an exit interview is a conversation between an employer and an outgoing employee. The objective is to determine how the firm can improve on its processes and culture. These interviews usually consist of an honest and forthcoming conversation as an outgoing employee often feels less reluctant to give an honest evaluation because he or she is no longer employed by the company. Exit interviews can provide vital information which may help a law firm become more inclusive and responsive to all its current employees, making them more efficient and profitable.