Law Firm Operations

Law firms cannot escape uncollectible fees and unrecoverable costs. Fees and disbursements that are not paid by a client have a direct effect on the firm’s profitability. Most service industries report income based on the cash method of accounting. As a result, income is recorded only when received. The only bad debt expenses will be the result of client costs that cannot be recovered. Any fees that are billed but not paid by the client represent lost income.

You’ve just heard from a client that they want you to start billing them electronically — and they don’t mean by email. They mention LEDES. What is LEDES? What do you do next? “LEDES” stands for Legal Electronic Data Exchange Standard. LEDES billing is simply submitting your bill in a special format. The electronic bill is uploaded to a service, or clearinghouse, that reviews the bill to make sure it complies with certain rules and that all the calculations are correct. If the bill is approved, you will get paid. Let’s take a step-by-step look at the LEDES billing process.

Our first discussion about disasters covered types of disasters and some basics needed to properly address a disruption in normal activities, including how to build a robust team. We subsequently outlined how to make use of staging areas, alternative facilities, and working from home in the second article.

Our first discussion about disasters addressed several types of disasters and some basics needed to properly address disruption in normal activities. Please reference part one to learn more about disaster types and how to build a robust team.

Over the past week, we’ve spoken with dozens of firms who are reliant on server-based practice management solutions. Many are grappling with how to best navigate these uncertain times. How can they serve their clients while keeping employees safe when they are tethered to legacy systems for matter-related data? Remote work just isn’t an option. We know this pandemic will last at least a few weeks, but it may ultimately span months. Without the option for remote work, we know firms, and clients, will suffer tremendous losses. We want to help.

Disasters can take many forms for an organization. They might include a compromised computer, a power outage, severe weather, an active shooter situation, a bombing, or a virus. Some of these situations are not as severe as others, but all need a plan to protect employees, clients, business partners, data, and files.

The average person spends 28% of the workweek reading and responding to email. With so much of one’s day spent on this task, it should come as no surprise that numerous studies have shown that email can lead to anxiety. One of the major causes of this stress: it feels like it’s never done.

During our recent ALA webcast, The Flexible Law Firm: Is your practice ready to embrace a work from home program?, there were dozens of questions around technology solutions required for successful implementation of a work-from-home program. You need the right devices, the right processes and the right software that enforce accountability, keep your team connected and make your data accessible (while keeping it secure).

A work-from-home policy presents many benefits and drawbacks for a modern law firm. With a virtual law office, your firm will save on monthly rent costs and is likely to experience less employee turnover. However, remotely participating in meetings with clients and employees can be challenging when employees must rely on technology alone for critical communication. Luckily, there are affordable technologies available that will alleviate some of these challenges.