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Law Firm Operations
Ask the Experts: How Was the Legal Industry Transformed in 2020?
It’s safe to say that 2020 threw us all a curveball. Despite the hardships this year brought, the legal industry rose to the challenge, adapting operations and offering new services to help clients through these unprecedented times. We asked Zola partners to share some of the trends they witnessed in 2020 and how they may affect the transition to cloud-based solutions. In part two of this series, these legal technology experts also share their predictions for what’s to come in 2021.
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Man holding papers while using a calculator at a desk
Law Firm Operations
Year-End Needs a Fresh Start
It may not feel like it, but the end of the year is fast approaching! Between running reports for shareholders, generating 1099s for every vendor, and figuring out employee bonuses, there can be a lot to deal with and you don’t want to be scrambling to do it all at the last minute.
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Employees working together
Accounting & Reporting
Keeping Employees, Business Partners and Clients Honest
As more and more companies are implementing remote and hybrid work models, firms should review the checks and balances established in their internal procedures. Management has an obligation to administer relevant internal policies that will maintain the firm’s financial and professional integrity.
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Three-way trust reconciliation report
Accounting & Reporting
Three-Way Trust Reconciliation Explained
Whether your state calls it an “IOLTA account” or an “ILTA account,” attorneys are responsible for any trust/escrow/IOLTA funds. Most bar associations require a three-way reconciliation of the IOLTA account. Depending on the software you use for managing your firm’s trust funds, this could be as simple as pressing a button and reviewing the report; however, even if your process is that simple, it is important that you understand the “magic” behind the report.
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Reports on tablet
Compensation and Performance Tracking
Assessing Your Firm’s Financial Health: 6 reports you should be running every month
The financial health of a law firm is ascertained by analyzing and evaluating many different pieces of information. Law firms, like many other businesses, sometimes evaluate their success based on the amount of money they have in the bank. Although it is very comforting to carry large bank balances, this represents very little about a…
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Woman working on her laptop while moving to the cloud
Law Firm Operations
When Is the Right Time to Make a Move to the Cloud?
We’re experiencing an unprecedented time in history, one in which most people are no longer working from their regular offices. For this reason, access to data from remote locations has become more important than ever.
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Three coworkers working on the firm's trust accounting
Accounting & Reporting
Trust Accounting Software 101
All law firms are required to maintain accounting records for client funds deposited in trust accounts. Finding the right software solution to assist with the necessary record-keeping for those funds requires a complete understanding of the bar association rules. Trust Accounting Basics Client funds are held by lawyers for many reasons. A lawyer may hold…
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Individuals walking through a conference
Matter Management
Our Vision Has Never Been Clearer
This week, our team is heading to Chicago for ABA TECHSHOW. Every year, we look forward to this event: tech-loving legal professionals, interesting sessions, and countless product announcements, all make for a wonderful three days. This year is even more special, it’s Zola Suite’s fifth anniversary! That’s right, we officially unveiled Zola Suite at TECHSHOW 2015 in a slightly warmer Chicago (the event took place in April that year).
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work from home essentials such as a computer, phone, cup of coffee
Law Firm Operations
Work-From-Home Tech Essentials
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).
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