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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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employee videochatting with her team
Law Firm Operations
Effective Collaboration in Today’s Law Practice
In the new normal since the Coronavirus, it is expected that 80% of lawyers and professionals will do some work via their smartphones. This statistic is indicative of a trend that we expect to continue for many years to come — the legal industry, like so many others, must embrace a remote workforce.
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Migrating data into a law practice management platform
Matter Management
Migrating to a New LPM: How Much Data Should You Move?
Congratulations! Your firm has decided to move to a new practice management, billing or accounting platform. You have gone through the analysis, made a selection, and now comes the big question – What data should be brought over to the new application?
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Lawyer recording her billable hours for the month
Timekeeping & Billing
Productivity and Profitability: Thinking Beyond the Billable Hour
How do you measure productivity and predict profitability? With time-based billing, the simplest way is billable hours. How many hours can (and should) timekeepers work in a period of time and how many of the worked hours are billable? If we assume only two weeks of vacation per year and a forty-hour workweek, the formula will look something like this...
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Attorney on his mobile phone wearing his Apple Watch
Matter Management
Never Miss a Beat With Zola Suite’s Dedicated Apps
As a complete cloud-based solution, Zola Suite allows you to access your firm’s data from any device with internet access whether you’re in the office, courtroom or at home. Using Zola Suite’s native iOS and Android apps, you can keep track of upcoming meetings and appointments, retrieve contact information and initiate calls, add or edit tasks, and access matter-related documents all on the go. You can even track time while you’re out of the office so you don’t miss a beat.
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gears
Matter Management
Transitioning to a New LPM? Don’t Get Stuck in the Past
Change is never easy, but often necessary to stay relevant in today’s fast-paced environment. Firms should regularly review how things are done and look for ways to improve. An especially good time to do this is when implementing new law practice management (LPM) software. Firms that cling to outdated or inefficient workflows often miss out on many benefits that can save time and money.
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Person writing out a check
Timekeeping & Billing
Minimizing Write-Offs and Maximizing Profits
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.
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LEDES Billing
Timekeeping & Billing
LEDES Billing Explained
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.
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Employees in a meeting
Law Firm Operations
Are You Prepared for a Disaster?
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.
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