Insights

Running a successful law firm means making dozens of financial decisions every week. You’re constantly wondering whether your associates are billing efficiently, if clients will

Running a law firm today means managing far more than just the complexities of the law. As your firm grows past the $2 million revenue

Your firm’s financial foundation depends on having the right legal accounting package in place. Generic accounting software simply won’t cut it when you’re managing trust

Accounting for trust accounts form the foundation of ethical and compliant law firm operations. Every transaction flowing through these accounts carries the weight of client

Law firms that transform raw data into actionable financial insights outperform their peers by significant margins. Yet many managing partners still operate with limited visibility

Behind every thriving practice lies a foundation of solid financial management and analysis. Law firm financial analysis isn’t just about tracking billable hours. It’s about

Artificial Intelligence (AI) is rapidly reshaping industries, and law firms are no exception. The legal profession, traditionally reliant on extensive manual research and documentation, is

Are your associate billing rates helping or hurting your firm’s bottom line? Many law firm owners focus intensely on bringing in new clients while overlooking

Are financial complexities stealing your focus from clients and case wins? Every successful attorney knows that practicing law requires deep legal expertise, but managing a

The role of a CFO for law firms has undergone a dramatic shift. No longer confined to historical financial reporting and compliance, the modern law

In the fiercely competitive legal landscape, where every billable hour counts, optimizing your law firm utilization rate is key to success. This critical metric, which

Let’s face it: running a successful law firm isn’t just about winning cases; it’s also about managing your finances effectively.  And let’s be honest, who

Developing a strategic approach to law firm associate compensation is crucial for attracting and retaining top legal talent. And let’s face it – figuring out

There are 3 key metrics every law firm needs to track to improve profitability: utilization, realization, and collections. Each is paramount to a healthy law

The relationship between administrative work and billable hours directly impacts your law firm’s bottom line. When attorneys spend excessive time on administrative tasks, it creates

As a law firm partner, you’re always looking for ways to improve profitability and build a thriving practice. But with so much time spent serving

Success in the legal field goes beyond courtroom victories. Your firm generates valuable insights through every billable hour, client interaction, and financial transaction. Yet most

The numbers tell a compelling story. According to Thomson Reuters’ 2024 State of the Legal Market Report, law firms that modernized their financial operations saw

Law firm profitability metrics goes beyond basic revenue tracking. While 92% of law firms track some financial metrics, only 33% measure the key indicators that

Picture this: A prime office space opens up in your target location, or a highly sought-after lateral hire becomes available. Your law firm has the

Picture this: You’re reviewing your law firm’s monthly reports. Revenue looks good – up 15% from last year. But something doesn’t add up. Despite higher

When looking at average law firm revenue across the industry, mid-sized firms show significant variation based on location and practice focus. Understanding revenue benchmarks and

With all the advancements in technology, law firms are still struggling to integrate tools that can fully transform their operations. From time tracking to document