Wednesday 6th Sep 2017
Some law firms have been able to notably outperform their peers even though the overall large law firm market is experiencing flat to little growth. A new report from the Thomson Reuters Legal Executive Institute suggests that investments in areas such as business development, marketing and technology may be a key factor defining the higher-performing ...
Wednesday 21st Jun 2017
As many of you are aware, the Corporate Legal Operations Consortium (CLOC) has identified 12 Core Competencies for the Legal Operations Function. What you may not know is that HBR has further distilled these Core Competencies into three groups by level of organizational maturity: Foundational, Advanced, and Mature, and performed survey work across the Legal Operations ...
Tuesday 20th Jun 2017
At VANTAGE 2017 Orlando, Cory Branden with Peer Monitor presented about trends and the true cost of lost productivity: Productivity. It’s a subject that we seem to be talking about all the time over the last few years. Firms want to find a way to utilize the lever and spur greater profitability, while corporate legal departments ...
Tuesday 6th Jun 2017
Don’t guess how legal department operations are evolving—look at the data. According to the new Thomson Reuters Legal Tracker LDO Index, corporate legal departments are managing a higher volume than ever before, focusing on cost control, and bringing in more legal operations staff to run leaner and smarter. Insights from the new semi-annual LDO Index ...
Friday 5th May 2017
Elite 3E and Workspace users can now use the convenience of Amazon Alexa to enter and track billable hours. Thomson Reuters Workspace Assistant, a new way for lawyers to access and perform time management functions via Workspace using Amazon® Echo® or other Alexa®-enabled devices. Lawyers and timekeepers can input billable hours to a specific client matter, ...
Monday 1st May 2017
Two steps forward, one step back for large law firms in the first quarter. Demand for legal services rose, as did rates, helping boost the Thomson Reuters Peer Monitor Index to its highest mark in almost two years. Demand rose 0.3%, and worked rates were up 3.0%, one of the strongest quarterly rate growth figures in more than ...
Tuesday 21st Mar 2017
Knowing how your legal department and outside counsel are performing compared with the competition can be invaluable information. Corporate legal departments can more easily compare their performance to industry benchmarks and streamline frequently-used workflows with new automation tools in the latest update of Thomson Reuters Legal Tracker™ (formerly Serengeti Tracker™), the market-leading e-billing and matter ...
Tuesday 21st Feb 2017
Thomson Reuters ProView already provides the ultimate eBook user experience for professionals. ProView users can now integrate their ProView libraries with their information workflows through Handshake Software’s Portals and Universal Search. Handshake is the leading provider of SharePoint®-based products and services to the legal sector. Attorneys and law librarians will now have integrated access to their ...
Monday 13th Feb 2017
Demand for large law firm services fell 1.4% in the fourth quarter – the third consecutive quarterly decline and the biggest drop since Q1 2013. For the full year, demand fell 0.6% – the first annual decline in demand since 2013. Those are among the key findings from the Thomson Reuters Peer Monitor Economic Index (PMI) report for ...
Wednesday 1st Feb 2017
The new Legal Small Firm track of LegalWeek New York featured a panel discussion: Challenges Identified by Small Law Firms: How They Threaten Your Success. Mary Juetten, CEO, Traklight & Co-Founder, Evolve Law; Bob Ambrogi, practicing solo attorney, ABA Journal columnist and creator of the LawSites blog; and Bill Josten, Senior Legal Industry Analyst, Thomson Reuters Legal ...
Tuesday 31st Jan 2017
Cloud technology is changing so quickly that it’s difficult to keep up even from day to day sometimes. What happens when technologists start to visualize where Cloud technologies could take the practice of law in five or even more years down the road? Eric Sugden, CTO of Thomson Reuters Elite and Thomson Reuters Legal chief ...
Tuesday 31st Jan 2017
The emergence of alternative legal service providers (ALSPs) is having a notable – and growing – impact on the legal market. The implications for law firms and corporations, and where the ALSP market is heading, was the subject of a comprehensive new study of ALSPs that was discussed at a panel today at Legal Tech ...
Thursday 12th Jan 2017
The billable hour model of decades past where firms experienced little pushback on rates or number of hours spent is effectively dead, and the traditional law firm franchise is increasingly at risk. Law firms must either find ways to effectively adapt to these and other evolving competitive conditions or risk further erosion of their market ...
