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, …
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Q1 PMI: Large Law Firms Improve Demand & Rates But Struggle with Collected Realization
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 …
- May 1, 2017
- Leonard Lee
Visualized Benchmarking Data for Legal Departments from Thomson Reuters Tracker
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 …
- March 21, 2017
- Leonard Lee
ProView-Handshake Integration Opens Up Information Workflows for Legal Professionals
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 …
- February 21, 2017
- Leonard Lee
Large Law Firm Demand Continues to Drop — Peer Monitor Index
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 …
- February 13, 2017
- Leonard Lee
Challenges Identified by Small Law Firms – Legal Week NY 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 …
- February 1, 2017
- Gretchen DeSutter
Forecast for 2025: Cloud Technologies – LTNY 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 …
- January 31, 2017
- Leonard Lee
Alternative Legal Service Providers Are About Specialized Expertise, Not Just Costs, Says New Study
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 …
- January 31, 2017
- Leonard Lee
Competition, Innovation & the Death of the Billable Hour
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 …
- January 12, 2017
- Leonard Lee
How Do Small & Solo Law Firms View Success? The State of the US Small Law Firms Study
Managing a successful solo or small law practice means overcoming many challenges. These days, running a small practice requires many skills in addition to being a good lawyer: one often also needs to be a project manager, technologist, marketer and small business expert. The State of the US Small Law Firms Study surveyed more …
- January 5, 2017
- Leonard Lee
