Tech-perplexed lawyers: We’ve enjoyed (not) seeing you at the Legal Tech Non Event.
Read on for a rundown of recent news from some of the companies that have joined us.
And as always, visit our Legal Spend Management for Law Firms page for all of your tech-adoption needs.
BigHand:
BigHand recently published a report looking at law firm Pricing Director insights and priorities for 2022 and beyond.
The findings come from it’s recent survey on Legal Pricing and Budgeting trends, which gathered 800 responses from senior legal finance roles from firms of 100+ lawyers in the UK and North America.
Top themes include mandated matter budgeting; profit leakage and embedding a culture of profitability. It also considers the steps law firms should take to achieve alignment across the business on pricing responsibilities.
Key findings from North American Pricing Directors include:
- 98% have introduced more mandated matter budgeting in the last two years
- 42% believe that discounting to collect payment has an effect on their firm’s profitability
- 42% plan on improving visibility of financial data throughout the firm, to reduce profit leakage in the next two years
- 80% plan on introducing a legal pricing solution in the next 24 months
To find out more access the full report here.
Brightflag:
Navigating a legal ops career isn’t easy, but Brightflag is here to help. Introducing Legal Ops 101, your essential destination for on-demand legal operations learning, presented by Brightflag.
In each episode, Brightflag’s Chief Customer Officer Kevin Cohn simplifies complex topics like accruals, financial planning and analysis, SOX compliance, matter management, Outside Counsel guidelines, and more.
Episode 1: Accrual Accounting Learn key terms and activities like; month-end close, true-ups, cutoff dates, accruals, and expense allocations.
Episode 2: FP&A Learn how legal operations can partner with FP&A to achieve greater visibility and predictability around legal spend.
Episode 3: SOX Compliance Get an overview of the role of auditors and the attestations and certifications third parties must maintain to support you in maintaining SOX compliance.
Episode 4: Matter Management Dive into the discipline of managing matters and the types of software legal teams use to do so effectively.
Episode 5: Outside Counsel Guidelines Uncover the areas covered in these guidelines, examples of best practices, and how to develop, monitor, and iterate your guidelines.
Check out every episode of Legal Ops 101 here.
