I spoke with Andre Wouansi, the founder and managing partner of Accurate Legal Billing, a time entry platform that uses artificial intelligence to help law firms align their invoices with e-billing guidelines. We discussed common mistakes lawyers make when entering their time, how to use artificial intelligence to analyze a law firm’s invoices, and the challenges associated with using AI to interpret unique time entries.
I spoke with Olivier Chaduteau, the founder and managing partner of Day One, a consulting firm focused on legal and compliance. We discussed the impact of digital innovation on the legal profession, how lawyers are adapting to a changing market, and the pandemic’s effect on how lawyers manage their legal and compliance matters.
I spoke with Rick Weber, the co-founder and managing partner of Arbor Ridge Partners, a Legal Technology and Legal Services M&A advisory firm. We discussed the current state of M&A for legal technology and legal services companies, the difference between private equity and venture capital in the context of M&A, and where M&A in legal is headed.
I spoke with Alberto Estrella and Mayra Artiles, the managing partner and associate, respectively, at Estrella LLC, a full-service law firm in San Juan, Puerto Rico. We discussed the firm’s new business immigration practice, how it leverages technology to enhance client service, the unique legal issues that companies face when doing business in Puerto Rico, and how the overall economy is influencing the evolution of legal services.
I spoke with Kevin Colangelo, the Vice President and Head of Strategic Accounts for Bloomberg BNA, a legal technology and content provider.
We discussed how law firms are changing, what firm leaders need do to stay one step ahead of their peers, key technology that is sparking the industry’s transformation, and where the field is headed, among other topics. Colangelo recommends that law firm leaders think differently, focus on investing for the long term, and leverage technology to filter the signal from the noise.
Listen to our interview below:
I spoke with Peter Altieri, a partner with Epstein Becker & Green, in the Litigation and Employment, Labor & Workforce Management practices. He is the Managing Shareholder of the firm’s New York office and serves as chairman of the International Lawyers Network.
We discussed the mission of the International Lawyers Network, how it selects member firms for inclusion, the benefits of associating with such an organization, and the factors law firm leaders should consider when evaluating a prospective network, among other topics.
Listen to our interview below:
Vincent Bell, the president of Upstream Consulting Group, recently shared Six New Year’s Resolutions for Your Law Firm, which he suggests will help your firm improve its profitability.
“They contain specific and easily applied business suggestions,” he says. “Three of them are micro resolutions relating to specific functions within a law firm that should be examined and improved. The other three are macro resolutions that transcend specific internal functions and relate more to the philosophical focus and overall direction of the firm,” he adds.
The resolutions are:
1) Seriously Examine Your Cost Structure
2) Bill Monthly and Collect Monthly
3) Stop Discounting
4) Write and Follow a Realistic Strategic Plan
5) Become an Entrepreneurial Law Firm
6) Question Your Traditions
Read the entire article here.
I had the good fortune of interviewing Tony Williams, the founder of Jomati Consultants and the former managing partner for Clifford Chance, for Reinventing Professional Services and during my visit to London late last year. We discussed trends in the legal profession for 2012 and Williams noted that “Law firms are going through a massive transformation … and it is really just beginning.” He highlighted that law firms are coming to terms with a more sophisticated buyer, globalization, and relatively flat profitability. These factors, among others, are causing firms to think about how they operate, the clients they target, and the markets in which they provide services. In 2012, Jomati will be releasing a report addressing the shape of the new law firm and offering ideas for increasing profitability and competing in new markets, including those throughout Asia and Africa. Watch our interview below: