The Four Foundation Stones for New York, New Jersey, and Massachusetts Law Firms

LEAP’s legal software provides New York, New Jersey, and Massachusetts law firms with the key features to excel. After years of visiting law firms, our Executive Chairman Richard Hugo-Hamman has pinpointed the four foundation stones for a practice to reach success. Richard has identified the common issues law firms experience daily and has provided practical solutions to overcome them. Below are the four elements law firms should have in place to gain a competitive advantage:

1. One Version of the Truth

Law firms that have multiple databases often must cope with daily uncertainty and stress. It is risky having your information stored in various systems and spending hours trying to locate that important document. You carry the cost yourself. Most likely, you will charge your client for your inefficacy, or you will charge another client too much to compensate for losses due to poor management. Find out how your law firm can achieve success with one database of information, or as we like to call it one version of the truth.

LESS STRESS

2. Organized Document Management System

Imagine the improvement in your work life if you and everyone who works in your firm knew for certain that every document relating to a matter was safely stored in a chronological, sortable, and searchable sequence to find and use. Think of the benefits if everyone in your firm had identical access to every one of those electronic files always, in and out of the office. If you do not have a solid document management system in place, you may be giving your competitors a head start.

GET ORGANIZED

3. Disciplined Time Recording System

Whether you time record, do fixed fee work, value bill or a combination of these what is important is that you always record. Guess work a day or week or month later will see you sell yourself short. You have professional obligations to do so, but more importantly you owe it to your clients and yourself to make accurate records. Discover how your firm can profit with a disciplined time recording system.

INCREASE YOUR PROFITS

4. Accurate Billing System

Opportunities are often lost if your clients cannot access a simple system to pay you. Law firms should not be wasting time on administrative processes for clients’ payments. Instead, your practice should have a program in place that allows your clients to pay you quickly and with ease. It’s time to get a system that has fewer clicks from the bill to the payment portal, so you can get paid faster.

GET PAID FASTER

If you wish to find out how your law firm can achieve these four foundation stones, you can access Richard’s 4 Foundation Stones of a Law Firm whitepaper.

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Watch Richard’s 4 Foundation Stones of a Law Firm address that he gave at the New York City Bar Association on November 9, 2017.

 

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