Coming in either under or over budget not only makes individual employees look bad, but gross variants could also result in the entire legal department’s budget being cut the following year.
Less resources at their disposal obviously has direct implications on a legal department’s outside counsel spend. Read More
Frequently, clients request a law firm to prepare budget and accrual reports for them. Describing the process as a “massive nuisance”, one financial director at a law firm told us, “Majority of the time - we’re not even clear what information they need from us or what they’re using it for.”
This disconnect between firm and client stems from a fundamental difference in their individual methods of accounting, and yes, it can be extremely frustrating.
Without requiring a degree in finance or accounting, here is a layout of all the issues, in language that anyone can understand. Read More
Consumers want law firms to adopt technology that will given them better client experiences.
Lawyers (and law firms) want technology that will make them more efficient so that they can make more money.
Why can’t they have both? Better client experiences and improvements to lawyer efficiency don’t have to be two separate things. Read More
If you listen to only one segment of this series - make it this one.
Two issues about shadow billing immediately came to mind... Read More
We recently caught up with Viewabill co-founder and serial entrepreneur David Schottenstein for a quick question on the topic of motivation.
Q. David, what is your primary motivation for being successful in business?
I'll be honest. My main motivation is to make money. But before you write me off as "money-hungry", hear me out. Read More
As the conversation continued...Ken Grady argued that the billable hour creates a false sense of objectivity and is based on a poor self-reporting system.
From his experience running a manufacturing facility where he was first introduced to the concept of "lean", Ken took into consideration the hours it took to produce something (as recorded by an objective, 3rd party observer), but he would also factor in all the other inputs into the process. Then, based on the total input that went into the process, the company would asses what the market would pay to achieve that product, and the difference was their profit. If they wanted more profit, their only choice was to reduce some aspect of the input cost. Read More
Earlier this year, we had the privilege of having legal evangelist Kenneth Grady moderate the session on metrics for our "Inside/Outside +Together" webinar, so we were already big fans.
Yesterday, I had the pleasure of moderating a discussion with Ken and our co-founder and CEO, Robbie Friedman.
The topic was "shadow billing", the practice of tracking hours of a legal matter as if it were being billed on an hourly basis, despite the fact that an alternative fee arrangement has already been negotiated. Read More
Last week, we received some interesting (solicited) feedback from one of our law firm subscribers. They wrote:
“The real fact of the matter is Viewabill is a client tool that the firm pays for but Viewabill does not give us any metrics to even know that our clients are even using it. The tool is a black box that we have very little visibility into, so it is really hard to have any feedback other than that. It would be very nice to know who is accessing our data and when.”
This is how we responded. Read More
Yesterday, an attorney friend who received the above email about our June promotion – connect with any 2 new clients to share matters and receive $500 off your Viewabill subscription – had a few interesting questions for us.
Paraphrasing, the conversation went something like this: Read More