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How Law Firms Can Prepare for Rising Nation-State Cyber Attacks
Ken Kulawiak & Jim Britt
In March 2021, Microsoft shared detailed information regarding a “state-sponsored threat actor” base(...)
The ABA & The Virtual Law Firm
Rebecca Sattin
{jcomments off}{jcomments on}The American Bar Association published Formal Opinion 498 on March 10, (...)
Pricing Matters: Using AI to Deliver Higher Profit and Better Client Value
Jill Nelson
Recent research has shown that professional services firms face a variety of pressures surrounding p(...)
How Law Firms Can Use Technology to Be More Customer-Centric
Sascha Mehlhase
The COVID-19 pandemic has removed any doubt that for firms to remain competitive in 2021, they must (...)
Home security: managing cyber-risk for long-term remote working
Brian Rogers
When the UK first locked down almost a year ago, even law firms with a deeply rooted culture of pres(...)
Clocktimizer is a leading business intelligence solution that helps law firms understand who does what, when, where and at what costs. Global 100, Am Law 100, and Am Law 200 law firms use Clocktimizer to make data-driven decisions around matter management, budgeting and pricing. The AI-driven pricing & matter management platform enables law firms to streamline operations, easily build and scale pricing and legal project management teams, improve firmwide profitability and offer increased client transparency. Clocktimizer automatically categorizes law firm narratives into activities and phases.
Our customers use Clocktimizer to:
Ebooks
Customer Success stories from law firms
Barnes & Thornburg is an internationally respected US-based law firm. It is well-known for its focus on innovation and service delivery for clients. We spoke with Levi Remley, Director of Pricing & Rick Eads, Pricing & Data Analytics Specialist, about their search for more data-driven pricing solutions for the firm. Read more
Clocktimizer is fortunate to be working with innovative law firms all around the world. As part of our series of Customer Success Stories, we spoke to Ebrahim Kaka (Pricing Specialist) and Nurie Jappie (Legal Project Manager) at leading South African law firm, Webber Wentzel. Headquartered in Johannesburg, South Africa, Webber Wentzel has over 150 years of experience, and a dedicated team known for their commitment to their clients. Read more
We speak to Eugenia Frenzel, Director of Pricing and Practice Management Economics at Perkins Coie, about the ways Clocktimizer has been supporting their goals by providing clear data on fee quotes, budgets and firm-wide profitability. Perkins Coie LLP is an internationally renowned US firm of over 1,100 lawyers, headquartered in Seattle, Washington. Recognized, both among their peers and with awards, as incredibly client-driven. They lead the charge in looking for innovative ways to improve client relationships through transparency. Read more
If you don’t already know him, you really should. Meet Bart Gabler, CIO and Director of Pricing and Legal Project Management of one of the largest law firms in the world: K&L Gates. With over 1800 attorneys managing a wide variety of complex, high value matters, data is of the utmost importance for pricing, budgeting and matter management. K&L Gates has been using Clocktimizer since 2018, championing the wave of firms using data analysis to offer increased client transparency. Read more
Please click on this link to view a 2 minute demo of Clocktimizer.
How to bridge the gap between small and big data
Using data in decision-making is as much about evaluation and sharing, as it is about collection. As anyone who has spent more than five minutes in front of a spreadsheet will tell you, numbers on their own are not exciting. We need graphs, charts and stories about what the data shows to change opinions or inform strategy. At Clocktimizer, the core of what we do is supporting firms in the journey from raw data, to insights and learning. For this very reason, we hosted a webinar on the art of data-driven storytelling. Continue reading
How to Prove Value in the M&A Process Through Pricing and Legal Project Management
Over the past year of lockdown, Clocktimizer has partnered with industry-leading organisations like Elevate and Law Vision to deliver a series of webinars around pricing, LPM, and change management. We’ve covered a whole range of topics, from how to predict the future for resource management, to C-Level insights for profitability. This month, we teamed up with Apperio’s CEO Nicholas D’Adhemar to look at value creation in the M&A process. We were lucky to be joined by Eugenia Frenzel, Director of Pricing and Practice Management at Perkins Coie and Robert Potts, Senior Vice President, Corporate Securities & Finance Counsel and Assistant Secretary at Dell Technologies. Continue reading
Collaboration is key – Why your pricing and legal project management teams should be communicating
We hope that we have reached a stage where most law firms recognise the importance of legal project management and Pricing teams. There are no shortage of financial, client driven and efficiency reasons behind their rise in popularity. When successful they improve everything from a firm’s bottom line, to their client retention rates. However, for most firms, these teams operate independently. Pricing teams develop quotes, rates and budgets. Legal project management teams keep the work to that budget or rate, while also managing scope and operations. Continue reading
How to utilize technology for managing unpredictable matters
We have regularly written about, and heard from experts, on the importance of properly scoping a matter. Well scoped matters form the basis of a thorough fee structure. They also guide legal project managers in ensuring the right tasks are completed to the right standard. In short, scoping reduces uncertainty.
However, it can be impossible to reduce uncertainty entirely. After all, who hasn’t had a matter throw up unexpected challenges along the way? It is estimated that the legal industry loses upwards of 25 billion USD to write-offs each year, indicating that a solution would be of considerable value to the legal industry. What many may be unaware of is that the solution already exists, is easy to implement, and is in regular use by the tech industry. Continue reading
Why data visualisations can reduce billing disputes
Most of us have headed to the supermarket, shoved a load of things in our trolley and then proceeded to the checkout, only to be shocked by the total bill. Often enough, a quick read over the receipt is sufficient to jog our memories. We realise that we did purchase scallops AND that rather fancy bottle of red wine. The evidence is clear and puts an end to our desire to demand the cashier justify this attempt at robbery…
So why do we think it would be any different when it comes to billing for law firms? Clients, like anyone, are much more willing to accept the total if they can see how it was reached. Which means data visualisation. Continue reading
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