Legal Research Services - Way To Law Firm Profitability
5 likes601 views
This document discusses how law firms can improve profitability through legal research services and automation. It notes that manual legal research processes are time-consuming and inefficient. Outsourcing legal research can potentially reduce costs by 50% and save hundreds of billable hours per year that would otherwise be wasted. The document recommends technologies like cloud computing, e-discovery software, and automation to streamline workflows and processes. Outsourcing research to companies that specialize in it can help firms reduce costs through lower headcount and compensation while maintaining productivity and access to expertise.
Legal Research Services - Way To Law Firm Profitability
- 1. W A Y T O L A W F I R M P R O F I T A B I L I T Y L E G A L R E S E A R C H S E R V I C E S
- 2. The best law firms offer excellent legal services, however, that isnt sufficient to ensure their long- term success. In an evolving legal landscape, where there is an increasing pressure for profitability or productivity, attention must be focused on the two core factors that are, growth and sustainability.
- 3. C O S T A S S O C I A T E D W I T H L E G A L R E S E A R C H According to "Thomson", the manual research practices are time-consuming and need hundreds of hours every year, which an outsourcing company could potentially reduce by 50%.
- 4. L E G A L R E S E A R C H C H A L L E N G E S F O R L A W F I R M S Indicated outdated and old-fashioned processes as a challenge. Indicated inefficient processes as a challenge. 41% Indicated manual process as a challenge. 28% 37%
- 5. L E G A L R E S E A R C H D O C U M E N T M A N A G E M E N T W O R K F L O W M A N A G E M E N T W H A T D O M A N U A L P R O C E S S E S C O S T Y O U R L A W F I R M ? 38% 31% 41%
- 6. M A N U A L P R O C E S S R E S E A R C H W A S T I N G 1 0 0 O F B I L L A B L E H O U R S The average hourly rate for a senior lawyer. The time it takes to draft a common legal document. The time saved by using automated solutions. Value of lost billable time per month. $300 86 mins 46 mins $2760
- 7. HOW MUCH TIME COULD AUTOMATION SAVE? 50% Workflow Management Legal Research Document Production
- 8. TOP TECHNOLOGIES ADOPTED BY LAW FIRMS FOR PROFITABILITY
- 13. FIVE TECHNOLOGIES THAT CHANGE YOUR LAW FIRM OPERATIONS AND PROVIDE BETTER PROFITABILITY
- 14. GOING PAPERLESS Electronic files are much easier to search and retrieve.
- 15. USING THE CLOUD Access your research data from anywhere.
- 16. AUTOMATION Reduce repetitive tasks and human error.
- 18. AUTO TRACKING Never forget to record billable time.
- 19. HOW OUTSOURCED LEGAL RESEARCH IS BENEFICIAL FOR LAW FIRM PROFITABILITY?
- 20. R E D U C E D H E A D C O U N T R E D U C E D C O M P E N S A T I O N V I R T U A L O F F I C E M A N A G E M E N T P R O F I T A B I L I T Y
- 21. HOW COGNEESOL CAN HELP LAW FIRMS IN THEIR LEGAL RESEARCH WORK?
- 22. Legal research and writing support beyond your expectations. Get your team to do what is core to your business. Customized solutions to suit your needs. Delivery of projects within the agreed time- frame. Helping you improve efficiency and profitability.
- 24. FOLLOW US ON SOCIAL MEDIA CONTACT US ADDRESS : 30 WALL STREET, 8TH FLOOR, NEW YORK,10005 WEBSITE: WWW.COGNEESOL.COM CONTACT:+1 646 688 2821