Posted by: johnocunningham | December 8, 2011

FirmFuture: Products and Services for Practice Management

While browsing the booths at this year’s FirmFuture conference, I paused to check out the LexisNexis practice management software being offered through The Profit Point Group, Inc., a New England consulting service that helps lawyers and other professional service providers to find, select and implement efficiency solutions.

These solutions received unsolicited positive feedback from two users in a session on technology trends that I hosted, and the users noted that the solutions were user friendly and helped busy lawyers to free up time and increase profitability by automating the business aspects of practice.

Based on the comments, I decided to check out the solutions, which are marketed under the Time Matters and PCLaw trademarks. Here are some of the neat things that these programs are designed to do:

  1. Provide help with “relationship matters” by tracking and automatically capturing informatino about contacts related to cases, clients and prospects.
  2. Provide help with “organization matters” by using search tools to set and retrieve task assignments, conflict of interest data, and case information.
  3. Provide help with “workflow matters”  by automating the processes of docketing, calendaring and scheduling.
  4. Provide help with “document matters” by automating storage and retrieval while associating critical documents, briefs, memos and e-mails together for quick and easy future reference.
  5. Provide help with case and matter management (using PCLaw).
  6. Provide help with billings and collections (using PCLaw) by tracking hours, expenses, and collections with the flexibility to accomodate alternative billing methods for specific matters or clients.
  7. Provide help with accounting (using PCLaw) by automating the processes of check writing, client trust fund management, account reconciliation, account ledger management and payroll management.

More to come on this blog about the “buzz” on other products and services featured or discussed by participants at FirmFuture.

Note: I did not test this software myself, but offer it up as an example of just one tool that small firm lawyers might consider adopting to level the playing field with larger competitors who have more infrastructure for billing, practice management, etc.

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