There was an interesting question asked on Twitter this morning by Patrick DiDomenico (apparently preparing for an ITLA presentation on the topic.) At first blush, it seemed to be phrased a bit on the negative side, but it really is something that those of us in law firm libraries do need to ask from time
Not too long ago, Jordan Furlong wrote a good post on what law firms sell. Normally I would go all “Dan Aykroyd” on him, but not this time. His post got me thinking about the broader question of what law firms sell in terms of product offerings. And here’s the catch: They don’t know
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#1 and I were chatting (not quite at 3 Beers) and he made a statement that really made me think.
Damn him.
We were talking about whether lawyers will embrace internal messaging apps or any other type of social media apps as KM or just communications tools. I commented that IT
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Ryan McClead’s post on THE Knowledge System has made me think of the way we ask others to work, and how effective, or ineffective that process is. In watching the TEDx video, there was a different part that stood out to me as Michael Idinopulos discussed the Disembodied Work process
You’ve all read/heard my take on aggregators here at 3 Geeks, and how there was a time when having access to information was in and of itself a competitive advantage. Simply knowing what your competitors or market were doing was currency. We all have more access to information today than any of us dreamed was
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I usually read articles written by vendors with a grain of salt, but I think that Thomson Reuter’s Dave Whiteside’s article, “Stop Doing the Legal Limbo” has some good food for thought in it, and it plays into what we discuss here on this blog when it comes to Librarians playing a
Leading up to this final installment in our series – we have defined profitability for firms, described the four profit drivers and looked at how the market is pushing on all of this. In this post we take on how Legal KM can re-focus its efforts to help firms respond to all of this pressure.
The Hill
I had the honor and pleasure of sitting between Mary Abraham and John Gillies at the ARK KM Conference in New York City over the last two days. Mary and John are two of the most prolific and talented live tweeters on the planet. They attend conferences and tweet nearly every word coming from the
Having defined profitability and categorized the four drivers of profit for firms, in Part 4, we now turn to the market’s impact.
Why Does This All Matter?
Over the past five to ten years, there has been a significant shift in the economics of the legal market. Previously law firms were able to raise rates to increase
In Part 2 of this series we explored the impact of Rates and Realization on law firm profits. In Part 3 we look at the other two drivers: Productivity and Leverage.
The Profit Drivers:
Productivity (a.k.a. Utilization)
Productivity is the number of billed hours per timekeeper Most firms will have a benchmark productivity of 1800 or 1900 billable hours per