How Law Firms Are Using Analytics To Reduce Write-Offs

Law360, New York (November 29, 2016, 5:19 PM EST) -- With the legal client landscape continuing to measure law firms' success on the value of delivery of services, reducing write-offs is an ongoing initiative for firms. A firm’s efficiency is how write-offs are determined, making operational enhancements a core focus for law firms. Firms are already seeing the consequences from not adjusting to their new client market. Thomson Reuters’ Q1 2016 Peer Monitor Index from May of this year reported on the concerning drop of realization rates, which is at an all-time low of 82 percent.

It’s becoming an absolute necessity that law firms implement strategies to improve efficiency, staffing and...

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