Profitability Gaps and Your Firm
Running an Efficient Law Firm with Legal Case Software
The right legal case software transforms firms and allows attorneys to spend more time practicing law and generating significantly more revenue. To run your law firm at its best, there are 5 profitability gaps that need to be assessed and closed to make the biggest impact. Let’s take a look at each of these gaps and discover the best ways to address them so you can run your law firm from the fast lane.
Profitability Gap #1: Workload Distribution
The first area to address in tackling the efficiency issue is ensuring that employees and staff have a balanced and appropriate workload. Running reports on completed and pending work by employee or department can highlight efficiency bottlenecks that are detracting from your billable or productivity hours. Running these kinds of reports regularly can be very enlightening. They’ll give you insight into how much bandwidth is spent on administrative tasks, business development, marketing efforts and attempts at communication.
How Legal Case Software Can Help:
The GrowPath application makes it easy to retrieve up-to-date reports and see where everyone’s focus is being directed. These reports allow you to uncover inefficiencies, make improvements on workflows and prevent employee burnout.
For example, one unique feature GrowPath has is the Gravity Report. This report allows you to view and compare caseloads across employees. You can use these reports to instantly see who is overworked and who doesn’t have enough on their plate, and adjust accordingly.
Profitability Gap #2: Properly Managing Your To-Do List
Diversions in the workplace today are ubiquitous endless emails, texts and social media notifications vying for your attention. All of these distractions make it challenging to keep your priorities front and center.
How Legal Case Software Can Help:
GrowPath pulls from various sources of intel to intelligently update your tasks and reminders. Your to do list is always current and automatically updated with the items needing the most attention. These tasks update in real-time based on calendar syncing and information gleaned from relevant databases (for example, statute of limitations databases). To illustrate how this works:
“GrowPath is so intelligent that it ties certain functions to certain events. For example, if I return from mediation and we were not able to settle, GrowPath automatically transitions the case to the trial prep status and lists the appropriate tasks associated with the next steps.” (Mike J., Personal Injury Attorney)
This means that you no longer need to spend non-billable administrative time rearranging and updating your to do list. GrowPath case management updates your tasks intelligently, automatically and in real-time. How’s that for closing a profitability gap?
Profitability Gap #3: Responsiveness
One of the biggest indicators of attorney efficiency/inefficiency is the time it takes to respond. That includes responding to:
- Clients
- Prospects
- Opposing Counsel
- Co-workers’ requests
- And countless other demands
Most attorneys intend to respond in an appropriate time frame, but often find themselves overwhelmed by details and diversions. It is easy to get lost in a sea of communication. After all, communication comes at you from so many different channels. Channels include website live chats, contact forms and other similar sources on top of voicemails, emails and text messages.
How Legal Case Software Helps:
Having all communication pulled into one legal case software, where it can be securely stored and documented, helps keep each firm member organized. You can easily search and retrieve communications and receive reminders of lagging conversations or non-responses. Another time-saving feature is GrowPath’s single click functionality for calling, texting or emailing within the platform. All those precious minutes wasted looking up contact information and taking the time to dial can be reallocated to other tasks. Another simple yet impressive way to close a profitability gap.
Profitability Gap #4: Document Management
Today, people often use templates when managing documents. No attorney should be recreating document after document from scratch at this point. However, there are still ways to improve upon the use of templates. These ways streamline the process and help mitigate unnecessary mistakes caused by human error.
How Legal Case Software Helps:
GrowPath’s cloud-based document management and document creation features eliminate duplicate data entry and provide secure remote access. This means that you can review and edit docs on the go. Everything about GrowPath’s document management solution was created with law firm efficiency and security in mind.
Profitability Gap #5: Reports
Real-time reporting closes a huge profitability gap by providing automatically updated insights into case data, firm metrics and marketing analytics. You no longer need to spend non-billable administrative time creating boring spreadsheets that quickly become obsolete. Simply consult your visually appealing, up-to-date dashboard and have access to answers at your fingertips. Such an expedited workflow allows you to make quick, data-driven decisions.
How Legal Case Software Helps
GrowPath’s comprehensive legal case software provides streamlined intake, efficient document management and real-time reporting. Combining all of these state-of-the-art features into one solution addresses the profitability gaps that many firms fail to properly correct. Learn more in our guide, How to Choose the Best Legal Case Management Software or Book a Demo now!