Legal professionals face a daily challenge of switching between tools over 1,200 times, leading to confusion, frustration, and low adoption rates. With 39% of lawyers citing a lack of time to learn new technologies and 53% feeling they lack the necessary tech skills, firms are left with underutilized software investments and minimal ROI. The situation is further...

As the end of the year approaches, law firms are working hard to ensure their financials are in the best possible shape before entering a new year. Effective year-end preparation involves several key tasks: managing accounts receivable, analyzing effective rates, reviewing write-offs, and optimizing firm management metrics. Here’s how Foundation Finance (formerly BigSquare...

Running a law firm involves more than just delivering exceptional legal services. Beneath the surface, hidden costs often go unnoticed but can significantly impact profitability and operational efficiency. These challenges, if left unchecked, can erode client relationships and stifle growth. Let’s explore some of these hidden costs and how law firms can address them...

M&A activity continues to slow down in 2024, marking a challenging landscape for investors and corporates alike. The latest Litera Global M&A Activity Report reveals a third consecutive quarter of declining deal counts. Yet value generation remains strong, with $2.2 trillion generated across 24,784 deals year-to-date (YTD). Despite a drop in deal volume, average M&A sizes...

Generative AI (GenAI) is rapidly reshaping the legal industry, enabling firms to streamline operations, cut costs, and elevate the quality of legal services. According to our recent survey, this technology is gaining significant traction, with 42% of law firms already utilizing GenAI tools and another 34% planning to adopt them within the next year. Document creation and...

In the modern legal world, expertise and efficiency are what set law firms apart. The ability to harness and use internal knowledge, provide valuable insights, and deliver top-tier legal services can give a firm a competitive edge. This is where knowledge management comes into play. What began as a simple means of organizing lawyer experiences and documents has evolved...

Litera is thrilled to once again be featured in ILTA's 2024 Technology Survey, marking another year of recognition for our tools that empower law firms worldwide. Litera's solutions consistently appear in the survey’s results, reflecting the value they bring to legal professionals in both the practice and business of law. With a robust portfolio that supports an enterprise...