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...

Litera is excited to be featured in ILTA’s 2024 Tech Survey, highlighting the continued impact of our tools within the legal industry. For years, our solutions have consistently appeared in the survey results, demonstrating the significant benefits they provide to law firms. With a vast portfolio that is well-regarded in both practice and business aspects of law, Litera is...

Law firms today are sitting on a wealth of untapped data: time entry narratives. These brief notes, often added to time and billing systems, detail the work performed, providing essential context about the stage of the legal matter, client interactions, and much more. However, this data is often underutilized because it is unstructured and difficult to analyze manually...

Generative AI (GenAI) is an emerging technology that can enhance legal professionals’ productivity, improve collaboration, and shape the future of legal work. In fact, our recent survey highlights a growing trend toward the adoption of GenAI technologies, with 42% of law firms already leveraging these tools and an additional 34% planning to integrate them within the next...