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Factors Affecting Law Firm Profitability
Profitability? Isn't that just billing lots of hours?
While the billable hour is still a key performance indicator for most law firms, many firms are starting to look beyond the gross revenue line to insure profitability, and remain competitive in the marketplace.
In addition to considering alternative billing arrangements, firms are focusing on areas such as:
- compensation,
- attorney/staff ratios,
- outsourcing, and
- automation of repetitive and non-billable tasks.
This should be a very interesting discussion, as we will be looking at some of the options for positively impacting the overall cost of law firm's work product.
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Shannon Hampton
Shannon Hampton
(713) 993-9637
(713) 993-9637
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