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An AI strategy for future proofing your practice
Trusted by some of the world’s largest brands:
Legal Practice Management Services
LPMS – is LSG’s suite of tools, products and solutions to help target and address profitability issues at your firm.
From a consultative perspective, our approach is to map out where common problems lie and consider strategies and tactics that will drive best practice, especially in time recording, billing and accounts receivables.
LSG’s philosophy is continual improvement and its main drivers are aimed at improving law firm profitability. It’s all about the bottom line.
Through a process of visibility, control, education, driving positive change and accountability, we can provide tools and solutions that will remove inefficiencies and poor habits at the HQ, regional office, practice area and individual attorney/timekeeper level.
Solutions are broken down into three primary areas or buckets:
Consulting
Services
TechnologyConsulting
- Education on the importance of accurate and timely record keeping
- Promote positive behavioral change towards consistency, across all attorneys/timekeepers through lite competition
- Share how each and every attorney/timekeeper contributes to the profitability of the practice
- The critical importance of the Finance and A/R function to the “financial health” of the firm
- Credit, pro-bono and client credits – how this may affect your annual revenues and profitability
- Enabling attorneys and timekeepers to be “self-governing” versus the “Big Brother” approach
- Skin in the game – providing a bonus pool to non-partners that will promote profitability
Services
Focusing primarily on time recording, billing and receivables, LSG can provide (inter alia):
Technology
Lack of accountability, driven by low levels of control due to poor visibility of attorney/timekeeper record keeping, time recording activity, along with a lack of timely submission of time records to finance/A/R and the resultant drop in A/R from fee-paying clients means that profitability is put at risk. The time is now to mitigate that risk.
Positive change needs to start at the beginning of the process, carry on through the middle and follow up towards the back end, or A/R.
Don’t wait until December 15th (Q4 for the partnership end of year accounting period) to realize that the firm will not make its numbers. The opportunity to inject solutions was lost nine months ago.
LSG is focused on law firm profitability and how best to achieve it.
Client-side solutions
Mercury ELM
Mercury ELM is only one of a suite of tools that LSG has to offer the fee paying client.
Legal bill review
Audit
Data analytics
Vendor and Panel management
Rates
Key practice areas
Reporting and scorecards
Engagement and instruction selection
Satisfied clients across the globe
LSG is easy to navigate even if you are new to the system. Client relations staff is awesome as they are responsive and timely.
Gina Lauria
Rockville Risk Management
We looked around quite a bit when searching for a good fit [...] we decided on LSG and are extremely pleased with our decision.
Joe Tixier
Arthur J. Gallagher & Co
[...] we were able to take the program from the planning phase to fully functional in less than two weeks due to their efficient on-boarding.
Justin Barth
NYCM Insurance
[LSG’s] system enables us to get a much clearer understanding down to transaction-level detail of our spend across the entire business.
Mark Cloutier
Brit Insurance
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