Whether it is due to client scrutiny, new regulations (e.g., GDPR), or simply that firms are finally addressing their backlog of physical and electronic records, Mattern is seeing an uptick in firms proactively tackle the need for an effective Information Governance Program. However, there are many items that need to be considered to get such a program in place.
by Rob Mattern
The 2018 State of the Legal Market Report notes a slight uptick in expenses overall for firms —shining a light that firms’ expenses are an area of evolving and necessary strategic thinking. What, if anything, are firms missing when it comes to strategically controlling expenses? What could firms be doing to improve recovery of costs?
In this Law Journal Newsletters article, we predict that the greatest obstacle to an improved recovery strategy in 2018 as mostly ‘internal.’
More attorneys every year are writing off billable costs before they reach the invoice—while charges paid by clients have remained stable, year over year—in the high 80% realization range.
Is 40% percent of something better than 0% of nothing? In regard to cost recovery, most people would say “yes” — as long as the cost to recover that 40% is less than the amount recovered.
For copies, prints and scans, if your firm’s recovery percentages are within industry standards/benchmarks, actual costs are in-line and the recovery rates your firm uses are acceptable,