5 | Legal Trends for Mid-Sized Law Firms
Introduction
Among law rms of all sizes, mid-sized rms have
traditionally enjoyed an advantageous position at the
intersection of size and diversity of work. As these
rms grow and expand, they have enjoyed the benet
of increased resources, allowing them to take on more
work, expand their overhead, and service clients
across a variety of practice areas.
And, with rapid advancements in new systems and technologies over
the past year, the legal profession has seen tremendous growth. Indeed,
lawyers in mid-sized rms are billing more hours and collecting more
revenue than ever before, while the availability of more tools and
opportunities for innovation create endless possibilities for modern
law rms.
But are mid-sized rms taking advantage of these opportunities? While
mid-sized rms are seeing success in terms of billable hours and collected
revenue, their overall performance in billing and collections suggests
that many rms are failing to optimize their workows.
To remain competitive, mid-sized firms will need
to overcome the challenges associated with
complex and diverse organizational structures.
