Business & Finance

Ways to Relieve The Burden on Struggling Small Legal Businesses

Transform your business

Law firms are frequently burdened with the sheer amount of management, regulatory, administrative and financial tasks that are required to keep on track and ensure compliance and efficiency. This is a daunting prospect for many firms and often serves to divert legal professionals from the vitally important parts of the business, namely meeting the needs of clients and running a successful and profitable concern. However, there are ways that those running law firms can relinquish some of these strains by the modern method of managed services which can allow a business to go from strength to strength.

Innovative solutions

With the recent rise in managed service providers such as Excello Libertas this can be a welcome break to many small legal practises which are consumed by the many requirements needed to stay compliant, utilising such services can revolutionise the working model, and this can be instrumental in building an ever more successful business and offers a real competitive advantage.

Managed services provide a platform to support law firms with a full suite of systems including HR, IT, regulatory, financial, PI Insurance, paralegal and secretarial services. In addition, there is access to office facilities for meetings and networking, and marketing support which builds on a firm’s specific brand and reputation. The new managed services model is founded on solid principles of excellence, integrity, and collaboration and is backed up by extensive expertise in the needs of the legal profession.

Benefits of using managed services

By using the progressive model of back-office support offered by managed services, law firms can take advantage of a range of benefits that include:

  • Compliance: as the need for compliance grows ever more comprehensive the use of managed services can ensure relief from the burden of compliance management.
  • Professional Indemnity Insurance: law firms can access economical and tailored solutions to meet their needs.
  • Maximised earnings: this service model allows you to retain full control of every aspect of your business whilst allowing you to improve profitability.
  • Brand name: your brand will be empowered to grow and develop using the unique support offered by managed services.
  • Collaboration opportunities: becoming part of a managed services platform allows law firms to become part of a growing professional collaborative network which can be beneficial on many levels.
  • Recruitment: law firms can avail themselves of expertise in recruitment to ensure they attract and retain the best candidates.
  • Technology: managed services platform offer access to state of the art technology including cloud-based systems and the best technologies on the market.
  • PR and Marketing: this can include PR plans, social media guidelines, and website templates as well as many other resources.
  • Other support: a wide range of support is available in transition planning and induction as well as ongoing support services.

Remodel your law firm

Those adopting managed services are part of a radical move to modernize the way that law firms operate and make them more efficient, effective and profitable. By re-thinking the traditional law firm ethos, those who have developed managed services have responded to the demand for a better and leaner way of operating.

Many businesses are finding that by releasing some of the abundances of administrative burdens to experts in legal practice, they are able to find time to really grow and develop aspects of the business that may have been impossible due to administrative and compliance constraints.

As the legal profession continues to adapt to top of the range technology, new operational infrastructures, and more streamlined and effective working models, the success of a business may come to depend on this hybrid style of outsourcing legal managed services to experienced professionals.

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