Foley & Lardner Software Gives Clients Real-Time Look at Costs
Foley & Lardner is among the law firms helping clients control their legal costs through technology.
The law firm has software that allows lawyers sitting at their desks to enter and track their time and costs associated with any particular matter, the Wall Street Journal (sub. req.) reports. Lawyers can also set up e-mail alerts to learn when budgeting targets are met.
Foley clients can access the data and crunch the numbers to determine things such as partner-associate ratios on their matters.
Some law firms use technology to get a better handle on budgets and some are using it to automate tasks, the story says. Other examples in the article:
• Bryan Cave has created a database that allows lawyers to handle radio-spectrum licensing transactions more efficiently. It also has a training service it licenses to clients to help them learn about laws governing international trade agreements.
• Latham & Watkins sends clients a detailed questionnaire to learn what matters can be outsourced.
