Issue link: https://epubs.iltanet.org/i/7694
www.iltanet.org The Business of Law 5 While it's hard to say anything nice about the current economy, it has brought to light the necessity of sound business practices to survive and prosper. And any area of a firm can be improved by flexing its business-savvy muscles. Our authors provide a broad spectrum of experience, knowledge and opinions that they're sharing in this white paper. We run the gamut, starting with improved new business intake and conflict checks; we explore the art of good decision making and Lean Six Sigma concepts; we look at cost recovery vis-à-vis alternative fee arrangements; and more. Many thanks to our writers for sharing their smarts — they're our Better Business Bureau! Randi Mayes Editor-In-Chief 36 gooD reCorDS ManageMenT equaLS gooD BuSineSS by Ganesh Vednere Establishing a records management program that is focused on the proper storage and retention of records helps firms ensure compliance with applicable record retention laws/regulations and that they are meeting client expectations. Effective records management simply makes good business, operational and financial sense. 38 are aLTernaTive feeS The DeaTh kneLL for CoST reCovery? by John Gilbert, nQueue Billback While it may seem that cost recovery and fixed fees are diametrically opposed –– "We don't need to keep track of copies and faxes since we are now billing for them as part of a fixed fee" –– in fact, keeping careful track of these types of expenses is more necessary than ever. Find out how you can do the math! 42 SuCCeSSfuL BuSineSSeS are BuiLT on gooD DeCiSionS by Ayelette Robinson, Littler Mendelson P.C. Good decisions and good decision-making processes lie at the heart of every successful business. Our author provides synopses of two books focused on this subject. These publications tackle the often gnarly processes of making good decisions and influencing others to make good decisions. 50 onLine CoLLaBoraTion enhanCeS BuSineSS oPeraTionS aT nexSen PrueT by Carlos Rodriguez, Nexsen Pruet, LLC Webinar technologies can be very powerful and can greatly improve your firm's collaboration efforts, not only the traditional uses in the areas of marketing and education, but also to enhance practice and business operations. See how one firm leverages the technology in all these areas with the ultimate goal of delivering better services to their clients.