Are paralegal jobs in jeopardy?

Plus: Managing your firm's financial systems

Raise The Bar

Nov 7, 2024 • 5 min read

This week, we look to the future. One legal tech service provider examines the next decade of AI, predicting that it will change the substance of work (but maybe not the billable hour). Closer to the present, a legal accounting and bookkeeping expert advises that, while numbers are important, always keep your vision in mind when planning your firm’s financial goals.

In today's newsletter:

What will the next decade of legal AI bring?
Systems for financial success
Best practices for professionalism
Which web analytics really matter?

For the book lovers:
Lawyers are avid readers, and many fondly remember receiving recommendations from a local librarian as children. If you want that same feeling as an attorney, look no further than a law library. Many curate book lists like this one from Lewis & Clark Law School.

Holiday gift guide:
From an $11,000 fountain pen to a $120 zippered portfolio, Attorney at Work’s analog gift guide holds something for every lawyer on your list.

Do we have a quorum?
Mignon Fogarty talks about the origin of parliamentary procedure words – like “quorum” and “bylaws” – with attorney and parliamentarian Jim Slaughter in a recent episode of her Grammar Girl podcast.

Look into the AI crystal ball

What will the next decade in AI bring to the legal profession? Paralegals as we know them may soon become a thing of the past, according to Carina Negreanu, vice president of contract automation company Robin AI. She predicts that the next decade of AI advancements could redefine their roles, even though the billable hour might continue to hold its place in the legal profession

Negreanu predicts that AI in law will go from "smart enough" today to a "partner” in 10 years, freeing up lawyers for more strategic work and allowing others to “obtain legal advice and support with a high degree of competence and confidence."

"The way we practice and learn the systems of law will be unrecognizable — legal education will have transformed from memorization and research skills to critical thinking and new skills related to engaging with AI systems and verifying AI output in order to succeed," she concludes. (LegalDive)

Set financial goals with vision in mind

Even with new tech solutions to help law firms manage their finances, it’s still important to focus on basics. Appearing on the New Solo podcast, Peggy Gruenke, founder and co-owner of legal accounting and bookkeeping service CPN Legal, reminds attorneys that they are not bookkeepers. She encourages them to get the support needed to create and manage financial processes. Gruenke advises firms to monitor profit and loss regularly, but even before setting financial goals, set the overall vision for the firm.

“Before I get into financial processes, I’d really like to make sure that a lawyer has a vision for their firm. And with vision comes strategy, which comes [with] understanding your financials,” Gruenke says. (New Solo podcast)

Best practices, from retainers to 'reply all'

Writing for Practical Law: The Journal, Andrew L. Oringer, partner and general counsel for The Wagner Law Group, provides a comprehensive look at considerations for attorney best practices.

“Merely meeting baseline compliance with professional conduct rules may not be enough to guarantee success. There are aspirational aspects to how attorneys should conduct their practices – not only in how they treat clients, colleagues and adversaries, but also in their approach to the practice of law itself,” Oringer writes.

Many of the suggestions – like watching out for who is included on a “reply all” email and closing out a conference call before starting another – are common sense, but can always bear repeating. Oringer suggests that firms create, periodically update and distribute a list of best practices, and this list provides a useful place to start. (Practical Law: The Journal)

Google Analytics and SEO for lawyers

What do lawyers need to know about web traffic? On an episode of the Counsel Cast podcast, digital agency consultant Pete Everitt tells lawyers why they need to understand what metrics truly matter for bringing in business. “Everybody likes to know that they've got visitors on their website, but actually traffic's a bit of a vanity number, so you want to look at that in line with the stuff that makes a difference to your business,” he says. For example, beyond the number of website visitors, look to the traffic sources, like paid or organic search, social media, or email marketing. (Counsel Cast podcast)

Thank you for reading Raise The Bar.

Every Thursday, you'll hear from our team about the most pressing issues facing legal practices today. We'll also try to include some quick-hit reads that touch on interesting cases and precedents being set worldwide.

Have anything you'd like us to cover? Send an email raisethebar@mynewsletter.co

Written by Suzi Morales. Edited by Katie Parsons.