The Right Yield

The right tieldThis article appeared in the October edition of LPM (Legal Practice Management) magazine.

The bottom line of any successful business: turn leads into clients, satisfy client needsand turn a profit. It may feel like a day in, day out phenomenon but profitability doesn’t have to feel like a churn.Phil Snee, development director at Linetime,says there are so many opportunities out there for SME law firms to work on and approach profitability in exciting and strategic ways.

Let the computer do the grunt work, Snee says. Artificial intelligence (AI) and automation are all the rage at the moment. But he says, it’s important to understand which type of AI – data and outcome-based or machine learning, which may be a little out of the SME market’s league at the moment – and how it can be applied in a practical manner in the business.

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