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Almost every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.
When you find yourself with symptoms of an illness—sweating, shivering, pain, sapped of energy, an inability to keep down food, etc.—you wouldn’t try to solve the problem by simply taking a pain reliever and eating some chicken noodle soup, would you? Of course not. Whether it’s a medical or a financial problem that has you outside your scope of knowledge, there’s no excuse for trying to be your own doctor.
Price transparency consistently ranks as one of the top factors for consumers satisfaction, yet the healthcare industry continues to have some of the most obscure pricing structures in the American economy. According to research by InstaMed, 91% of patients are demanding greater transparency. Because of this phenomenon, CMS and other payers are demanding that providers give their patients more accurate information about costs.
Millions of businesses, especially small to mid-sized firms, want to grow and prosper by serving their customers well—but they also expect to be paid promptly for their product or services. In our twenty plus years in the commercial debt recovery business, we’ve observed a universal fear among people in business: They want the money they’ve earned but they’re deeply afraid to press too hard lest they upset customers who not only might not pay but could also take their business elsewhere.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Most lawyers have a general understanding of what encryption does. (If you don’t, let me introduce you to Wikipedia.) Nevertheless, most attorneys don’t feel like they have a comprehensive plan for managing encryption in their law firms, when it comes to sending secure files to clients and colleagues. That leaves a lot of law firms feeling a little insecure.
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If you ever want to stop practicing law, and become a business management consultant, here’s how you do it: When lawyers ask you about going paperless, recommend the Fujitsu ScanSnap ix500. It is, hands-down, the best scanner for law firms on the market; and, in over a decade of consulting work, I’ve never had a single complaint about it. It’s fast, it’s wireless, it works on both PCs and Macs, it’s portable and it comes with PDF conversion software.
When you find yourself with symptoms of an illness—sweating, shivering, pain, sapped of energy, an inability to keep down food, etc.—you wouldn’t try to solve the problem by simply taking a pain reliever and eating some chicken noodle soup, would you? Of course not. Whether it’s a medical or a financial problem that has you outside your scope of knowledge, there’s no excuse for trying to be your own doctor.
Law firms have never been particularly great at onboarding of staff, including associate attorneys. I suspect that most lawyers agree that effective staffing is essential; but, most attorneys are so deep into the substantive work they do that they don’t prioritize training. At the same time, attorneys usually just let their technology wash over them, using what they’ve always used, while again focusing on their substantive work, and fearing the productivity dip inherent in adding new software.
Law firms operate between ad hoc decionmaking and fire-putting-out. It’s the natural state of the law firm manager. That being said, humans have been improving on the state of nature since there have been humans. So, it’s maybe not the worst thing in the world if this is the year you decide to put together revenue projections for your law firm. If you’ve never done it before, start now.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
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