Research Reports

Now, for the first time, IOMA Research has created a must-have report for law firm partners and administrators that delves into key strategy issues, including financial performance, billing practices, technology, marketing, recruitment and retention,… and much more.

Based on 150+ survey responses from law firm partners, administrators and other firm leaders, this new IOMA Research Report covers all the critical issues that a responding firm partner described as "the ones that keep me awake at night."

Published by IOMA and prepared by the editor of the respected monthly newsletter, Law Office Management & Administration Report, this new Research Report explores key strategy issues, such as:

• Growth and how today's firms are managing it through strategic planning, assessment and leadership. From lateral hiring to developing home-grown talent, firms are now growing to the next level by adding additional practice management specialties, with mergers only occasionally cited.

• Planning and managing financial performance, including billing practices, strategic plans, cost savings, and other practice management areas. Over 90% of responding firms anticipate revenue growth in 2007, and 70% reveal that their hourly rates went up over 5% in 2007.

• How to focus firm resources as a means to stay competitive in a changing marketplace. Respondents were especially insightful and succinct in this area, revealing plans from "Focus marketing on businesses that cannot afford high rates of mega-firms" to "Outwork, out network, and out price our competitors."

• Marketing, business development and client relations strategies to attract new busines—and keep current clients. While marketing budgets increased slightly among all respondents, one multi-office general practice firm reported an increase in its budget of nearly 20%.

• Investing in technology to bolster your law firm's ability to deliver the services your clients demand —and to improve internal applications for billing, database building, training, disaster recovery, and more.

• The growing emphasis on training and development at law firms. Budgets are increasing among larger firms, but mid-sized and small firms are flat. Comments from respondents reveal an unfortunate lack of innovative new ideas among firms regarding their training plans.

• And much more

In addition to the analysis of the data gathered from this recent IOMA survey, the report includes the 'stories' behind the data, plus five case studies of how individual firms are approaching these issues.

No-Risk Web Offer: You get IOMA's Ironclad 100% Money-Back Guarantee: if you're dissatisfied with your print report for any reason, return it within 30 days and you'll receive a full refund — with no questions asked. (Sorry, IOMA cannot grant refunds on electronic purchases.)

Click here to review this report's Table of Contents and Introduction.