Lawyers Are Missing Out On Billable Hours, Lacking The Right Technology

The Clio Legal Trends Report 2021 surveyed just over 2,000 individuals - 1,056 legal professionals, and 1,002 US-based Clio users. The survey explored how much growth firms have seen, their biggest challenges to continued growth, and the role technology has played.

The key findings included an average realization rate of only 84% across firms, and that high-growth firms are the ones adopting new technologies to operate more efficiently and provide better customer service.

Thomson Reuters also released a Law Firm Billing Efficiency and Write Downs Report, that looks at the primary reasons for write offs within firms. The biggest reasons are the time spent on research and client pushback on bills.