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It’s now been 10 years since the economic crisis of 2008, and just under 10 years since we saw the greatest dip in demand for services experienced by the legal market. The market has stabilized since then, but growth has remained, year-over-year, flat. The Thomson Reuters 2018 Report on the State of the Legal Market shows this trend will continue as we see a market characterized by flat to sluggish growth, a continued decline in productivity, modest rate increases and the continued downward pressure on realization. (A free copy of the report can be downloaded at http://bit.ly/2oaRwbz.)
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The Connection Between Process Improvement, Project Management, and Pricing
By Catherine Alman MacDonagh and Frederick J. Esposito Jr.
Law firms must continuously review business and legal processes to operate and interact with less waste and costs and develop pricing models that address client needs while generating profits for the law firm. This is actually simple, but not easy to do.
After Another Big Year, Law Firms Should Plan for Recession
By J. Mark Santiago
Planning for the downturn in a clear, methodical way by investing the existing good fortune that most firms enjoy into strengthening your technical infrastructure, trimming expenses, and rethinking how administrative services are delivered to the attorneys.
The Stenography Shortage Is Impacting Client Service: What’s the Future of Court Reporting?
By Dean Whalen
In the court reporting market, technology has matured to match or exceed stenography’s stronghold on speed and accuracy and, as such, is poised to disrupt the market.
Why Focusing on Client Experience Is Critical and How to Get Started
By Kristen Dallman
In this marketplace, one thing is abundantly clear: To remain competitive, you must adapt. So how can you adapt in a way that meets the increased expectations of today’s client? Focus on client experience.
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