Follow Us
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
The economic outlook for firms in 2023 is challenging. Law firm overhead expenses have risen to their highest levels in over 15 years, demand growth is slowing, and for the first time, the annual average rate of inflation (5.0%) is exceeding the average worked rate increase across the market (4.8%) and clients, feeling their own inflationary pressures, may be challenging invoices more frequently and aggressively or simply slowing down their payment cycles.
*May exclude premium content
Legal Operations Success In an Uncertain Economy
By Ari Kaplan
In the uncertain economy that is characterizing the first quarter of the year, there remains a significant emphasis on demonstrating value to secure new resources.
Top 7 Reasons Firms Are Leveraging Experience Data
By Jason Noble
Looking forward, firms appear to be counting on rate increases to maintain profitability, but there are signs that clients are likely to be more resistant to further rate hikes as payments slow down and realization was in decline at the end of 2022.
Law Firm Profitability and Learning from the Past
By J. Mark Santiago
Future partners will be identified, developed, and elected from the associate ranks, so they truly represent the future of the firm. Reducing the number of associates from which to choose future partners is a risky undertaking.
Despite Aggressive Rate Increases from Law Firms, Clients Have Room to Negotiate
By Andrew Maloney
Rate increases across the legal industry haven’t been as big as the conventional wisdom implies, and clients have more room to negotiate than they probably realize.
Copyright © ALM Global, LLC. All Rights Reserved.
