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During a recent discussion with the team at SirionLabs and a select group of leaders in legal operations in highly-regulated organizations, several key themes emerged that are likely to drive new initiatives in 2023. In the uncertain economy that is characterizing the first quarter of the year, for example, there remains a significant emphasis on demonstrating value to secure new resources. Automation is also a meaningful objective and the overarching pursuit of process improvement is influencing technology deployment for many, particularly for those focused on efficiency gains in a resource-constrained environment. And of course, many positions on returning to the office remain fluid.
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Financial Strategies that Improve Security and Optimize Your Technology Spend
By Mike Henderson, Whitney Jones, and Bill Pitcairn
Shifting large IT purchases over to a predictable monthly expense is a pricing model that has taken over most industries with the introduction of cloud services, and this can be a particularly useful model during challenging markets.
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.