Service "'bundling" provides economies of scale, lower overheads, a single point of contact and a single invoice at the end of each month. However, the bundling of services to create a single multi-service provider may now be hurting firms who are increasingly looking for specialization, especially with regards to onsite workplace experience services.
a customer is someone who buys something from you once, while a client is someone who keeps coming back to you over and over again. And that subtle difference is what makes a lawyer just a lawyer and one who becomes a rainmaker.
Law firms are increasingly opting for relocations rather than renewals, as firms look to sell talent on their unique identity and flexible approach to work.
There's no doubt that much of the legal industry's profit gains are simply the result of surging demand. But smart firms were also able to harness booming demand to push through rate increases, owing to clients who were desperate to see their deals go through. There's no doubt that the firms taking advantage of this confluence are in an enviable position. That doesn't mean they are sitting on their laurels.
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.
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.
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.
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.
Stifling expenses and a slowdown in transactional work during the first quarter could sink profit growth for the rest of the year, according to a new analysis of legal industry performance.
Deciding to merge is a process that is best undertaken when a firm has as much information as possible about what their objectives and desired outcome is. Developing that information is best achieved by answering four questions.
