Partner Article

Create the next generation of legal business

The Jackson reform, the introduction of fixed fees, the recession and the savviness of today’s clients have changed the modern legal environment. SME firms are confronted with more challenges than before which means that they can no longer afford to operate like they’ve always used to.

So don’t let the future catch you unprepared. Here’s how to make sure that you’re ready to lead the change.

1. Change the partners’ mindset. If the partners are stuck in the past then the whole firm is stuck in the past. If your way of working prevents you from progressing then push it out and move on with the times.

2. Ensure that the work is completed by the right people at the right level of expertise. Assign work based on a person’s expertise and not availability or location. Enable your secretaries to support fee earners and use IT to distribute work easily and equally across the practice.

3. Get your pricing right based on reliable management information. Are you undercharging or overcharging your clients? The different systems you use can provide an answer to this question and help you create a sustainable billing strategy.

4. Use technology pragmatically to create more efficient workows. IT can help your firm through hard times. By automating tasks, reducing waste and improving the training & management of your human resources, technology can both save you and make you money. Here’s the story of a law firm that squeezed every drop out of the IT solutions they’ve embraced.

The need to be more flexible, and provide legal services at a more predictable (and sometimes lower) cost in order to remain competitive means that the modern law firm needs to re-invent itself. We’d love to hear your thoughts on the ideas suggested above. Please share your opinion on what would be the best way(s) that a law firm can prepare for the future.

This was posted in Bdaily's Members' News section by DPS Software .