How can law firms secure growth in ‘the age of the client’?
The balance of power in the client/lawyer relationship is shifting, with knock on implications for law firm sustainability. To be one of the “fifty survivors” in the long term, law firms need to understand and meet client demands while also maintaining a keen eye on profit margins. This year’s LexisNexis Bellwether report ‘The age of […]
How to prepare your law firm for a merger or acquisition
Since the economic recovery began, confidence in ‘investment for growth’ strategies has led to an unprecedented number of mergers in the legal sector. Managers of small to medium sized law firms now face relentless pressures, both from competition and from clients demanding more for less. With a focus on ‘bigger is better’, M&A has often […]
What is a good law firm management information pack?
Let’s start with what it’s not – and this is something I see quite a lot of – a thick pile of printed reports containing huge amounts of financial detail. Peter Drucker, the “founder of modern management” once said, “The fewer data needed, the better the information. And an overload of information, that is, […]
Why law firm management information needs specialists (and why PMS vendors are not specialist enough)
Earlier this year I shared our insights on how to create the best law firm management MIS, built up over many years of working with SME legal firms to develop bespoke management information systems. Through this process, we have honed in on everything that a law firm MIS needs to do to give practice managers […]
Why most law practice management systems set law firms up to fail
George Bull of Baker Tilly is recently quoted as saying he believes that “of the 200 or so mid tier law firms, only some 50 may survive in the short-medium term.” Why is this? In his paper, Are you going to be one of the fifty survivors?, he sets out 19 key issues that befall […]
