The pricing of legal services is no longer simply about setting rates. Properly optimizing a firm's pricing strategy is a critical source of competitive advantage and increased profitability, which now more than ever is crucial to staying relevant in the legal sector. Firms must start looking to demonstrate their ability to provide clients with greater value through alternative fee arrangements, effectively controlled budgeting methods, and the integration of innovative firm management pra...

Time - as they say - is money. It is not an uncommon fact that lawyers today spend unnecessary amounts of time seeking out information, and therefore unnecessary amounts of money. In well-established fields, change is often slow; perhaps none more so than in the legal world. Though progress is being made, uptake has been rather slow, much to the dismay of those in the information management business. Conversely to its cousin, case management, matter management should be thought of more in ...

The legal profession, like so many other fields, has continued to reel from the deep-reaching and significant impact of the 2008 financial crisis. In the years following the crash, a general downward turn in the demand for legal services compelled firms to tighten their belts, make tough decisions, and come up with innovative strategies in order to survive. One of these was an increased focus on profitability and different means of managing and improving it, a relatively new development fo...

The convergence of changes in the legal landscape - wider economic pressures, the growing implementation of legal technologies, the disrupting influence of alternative service providers and their competitive pricing offerings - mean that the corporatization of the law firm is well underway. The "business of law" is now more of a priority than ever before, with procurement and pricing professionals playing increasingly significant roles within firms and a growing focus towards the measureme...

In today's modern, techno-centric world with its endless endless supply of data, and the multitude of ways to collect and utilize it, Intelligence has become the best tool for law firms when it comes to understanding client needs, offering quality value-oriented services, and garnering and retaining business. Ark Group's new report Strategic Intelligence for Law Firms offers a robust overview of how, and why, strategic use of intelligence can foster real results in your firm. Featuring adv...