Waking up to value
magazines|September 2014Why today’s leading legal businesses are building value into their work
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WHAT'S INSIDE?
Bryan Cave’s practice economics group director on creating its very own software to crack the pricing and project management conundrum
Law firm business development is at the forefront of modelling new approaches to client value to keep the hungry young competitors at bay
Leading suppliers share their insights on information management
ISSUE IN BRIEF
When we covered pricing and profitability in September 2013, I wrote that it had been one of the hardest issues of Briefing to put together, ever. That was because pricing is a sensitive topic in many UK firms. So this year, we asked a top US law firm to tell us how it’s done.
We also delve this issue into how UK/ international firms are thinking about pricing, project management and value, speaking with leaders at Baker & McKenzie, Clifford Chance, Herbert Smith Freehills and Mishcon de Reya, pricing guru Bruce MacEwen, and GC-level contacts at Dell and Symantec.
PRICING PROGRESS
Bryan Cave’s practice economics group director Chris Emerson talks to Briefing about setting up and running a pricing team, project management, fixed fees, AFAs and why pricing people are a client’s real best friend
REFINING THE PRICING FORMULA
How well does your firm price its work, both in terms of attractiveness to clients and to the CFO’s keen eye on profit margins? Declan Tan casts his net wide to find out the state of the art in pricing inside the top law firms, and finds an industry rapidly learning the lessons of pricing, profitability and project management
WHY BUSINESS DEVELOPMENT NEEDS BUSINESS DATA
Briefing talks to Paul Odette, manager of BD product management for Thomson Reuters Elite, about getting better BD data in front of those at the sharp end of selling a law firm’s capabilities, and why both culture and capability have to play a part in a better future legal business
