Just as pricing is becoming an essential part of a law firm’ strategy, so the pricing function is becoming a clearer position in many legal practices whatever their size, says Martyn Draper
Over the past decade, business services roles in corporate law firms have evolved significantly.
Not only have the traditional functions in finance, business development and marketing, human resources and technology grown both in terms of size and sophistication, new roles have also emerged in knowledge management, risk and compliance, strategy and innovation and legal project management.
But it is the growth of pricing as a standalone discipline in the legal profession that is a particularly notable shift of recent times.
Pricing remains a significant challenge for the legal profession due to ever-increasing pressure to justify hourly rates and the fast shift towards alternative fee structures. <...
