By Andrew Hedley, Director, Hedley Consulting
The enduring market for legal services, with supply significantly exceeding demand, means that law firms are being challenged by their clients to deliver their services better, faster and cheaper than ever before. Impending deregulation seems set to be a further catalyst for this now established trend. A wide range of conversations with managing partners reveals that increased activity is not being commensurately matched with increased revenue. Firms are running harder to stand still and the long term prognosis for profitability is bleak, unless a different op...
