The Legal Pricing and Budgeting Report

The Legal Pricing and Budgeting Report collates data from over 800 senior legal finance and pricing professionals, Managing Partners, Practice Managers, and Finance Systems roles from law firms across the UK and North America with 100+ lawyers. The findings give a unique view into the latest legal pricing and matter budgeting trends including:

Escalating client expectations, including demands for increased financial transparency and AFAs
The impact of the pandemic on billable hours, write-offs, and PEP
How law firms are responding, including the expansion of AFAs
The state of law firm matter budgeting and tracking against actuals and its impact on the bottom line
How People, Process, and Technology are more important than ever as firms return to ‘normal’ working patterns and plan for the next phase of growth

The Legal Pricing and Budgeting Report

Escalating client expectations, including demands for increased financial transparency and AFAs
The impact of the pandemic on billable hours, write-offs, and PEP
How law firms are responding, including the expansion of AFAs
The state of law firm matter budgeting and tracking against actuals and its impact on the bottom line
How People, Process, and Technology are more important than ever as firms return to ‘normal’ working patterns and plan for the next phase of growth

BigHand’s Legal Pricing and Budgeting Report 2021 confirms the extraordinary pace of the change occurring within law firms and the rapid evolution towards real-time visibility of all matter pricing across the firm to enable individuals to take responsibility, deliver client value and maximize profitability. Report sections include:

Supporting Clients Through the Pandemic
Taking Steps to Retain Profit
Evolving to Meet Client Demands
Improving Matter Budgeting Process
Investing in People to Improve Matter Management
Empowering Lawyers with Data Visibility
Committing to Pricing Technology and Reporting

Download the full report above, or preview the findings in the infographic below.

Download the full report above.

What's in the report?

See other BigHand Reports...

Legal Matter Pricing Report

The Legal Resource Management Report

Cash Flow and Profitability Survey