For firms like ours, having just implemented pricing and profitability tools, the journey is only beginning. Over the past 18 months, we’ve introduced new financial dashboards, matter pricing and profitability analytics, and upgraded older systems for better visualization and real-time connectivity. Technology implementation is challenging, but the harder work lies in making data actionable-turning insights into behavior change and better outcomes.
We’re still learning to interpret data from our new BigHand BI tools, and many attorneys still equate hours worked with financial success - a mindset deeply rooted in legal tradition. This makes the transition to value-based pricing and data-driven decision-making a genuine challenge.
One of our biggest hurdles will be changing perceptions for both lawyers and clients. Take AI adoption as an example: while it improves efficiency, clients often assume efficiency should lower fees. In reality, efficiency means faster, more responsive service-not reduced value.
Our expertise remains unchanged. We must communicate that efficiency enhances service quality and turnaround time while preserving high-value outcomes. Other professions - accounting, architecture, consulting-bill based on engagement value, not direct hours. Clients expect a defined fee tied to scope and hold those professionals accountable for results. Legal is only beginning to adopt this approach, requiring new skills in pricing, scoping, and budgeting.
Cultural challenges outweigh technical ones. We introduced matter budgeting to meet client requirements for litigation updates, yet attorneys still view budgets as compliance-not as tools for managing financial outcomes. The data is there; the tool works-but shifting from “client requirement” to “management discipline” remains a hurdle. Encouraging partners to use budgets proactively even beyond litigation-requires a fundamental mindset shift.
Unlike Am Law 100 firms with dedicated pricing teams and data scientists, we rely on existing staff to learn new capabilities while managing current responsibilities. As Executive Director, I’ve taken a deep dive into the data and begun evaluating how best to communicate and apply these insights.
Our firm, like many others, is just starting this journey-and with the pace of change, we must move quickly. We don’t have all the answers, but we’re committed to learning, adapting, and communicating openly with our clients and teams. If we can align expectations, embrace transparency, and use data to guide decisions, we can turn this inflection point into an opportunity for lasting growth and profitability. The question isn’t whether we adapt, but how quickly we can embrace this new model to deliver greater value for clients and sustainable success for our firm.
