In this whitepaper, we share real-world examples of the changes law firms are making in response to the "operational blind spot" and other back-office inefficiencies.
Introduction: Law firms today are facing more pressure and competition than ever before due to a rapid evolution of the legal industry that continues to accelerate. Clients are pushing firms to reduce costs and enhance customer service, while increasingly taking more work in house. Competition is coming not only from other law firms, but also from non-traditional legal providers who, with much less overhead, can offer legal services at a greatly reduced cost. Alternative fee agreements, such as fixed-fee pricing, are becoming more prevalent, which means firms must streamline processes and cut costs just to compete. To survive and succeed, savvy law firms will identify opportunities for improvement and embrace innovation on all levels, including, but not limited to, changes to internal structure, implementing better processes and technology, and seeking partnerships with external providers who can perform specific functions more efficiently. One area that is ripe for reform is back-office administrative services.