Legal Pricing

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The final session I attended at the P3 conference was TyMetrix’s "Navigating the New Normal – Where to Start." The panel was moderated by John Strange of Baker Botts, and included Holly Montalvo, TyMetrix, Peter Eilhauer, Elevate Services, and Toby Brown, Akin Gump. 

The attendee guide reads: 

As law firms navigate in the new normal they are being asked by corporate clients to deliver their services in a more predictable and transparent fashion. Join our panel of experts in a collaborative discussion on ‘Where to Start’ on this path to deliver a more efficient and effective legal service deliverable while demonstrating value to your client in a transparent way."

As we’ve seen, there is a corporate appetite for more data to analyze what companies are spending on legal services. But where are we today in terms of understanding "big data?" The panelists say "in between a rock and a hard place." Continue Reading Navigating the New Normal – Where to Start

I may be out on vacation this week, but I’m still bringing you some content! 

My first session at the P3 conference on Friday was titled "Imitation is the Sincerest Form of Flattery: Borrowing Lessons in Pricing and Metrics from Other Industries." If you’ve been reading Zen for any length of time, you’ll know that I’m a big fan of looking to other industries for new ideas. And in P3 that’s especially helpful, since we’re not reinventing the wheel here – a lot of the challenges firms face have been seen in some other way somewhere else. 

The program description states: 

As the legal services industry continues to define what works and what does not in the opaque world of pricing, efficiency and process innovation, one can’t help but notice that other industries have been doing these things for quite some time, and not without success."

‘Borrowing’ best practices from others is a business best practice itself, and this panel of pricing professionals from non-legal organizations will share their methodologies, observations and recommendations that will provide both law firm and corporate legal department executives with food for thought on methods for addressing some of the challenges they face and finding effective solutions to conquer them."

Continue Reading Imitation is the Sincerest Form of Flattery: Borrowing Lessons in Pricing and Metrics