Key report features In-depth advice on the need, impact, and profitability of hiring a pricing director Detailed insight into the function and skills of a pricing director Clear definition of the strategic position of pricing within a firm How to evaluate the benefit of a pricing director for your firm and its clients Real-world scenarios. The new path to profitability is paved with pricing directors. That's the trend we're seeing, with more than 50 pricing positions created for Am Law 200 firms in 2012.  Put the 'ah!' in RFP  The push is on for law firms and clients to focus on their pricing and matter management strategies. By hiring a pricing director with skills in analytics, technology, commerce, and communications, you're set to create effective pricing strategies and support your firm's competitive advantage.  Who's in the hot seat?  Your pricing director is the budget builder, the profit modeller, the counsellor, the monitor, and the approver: you want to make sure that those already in this role are comfortable with its evolution, or that a new hire can confidently take on the challenge. Brown and Cordo's Law Firm Pricing: Strategies, Roles, and Responsibilities clearly defines the skills and remit of the person required to fill this demanding and responsive role. It provides practical guidance into hiring and developing a strategic pricing role within your law firm that drives successful relationships and profitability.

Law Firm Pricing: Strategies, Roles, and Responsibilities

Brown, Toby

Cordo, Vincent

Legal Education

Globe Law And Business

Many law firms today are far too focused on increasing market share; they should be paying attention to what makes them a more profitable business. Market share doesn't matter much if you're not profitable, and firms cannot simply grow their way to prosperity by undercutting the competition. Instead, firms must focus on value creation and increasing clients' willingness to pay for their services. The question should be: "What can your firm do better, or more efficiently, and more profitably than anyone else?" The Mechanics of Law Firm Profitability: People, Process, and Technology examines why a focus on profitability and metrics is reshaping law firm operations and matter management; how to define the bottom line and to distinguish between "good" revenue and "bad"; and how to change the dialogue from "hours and revenue" to "revenue and profit", while changing the mindset from increasing market share to simply running a profitable business.

The Mechanics of Law Firm Profitability: People, Process, and Technology

Davis, Anthony

Roster, Michael

Bostelman, Jack

Boyd, Chris

Hassett, Jim

Chang, Wendy

Corcoran, Timothy B.

Maziarek, Keith

Parnell, David J.

Perkins, James G.

Petrie, Steven

Voigtmann, Mark

Snavely, Tom

Savoie, Vanessa

<p>Time - as they say - is money. It is not an uncommon fact that lawyers today spend unnecessary amounts of time seeking out information, and therefore unnecessary amounts of money. In well-established fields, change is often slow; perhaps none more so than in the legal world. Though progress is being made, uptake has been rather slow, much to the dismay of those in the information management business. Conversely to its cousin, case management, matter management should be thought of more in terms of low-volume but high-value information. The process thus lends itself nicely to forming centralized systems within organizations. It is so pervasive as to allow users to make decisions (e.g. conflict resolution) before matters are even opened, and can maintain a high level of time data accuracy and transparency via unalterable fundamental data. From innovative and simple interfaces to enhanced reporting tools, from notification systems to customizable workflows, triumphs within matter management have enabled companies to become more efficient by saving time and money, and to engage stakeholders in a meaningful way. Redefining Matter Management: A Best Practice Guide to Improving Processes and Profitability is a collection of case studies that highlights some of the most important achievements and ideas in the field today.</p>

Redefining Matter Management: A Best Practice Guide to Improving Processes and Profitability

BENNETT, Peter

MacDonagh, Catherine Alman

Dyson, Sally

Boake, Barbara J

Ergun, Chad

Kathuria, Rick A.

Leventon, Aileen

Rechtschaffen, Scott

Secor, Peter Lane

Profitability in Law Firms: Insight and Analysis

MARTIN, RICHARD

McCarthy, John

Santiago, Mark

Corcoran, Tim

Campbell, Steven

Peters, Michelle

Srinivasan, Madhav

Brzakala, Richard

Hassay, Wayne

Dodds, Stuart

Jardine, Shaun

Nixon, Phil

Kingston, Jack

Spradlin, Mitch

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