Modernizing Legal Services - What is Stopping Us? - Gillman Strategic Group
A recent article I read picked up on some of the discussions generated at this month’s Legalweek New York 2020, where industry leaders gathered to meet about current trends in providing legal services.
They reported that “clients and their in-house counsel often want a more holistic approach from their law firms, including project management and other value-added services that don’t fit into the billable hour. Most law firms, meanwhile, are sticking with traditional legal representation and business models.”
It can be tricky for law firms to navigate out how to deliver what the clients say they want, while at the same time trying to maintain the status quo and continue to be the reliable provider of advice and legal work they’ve always been.
One participant at Legalweek “said she was managing outside representation, a tech team and multiple other aspects of the company’s legal matters—and she wants firms to do more of that work. In-house people don’t want to manage all of it—we want law firms to be the ones to take on a general contractor role and maintain the relationship,” she said. “To best serve the client, don’t offer to introduce them to a new technology tool or a third-party service provider. Do it for them.”
For the clients, it would be nice for them to have one less decision to make. Whether it’s evaluating some new technology or choosing an outside vendor who promises to make managing legal business simpler, law firms can shoulder some of that responsibility.
The law firm can take care of making those decisions based on what works for their clients’ business needs.
Innovation is never easy. But it does sound like the law firms that find a way to offer these additional services that clients are asking for will be able to distinguish themselves from the competition. The challenge is how to do it gracefully.
To read the complete article click here.
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