Many ‘traditional’ law firms need to change their business model if they’re to be at all competitive during the economic downturn, says consultant Ashley Balls, principal of Legal Best Practice.
Mr Balls makes the point that law is a business, lawyers, are not ‘different’ and need to ask repeatedly: what service aspects can be delivered more efficiently and for lower cost without compromising quality?
He says clients are now in the box seat and will demand more for less.
“Investment in IT is part of the solution, not a panacea. Email, the Internet, work-flow tools and automatic document assembly is not the end of the IT journey – it is the beginning.
“Failure to commoditise legal services wherever possible is an insult to clients who are already very familiar with computers and the Internet.”
Mr Balls says outsourcing is not innovation, it is a lifeline and questions the necessity of having expensive, grand offices when support personnel can be located remotely.
He says time and cost-based charging is finished – clients want fixed or annual fees and firms must change their billing practices to accommodate this need.
Mr Balls will elaborate on these issues in an address titled the Future of Law Firms at the 2nd Annual Legal IT Forum in Sydney on 1-2 April 2009.
International speakers include Neil Cameron, Principal of Neil Cameron Consulting (UK), who will discuss the use of technology to improve margins; Janet Day, CIO of Berwin Leighton Paisner (UK), who will give a UK focus on managing partners in lean times; and ILTA President Joy Heath-Rush, who is Enterprise End User Services Director for U.S.-based Sidley Austin LLP.
There will also be panel sessions featuring representatives of Blake Dawson, Mallesons Stephen Jaques, Deloitte Digital and international firms.
To arrange a media pass, request more information or arrange speaker interviews please contact:
Nigel Dique
Informa-IIR 02 9080 4108; 0423 024 819; nigel.dique@informa.com.au
