It's the Economy: Building Stronger to Beat the Downturn

Law firms have an opportunity to engage in strategies that will not only help in an economic downturn, but create sustainable strength.

With demand in some practice areas expected to slow and margins under pressure, firms should focus on building competitive capabilities while substantially reducing cost.
These strategies include practice-focused interventions, improving revenue cycle times and revenue capture, reimagining legal and business support, modernizing the legal administrative assistant model, optimizing real estate usage, and proactively engaging in vendor governance.
Appropriately implementing the strategies can result not only in revenue gains or cost savings, but also positively impact the firm's people, clients, technology, and culture.