Law firms are investing in these three areas for the future, coming out of an unusual financial year.
- Client experience is a key area of investment, with focus on the full client matter lifecycle including pricing, time billing, and client communications, as well as a focus on digital connections.
- Firms are also investing in operating models, looking to ensure alignment between their operating models and legal practice, as well as investing in partnering opportunities such as client collaboration/co-innovation and managed services provides.
- Investing in firms' strategic growth encompasses both lateral hires, which are at an all-time high, and mergers.
- Business development
- Business operations
- Cloud
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