Blog

It was great to see so many friends at ILTACON in Orlando last week – it was an excellent opportunity to network, learn and have fun.

Benchmarking is an effective way to help organizations identify best practices, compare themselves to their peers and reveal areas where there may be opportunities for improvement. Benchmarking in the legal business is no exception. Law firms recognize the value of benchmarking themselves against industry standards in areas including fees, financial performance and staffing ratios.

The legal industry is in the midst of a major transformation, and HBR Consulting is fortunate to be at the forefront of that change. As trusted advisors and providers to both law departments and law firms, we understand how the unique strategies and needs of each intersect. By bringing their voices and perspectives together, we are able to use our collective insights to foster greater alignment as they transform the delivery of legal services.

The number-one law firm IT challenge heading into 2019 had nothing to do with acquiring bigger servers or faster networks. The top law firm IT issue for this year was the strategic challenge of change management, according to the International Legal Technology’s Association 2018 Legal Technology Survey.

It was wonderful to see old friends and meet new ones at the recent Corporate Legal Operations (CLOC) Institute in Las Vegas, and to participate in the knowledge-sharing that is the event’s hallmark.

HBR and GLG Law (Gerson Lehrman Group, Inc.) recently co-hosted their first education session on Vendor Risk Management in New York City. This session was part of a quarterly series to provide expert insights into topics that are front-of-mind among legal procurement leaders. HBR’s partnership with GLG, a platform connecting professionals to expert insights, ensures the sessions deliver information from industry-leading sources.

The gig economy is upon us; there is no turning back now. As defined by the Cambridge Dictionary, the gig economy is “a way of working that is based on people having temporary jobs or doing separate pieces of work, each paid separately, rather than working for an employer.”

After a slow start to embrace the idea of using a “hosted” model for managing software applications and client data, law firms have accelerated their adoption of this model in recent years. More than 54% of lawyers reported using a cloud platform last year to host client data, according to the American Bar Association’s 2018 Technology Survey.

Although the predicted time frame varies, most business economists suggest that a recession is on the horizon within the next two years, according to a survey by the National Association for Business Economics released in late February. At the end of the year, many CFOs were predicting recession in the U.S. by the end of this year, and The World Bank lowered its projections for global growth in its ominously titled January report, “Darkening Skies.” We cannot predict when or whether a downturn will occur, but we know from experience that those who maximize their operational efficiency are better prepared to succeed, regardless of the economic situation.

Neither rain, nor sleet, nor snow, nor delayed travel could keep the recent 13th annual 2019 Ark Group's Best Practices & Management Strategies for Law Firm Library, Research & Information Services conference sponsored by HBR Consulting from being a well-attended and content-rich event!