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There is no denying the fundamental shift that is (and has been) underway in the legal industry. As a result, we are witnessing cutting-edge law firms striving to adopt more sustainable business models to meet evolving client needs. While it’s important to discuss theories behind why the legal market historically resists adapting to change, we believe a greater opportunity exists in focusing on how industry leaders can respond to and achieve success in today’s environment.

The data center industry has been undergoing a major transformation over the recent years with new providers offering broader portfolios of robust co-location facilities with mature cloud services at competitive price points. Even in the midst of the industry’s shift, firms continue to recognize data centers as integral components of their overall IT environments.

I recently participated in a podcast series to offer insight into how corporate legal departments can better manage their litigation spending by restructuring their e-discovery strategy. Aiming to alleviate some of the pain associated with e-discovery, the panel and I discussed the use of analytics in cutting costs and the value of approaching e-discovery as a business process. Our discussion included three important areas: review of the current landscape, existing cost drivers, and tips for a successful e-discovery strategy.

With most of us are wrapping up our second favorite time of year (next to income tax season), we can enjoy a brief lull before the chaos of year-end sets in. What joyous time am I referring to? Budgeting Season of course! Year after year we go through the same process and yet somehow it still seems to sneak up on us, leaving us all scrambling until the very last deadline.

Many law firms are seeking to keep pace with the rapid changes occurring within the industry today. A law firm’s culture and structure are key factors as clients set requirements to ensure legal services meet their unique needs, firms’ attorney and staff expectations change with every generation and technologies evolve at the speed of light.

On July 21, iManage finalized a buyout of their core business from HP to become iManage, Inc. The announcement brings with it a certain sense of electricity and excitement that has been missing for some time. Past mergers required some thought around how the core business of iManage would integrate into the overall strategy of the larger corporate entities, and what affect that would have on their clients. With this announcement however, everything just feels right.

One of the most challenging vendor invoice sets for IT and A/P (Accounts Payable) functions to review, validate and approve on a monthly basis are telecommunications invoices.  The invoices arrive in varying formats, are often hundreds or thousands of pages deep and yet surprisingly shallow with information about the service being invoiced.

Based on the Citi Client Advisory Survey, early 2015 showed tepid growth (0.1% increase) in demand, with firms benefitting from a 2.3% increase in revenue driven by a 2.8% increase in rates.  While the overall revenue growth was positive, according to the recent survey, those gains were offset by a 3.9% growth in expenses which starts to chip away at Profit Per Partner and cash flow. Compensation grew by 5.8% which was the key factor in the overall increase in expenses. However, operating expenses were up 2.5% which is slightly higher than overall revenue growth, and highlights the challenges firms are facing in managing their non-revenue based expenditures.

Results of HBR’s Law Firm e-Discovery Strategy Survey

A law firm’s capability to provide electronic discovery (“e-discovery”) services has gone from a novelty to a business necessity. Historically, firms have struggled to find the optimal business model to meet increasing client and business demands.

Bobbi Basile recently participated on a distinguished webcast panel exploring how standardizing e-discovery processes supported by metrics, role clarity and technology can protect a company's brand while also reducing its legal spend.  According to Exterro's 2015 Federal Judges Survey on E-Discovery Best Practices and Trends, many legal professionals need significant improvement in the area of e-discovery. Not only do many legal teams lack the knowledge to adequately advise on e-discovery issues, they open up their clients or organizations to unnecessary risks, increased legal spend and reputational harm. To prevent mistakes from being made, legal directors and inside counsel need a strategy for aligning the various stakeholders (clerks, paralegals, attorneys, service providers and law firms) and putting in place the right checks and balances to mitigate e-discovery dangers.