Validatum® is the foremost architect of legal services pricing practice internationally. We are a specialist legal services pricing consultancy with operations based in London and New York but with a wide international reach, and regarded by many as the leading niche consultancy of its kind in the world. Our sole focus is legal services pricing; the most challenging and rapidly evolving aspect of the lawyer/client relationship.
Validatum® works solely with the 'sell' side of legal services. Over the last few years, we have had the opportunity to work with a wide range of law firms and barrister's chambers with turnovers of £10 million ($US15m) to £1.25b ($US1.9b). Our clients are regional, national, international, boutique, full-service, and in multiple jurisdictions including the United Kingdom, Europe, North America, Asia, Africa and Australasia. This diversity provides us with deep insight into what at any time constitutes legal services pricing best practice. Some of the clients with whom we have recently worked include...
In a world of increasing specialisation, it is not possible to be the best unless you are focused. That's why legal pricing is Validatum's sole speciality. We have developed a suite of very targeted services to assist law firms and barristers chambers with every aspect of pricing governance, pricing analytics and pricing execution. Some of our most popular and in-demand services include...
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Firms usually make initial contact with Validatum® through their Managing Partner, Finance Director, COO or Head of Learning and Development.
Firms initially want to have a general discussion about what their needs are, where they perceive they are on the pricing sophistication journey, what objectives and outcomes they would like to achieve from working together and whether we have the capability to deliver those outcomes.
We provide an overview of our capabilities and resources. We also offer to put the firms' senior leadership in touch with their counterparts in other firms we have worked with to have a frank discussion about the other firms' experience of working with us. This provides valuable insight.
Some firms are beginning the pricing journey from 'ground-zero' and aren't sure where to begin, some have made good progress but momentum has stalled and others have had a number of false starts. We will recommend a series of formal and informal strategies to identify the firm's pricing pressure points and current status.
Because we offer a completely customised approach to addressing firms' pricing needs, there is no one-size-fits-all solution. Our diagnostic and needs analysis identifies the major pricing pressure points within the firm as well as opportunities for swift implementation and early quantifiable successes.
"Validatum® is without doubt the leading international legal services pricing consultancy."
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What follows will for many of you, be the tortured reality of day-to-day legal practice. In the course of strategising a solution to this real-world problem with a partner recently, it occurred to me that it might be a useful way to kick off our first thought piece of 2021. At issue was a carefully and thoughtfully scoped estimate of ~£75,000 but the final cost is likely to be ~£100,000 - possibly a little more.
Summarising, and appropriately redacted, it went something like this…
In her recent blog on Lawyer Marketing Skills, Sue Bramall a fellow member of the Law Consultancy Network, highlights the importance of financial literacy and pricing skills....
Unfortunately, we still see many firms approach to this limited to not much more than a standard letter that begins "Dear client, we hope you are well. As you know, inflation last year was 2.7%...”