With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

Just as the profession’s approach to pricing has in recent years taken on a greater level of sophistication, so the same is happening in the emerging pricing technology solutions market.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

Today’s article in Horizon by The Lawyer – ‘The leaves are falling, and so are profits’ noted what to most is now starkly clear, that reporting season was characterised by a “revenue up, profits down” narrative.

And no-one is picking the next two years to be anything but challenging as the revenue side dips and inflation and a tight labour market continue to grind margins to fine dust. Well, that’s perhaps an overstatement but, with apologies for the lazy overuse of metaphors on a Friday afternoon, at least the gloss will well and truly come off those profit lines.

Well, that’s a great way to alienate the audience before getting to the first paragraph. I thought about smoothing that title out a bit but, nah, let’s call it how we see it.

But first a vignette – after being in private legal practice for several years I agreed to serve on a cost complaints panel convened by the New Zealand Law Society which was charged with a statutory responsibility to deal with fee complaints from the public. This was 1984.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

Traditionally, partners at law firms have held the reins when it comes to pricing autonomy, being vested with the authority to negotiate prices, extend discounts, and write-off billable hours. This long-standing practice stems from the principle that partners, with their proximity to clients and intimate knowledge of their needs, are best equipped to make client-specific pricing decisions. However, our data suggests that firms can enhance profitability by moderating partner pricing discretion and instituting a systematic pricing governance framework.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

In an industry where the optimal use of resources and price competitiveness significantly impact client relationships and overall business sustainability, the roles of commercial finance and pricing professionals in law firms have never been more pivotal.

However, their work often remains behind-the-scenes, misunderstood, unappreciated, under-resourced and under-promoted within the firm. We can’t help but feel that in many firms these professionals continue to labour under the burden of the ‘non-lawyer’ pejorative.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.