While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.

While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago. So, we have decided to provide firms with a roadmap which will greatly increase the prospect of durable and sustainable improvements.

While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago. So, we have decided to provide firms with a roadmap which will greatly increase the prospect of durable and sustainable improvements.

While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.

While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved.

There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.

While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the least successful examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.

If I never hear the word ‘unprecedented’ again, it will be too soon, but there is undoubtedly no play book for what we are experiencing. We have had numerous requests from client firms and non-client firms alike for guidance on how to approach pricing in the current environment. We hope that the following will if nothing else, provide some structure to law firm’s consideration of the issues.

With Validatum Pricing Espresso® we aim to bring you your regular pricing 'shot' - the best, most interesting, thought provoking and informative material we can find globally which will be of interest, relevance and help to you in your legal services pricing challenges. [Note: we don't always agree with the content of others that we post but the philosophy of Validatum Pricing Espresso® is shared perspectives, not a personal 'soap-box']

LONDON (28th February 2020) – Virtual Pricing Director®, the legal pricing platform conceived and built over two years by leading international legal pricing experts Validatum® and leading UK cost consultancy Burcher Jennings has just been adopted by legal tech heavy-weight Fieldfisher.

The 2019 PwC Law Firms Survey revealed that, “…the finance function’s top three priorities are pricing and profitability, working capital and business analysis/ reporting. These priorities are reflective of the continued high fee income write off levels and widening gaps in year end and average lock up performance. …What will be frustrating for many firms is the inability to flow these improvements through to the high level of fee income write offs”.

With Validatum Pricing Espresso® we aim to bring you your regular pricing 'shot' - the best, most interesting, thought provoking and informative material we can find globally which will be of interest, relevance and help to you in your legal services pricing challenges. [Note: we don't always agree with the content of others that we post but the philosophy of Validatum Pricing Espresso® is shared perspectives, not a personal 'soap-box']

With Validatum Pricing Espresso® we aim to bring you your regular pricing 'shot' - the best, most interesting, thought provoking and informative material we can find globally which will be of interest, relevance and help to you in your legal services pricing challenges. [Note: we don't always agree with the content of others that we post but the philosophy of Validatum Pricing Espresso® is shared perspectives, not a personal 'soap-box']