I wrote last fall about innovation in the legal industry—about how there's a lot of talk and little action. Since then, I feel like we've reached a tipping point. Every day I read about law firms using artificial intelligence, adopting legal project management, or hiring pricing specialists, attorneys managing workflows on Kanban boards or mapping legal processes.
It's all great. It's exciting. It's progress.
But is it enough?
Can any of those changes, alone, deliver the value clients want and the performance lawyers need?
The Altman Weil 2016 Law Firms in Transition survey makes it very clear: today's legal market demands a new approach.
Point solutions no longer suffice. We see too many firms focused on single initiatives: improving a knowledge management system, hiring a pricing analyst, buying LPM software, or improving a process. These help, but individually, they are not enough. Firms must integrate these and other strategies in a comprehensive series of initiatives, and then execute them appropriately. That is the path to profitable, measurable, sustainable excellence.
Today we took a huge step. Gimbal and Fireman & Company joined forces to launch the Performance, Profitability & Innovation Group. Together, we deliver increased law firm profitability and improved service delivery using just such an integrated approach.
We understand the preconditions necessary for a successful LPM implementation, a profitable pricing strategy, a process improvement initiative, a powerful KM system. Most importantly, we understand how integrating these key business-building strategies creates a much more powerful outcome than implementing any one of them alone.
Every lawyer defines excellence differently. Every firm or legal department defines it differently. But the elements are all the same. The key to achieving excellence in your performance is to integrate those elements in a logical way that aligns with your strategic objectives. That's exactly what our Performance, Profitability & Innovation Group does. Our team of attorneys and industry experts in pricing, process improvement, LPM, KM, staffing, legal technology, and data analysis helps attorneys focus on the right opportunities and apply the most appropriate mix of solutions to their specific challenges.
We've finally reached the tipping point for change in our profession. It's an exciting time to be in the legal industry, and we look forward to being part of the transformation. Contact us to find out how we can help you.