Law Firm Pricing Insights Report Examines Evolving Pricing Practices
“Price is what you pay. Value is what you get” — Warren Buffett
Figuring out how to price legal matters is an increasingly complicated balancing act. Firms are under pressure to make sure the rates they charge provide good value for clients in terms of the services provided, while maintaining adequate profit margins for the firm.
Firms are increasing using dedicated pricing professionals, and pro-actively collaborating more closely with clients on pricing and budgets.
The report examines findings gathered through in-depth interviews with 25 pricing professionals from among many of today’s top law firms. The findings deal with topics ranging from the internal operations of the pricing role, the key role pricing professionals play in delivering value to the client, and how the job of a law firm pricing professional may evolve in the future.