Procurement: The Hidden Path To Maximizing Profits
May 30, 2013, 2:05 PM EDT
Law360, New York (May 30, 2013, 2:05 PM EDT) -- Over the past several years, a shift in the business of law has occurred that has fundamental long-term implications. The days of consistent increases in revenues and margins are gone and have been replaced by a sharp focus on efficiency and cost management. Clients are pushing hard to reduce rates and eliminate chargebacks for administrative expenses, while law firms are taking on increased risks through alternative fixed-fee and reduced-fee arrangements.
Previously, to confront this harsh reality, many firms have undertaken aggressive cost-reduction programs with the goal...