Law Firm Margin Improvement: The Long Game

Law360, New York (February 9, 2017, 10:42 AM EST) -- With geopolitical and economic uncertainty on both sides of the Atlantic, many larger law firms are regarding the outlook for 2017 and 2018 with a degree of trepidation. More sophisticated corporate buying behaviors and an uncertainty of transactional revenues are stalling revenue growth. The slash and burn of redundancy rounds may soon be upon us again. Yet, for all the lessons learned since 2008, it is surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The financial warning signs have been there for several years and client's expectations of consistency and efficiency of service delivery are clear....

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