Traditionally, a law firm's approach to pricing engagements has been to use an expert view of how long it will take them to deliver the relevant services to their customer. While this can sometimes make sense in a small law firm, when you start to scale up, it can lead to a number of issues.
Finance directors play a critical leadership role in the legal profession, supporting their firms to adapt to sophisticated and changing client expectations while maintaining internal profits and building the right financial platform for growth.
HBR Consulting had the privilege of hosting an interactive workshop at the 2018 Corporate Legal Operations Consortium (CLOC) Institute that challenged participants to take their law department operations up a notch.
The past 12 months has been a progressive period for the finance departments of law firms across London, particularly for the larger firms where commercial finance expertise is maturing and resources are growing.
You may have heard recently about the case of Brabners LLP v HMRC where the tribunal judge held that electronic property search fees could not be labelled disbursements for VAT purposes, leaving Brabners with a hefty £68,000 VAT bill and law firm accounting departments across the country with sweaty palms.
Managing procurement within a global enterprise is a tall order in the face of increased complexity and uncertainty. Organisational silos, isolated data, and disparate systems can get in the way of a company’s ability to get actionable insights from data.
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