IT Finance Services partners with Brand Experiences

At ITFS we are always on the lookout for great solutions that improve law firm effectiveness.

Law firm branding with MyCustomerLens – do you walk the talk?

How strong is your law firm branding? Brands and client expectations are dynamic. Unless your brand measurements are equally dynamic, you risk losing sight of the gaps between the promises your firm is making to clients – on pitch decks and web pages – and the experiences your client’s are actually having.

How to take the guesswork out of CX improvements according to MyCustomerLens

Hybrid working, digitised services and the responses of your competitors are all influencing how clients see your brand and how it compares. So how can you keep your finger on the pulse and ensure that your firm makes the right decisions about CX improvements?

Elite unveils bold new brand and logo

Elite, a leading provider of financial management and business operations solutions to the world’s most successful law firms, today unveiled a new brand, logo and visual identity.

Law firm branding with MyCustomerLens

How do you measure the strength of your law firm branding? Brands and client expectations are dynamic. Unless your brand measurements are equally dynamic, you risk losing sight of the gaps between the promises your firm is making to clients – on pitch decks and web pages – and the experiences your clients are actually having.

Using AI to measure your brand promises with MyCustomerLens

Have you started using AI to measure your brand promises? Measuring your brand through annual research is no longer the best way to track progress. Client needs and expectations – not to mention the services delivered by your competitive alternatives – are evolving too quickly.

Integrity matters: exploring transparency in modern legal practice with Advanced

Integrity is important to law firms, and clients are often sceptical to trust firms as well. As such, the importance of transparency in legal proceedings and client relationships is vital with financial dealings of law firms the most critical area for scrutiny. In this article, we delve into the significance of transparency in finances within law firms, and explore methods for enhancing transparency, and weigh the benefits against the potential drawbacks of not adhering to these principles.

Transparency serves as a cornerstone of trust in any professional relationship, and this holds particularly true in the legal industry. As clients place their legal matters and financial resources in the hands of law firms, they expect a high level of clarity and openness in all financial transactions. However, the legal industry has historically been criticised for its opacity in billing practices, making it difficult for clients to understand the value they receive for the fees they pay.

This is despite steps firms take to outline their position. Engagement letters will outline costs to clients, but potentially only hourly rates and projections, with a guide estimate potentially the only thing that clients can go to set their expectations. Something that can come crashing down if the matter is complex.

Law firms can take proactive steps to enhance transparency in their financial dealings and client interactions, ultimately bolstering trust and integrity. Regular updates on fees and expenses should be communicated to clients as well. By providing itemised invoices that clearly outline the services rendered, time spent, and expenses incurred, you are empowering your clients to understand the value of the legal services they receive and minimises the chances of surprises.

Embracing technology can streamline communication and transparency. Client portals can offer real-time access to case updates, billable hours, and expenses. Regular communication through emails, phone calls, or virtual meetings keeps clients informed about the progress of their cases.

While hourly billing remains common, law firms can explore alternative fee arrangements such as flat fees, contingent fees, or hybrid models. These arrangements can increase transparency by aligning the firm’s interests with the client’s goals.

The importance of transparency

Transparent billing practices foster trust and client satisfaction. When clients understand what they’re paying for, they are more likely to appreciate the value of the services rendered. Detailed invoices and open communication minimise the potential for billing disputes, leading to a smoother attorney-client relationship and improved overall experience.

Law firms that prioritise transparency can distinguish themselves in the market. Clients are more likely to choose firms that offer clear, transparent billing practices over those that don’t.

Conversely, a lack of transparency in billing processes can have several negative repercussions. Clients who feel deceived or surprised by unexpected charges are likely to lose trust in the law firm, leading to dissatisfaction and potentially creating brand detractors. In today’s digital age, a single dissatisfied client can share their negative experience online that is seen by anyone searching for more information on your firm, tarnishing the law firm’s reputation and potentially affecting future client acquisition.

Operating with non-transparent billing practices may also raise ethical concerns, damaging the law firm’s professional credibility. The loss of client trust can lead to delays with payments, disputes raised, and invoice actualisation reduced. Ultimately, a lack of transparency could lead to less customers and less revenue.

Transparency in financial matters is a vital component of modern legal practice that underscores integrity, trust, and ethical conduct. Law firms that embrace transparent billing practices and open communication stand to gain not only in terms of client relationships but also in terms of their reputation and competitiveness.

SME law firms can build a client focused brand – Webinar by Osprey, 21 September 10am

How to build a client-focused brand and the impact that a law firm’s pricing model has on the client experience are the key topics to be discussed by an expert legal panel, for the second episode of series two of Osprey Approach’s Build Better Habits webinars.

Social media top tips by Conscious Solutions: how can lawyers talk about their careers on social media without breaching client confidentiality?

We regularly talk to our clients and colleagues in the legal sector about the importance of investing time in a personal brand to carve out an identity online. It’s likely you already have a personal brand from when people meet you at events and conferences, and it’s important that your online and offline brand are in sync.

Get insights on how to get organic news coverage on your site with digital PR with Conscious Solutions

Digital PR is intrinsic to building a brand image across reputable online news outlets and highlighting you as an expert in your field. On top of this, it has the added benefit of boosting the SEO portfolio of your website, increasing traffic, and boosting leads.