BigHand at Briefing 5P 2020: Climbing the value ladder
It has been a challenging year of change that may have seen many consider what they most value in both business and life more broadly. This session of Briefing 5P 2020 asks whether law firms and clients are on the same page when it comes to the value of a legal service or relationship? How are they working on getting closer? Do clients want to see exactly the same initiatives and value-add offers from all the firms they select for work, and which would they prioritise?
Briefing editor-in-chief Richard Brent is here joined by Marc Anderson, managing counsel at insurance provider Simply Business, and Natalie Salunke, head of legal at RVU, which includes brands Uswitch and Money. Representing Briefing law firms is Steve Arnold, who became head of commercial finance at CMS UK following the firm’s landmark three-way merger in 2017. Now leading a seven-strong team, Steve is responsible for pricing and profitability strategy that includes understanding and consolidation of value in the eyes of the client.
Developed in partnership with BigHand, the session’s group is completed by its product director Tom Spelling. Tom is most focused on the company’s matter planning and pricing tool, which has been designed to leverage firms’ historic and real-time data for better pricing decisions.
This hour of Briefing 5P includes plenty of practical pointers, as well as much anecdotal experience, including:
- What approaches are firms using to articulate value more clearly, and how do buyers of their services think they could improve?
- What do clients want to see in terms of the human relationship at different levels and across functions of the law firm?
- Do clients have ways to measure value objectively, and how much is it something they ‘feel’?
- How have pricing conversations changed, and what value do both sides see in pricing tools as a means of helping them on the journey?
Webinar time: 1 hour. Take a look at the YouTube page for specific timestamps, so you can find content more easily.
Video Length: 00:58:28
