ForeFront: Cost accounting – the new legal reality, February 2016

Peter Zver talks to Thomson Reuters Forefront about ‘cost accounting – the new reality in the legal industry’.

Let’s face it. Back in the day, there was an easy fix for shrinking revenues. When a firm saw its profitability slipping, it could push the billing rate up a little bit. This made all the difference. It was a great solution for firms: it meant they could maintain profitability through thick and thin. And once top-tier firms made the “rate” move, others soon followed.

Well that was then. Then a bad thing happened. You’ll recall that in 2008 an enormous credit bubble burst and triggered a huge economic downturn.

In its wake, we’ve all seen that the majority of law firm clients have become considerably more cost conscious.

Learn more here


By Peter Zver,  President Tikit Inc, North America

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