Skip to main content

Posts

Showing posts from August, 2012

Knowledge sharing, the BIG obstacle for law firms?

- Reda Bennani - Consultant

Innovative legal service Practices have been threatening the status quo of the traditional legal profession. An overabundance of legal information and document management systems have been taking advantage of the anticipated genesis of new-adopted business models, that would change the practice and influence business leaders. Trending IT practices and systems, have deployed their expertise to serve the legal industry which is lacking far behind in adopting pure Resource Planning solutions.
Law Firms have jumped on the collaboration bandwagon using tools such as Microsoft SharePoint to collaborate both on a firm and client-facing basis, but the recent study from ILTA 2012 shows that only 24 % of law firms adopt these systems, which is a weak number compared to the potential upside this tool can bring to the firm bottom line. We all know that there are traditional and trending unorthodox reasons for the lack of Knowledge sharing, here is my take on that:
The fe…

Embracing AFAs?

Embracing AFAs? - By Reda Bennani, Consultant
We all agree that most major change initiatives—whether intended to boost quality, improve culture, or reverse a corporate death spiral—generate half-hearted results. While the use of Alternative Fee Arrangements (AFA's) is rapidly growing, with variations likely to become as common as hourly rate billing, there are ongoing debates about their implementation based on law firms’ needs, their changing business model and their willing to track budgets and deliver a world-class service.

Clients have been “pushing” law firms into joining them in adopting better business practices and reduction of their historically high profit margins.These same clients have been embracing the innovative realm of AFA’s that have been bringing value “SAVING MONEY” and delivering results with “NO FUSS”.
While there are numerous AFAs types, processes have not been established on how to implement these new billing models by the vendors. Law firms, often limit the…