"The biggest risks to our future are inside our firm."
-- Senior Partner in a Walker Clark client law firm in Europe
As law firms continue to confront uncertain economic conditions, there is a renewed, intensified interest in performance and profitability in every aspect of the internal operations of a legal practice.
Walker Clark services can produce dramatic returns on relatively small investments of time, intellectual discipline, and resources.
Recent uncertain economic times and the prospects of tougher competition in the future have made law firms more intensely interested in profitability than ever before. Profitability is a complex, highly firm-specific issue. Your firm's profitability profile is probably very different from that of your competitors.
Deeply-engrained profitability problems sometimes are hard to detect and have a variety of causes. For example:
- firm-wide weaknesses in associates' profitability
- client demands for alternative fee structures that could reduce profitability to almost nothing
- ineffective business plans, or no business plan at all
- hidden inefficiencies and costs in internal law firm operations
- losing time and money fixing mistakes that could have been avoided with a quality assurance system
- inability to manage business risks, client service risks, and professional responsibility risks
- a failure to understand and take advantage of the opportunities to improve financial performance and client satisfaction through business process improvement, better knowledge management, and artificial intelligence
Click on one of the useful links in the drop-down operations menu to learn more about how Walker Clark can help your firm to make dramatic, sustainable improvements in profitability.