Pricing and profitability for law firms

Venue: London

Location: London, United Kingdom

Event Date/Time: Feb 28, 2012 End Date/Time: Feb 28, 2012
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The issue of pricing remains high on the agenda for those responsible for the financial management of law firms, never more so than now, given the increasingly difficult economic environment faced by firms and their clients. The impact of pricing decisions on profitability is a critical issue and requires a significant change in the way work is managed if profit levels are to be sustained. The debate rages about the move towards value and fixed cost pricing models and the predicted demise of the billable hour. As clients become more and more sophisticated and cost conscious prices in turn are being driven down; added to this is the increased presence of legal panels and tendering for work. So what are the alternative pricing models and how will they impact on your firm? How will the current economic climate as well as the new SRA guidelines impact on your pricing structures?