Cost crystallised
FEATURES
Jem Sandhu looks at how firms are dealing with the challenges of price transparency
Richard Hill, practice director at Stepien Lake, and trainer at the ILFM, on how SME law firms can develop their practice
Mike Leeman at Bell Lamb & Joynson Solicitors, on being more active and transparent with clients with Perfect Portal
Ken Ume at LexisNexis UK looks at how SME firms can make the most of their implemented technology
GET YOUR COPY NOWISSUE IN BRIEF
March comes in like a lion. The beginning of this year is certainly heating up, and we don’t just mean the weather. Much more is still to come around the corner – with Brexit, the new handbook from the Solicitors Regulation Authority (SRA) and more.
It’s been three months since the SRA’s new price transparency guidelines hit the market. How are SMEs warming up to the idea of posting their fees online? LPM writer Jem Sandhu investigates (p18).
FULL DISCLOSURE
Pricing is one of those subjects to which, if there is even a hint of regulation around it, lawyers almost automatically react with resistance. It’s just so closely linked with profitability. So perhaps it’s no surprise that a recent LexisNexis report found that 32% of lawyers rejected the idea of publishing their prices online. It’s a sensitive topic.
AWARD AND EMPOWER – RICHARD HILL, STEPIEN LAKE
Initially, I studied with the ILFM to associate level. The training in legal finance and practice management really suited my needs. But the three main things were: self-development with training, one-day seminars and professional support; new ideas; and connecting to some of the other members.
PICTURE PERFECT
Bell Lamb & Joynson Solicitors is one of the oldest firms in the north-west, established in 1821. The firm has been successful for so long because it has focused on delivering client-centric services – and becoming an early adopter of technology has been key to reaching that objective.
UNDER THE HOOD
With so many options available, addressing the issue of legal technology can feel overwhelming. Every small and mid-sized law firm knows they need to work smarter not harder to remain competitive and profitable, and they also know technology has the power to address key business issues – from work efficiency to effective marketing and attracting talent.
