What the Rise of Pricing Officers Says About Big Law's Future

, The Am Law Daily

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The advent of law firm pricing executives—once a novelty act, now nearly a norm—shows that lawyers and their managers have started to use important data rather than ignore it.

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  • Terrific article. Very well written and full of great points. The use of our application by companies is another example of customers wanting to find the best value for their work from law firms they already know and trust. We see a range of behaviors from firms relative to pricing that are often based on factors which would not always be readily apparent to a company trying to determine who to hire. Perhaps the firm has worked against the counter party in the past and knows what to expect - meaning it can be more aggressive. Perhaps one firm doesn‘t need to fill hours while another is presently sitting on inventory - again making it willing to be more aggressive. The one constant, however, that always impacts pricing in a service business like law is that the commodity being sold from the perspective of the service provider always involves time. Time is finite and has no shelf life. No matter the billing method, law firms remain concerned with how that inventory is priced.

  • Betsy Munnell

    Well said, Aric. Accurate. Perhaps overly optimistic, but we can dream. What a BigLaw world it would be without the "partner-as-gang-leader" phenomenon (euphemistically, "silo practices"...or "buccaneer").

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