What the Rise of Pricing Officers Says About Big Law's Future Aric Press, The Am Law Daily July 3, 2014 | 2 Comments share share by mail share on linkedin Facebook share on twitter share on google+ Share With Email Send Thank you for sharing! Your article was successfully shared with the contacts you provided. print reprints 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. Sign up for a free digital membership and get great benefits like: Already Registered? Sign In now 5 free articles* every 30 days, from other ALM publications Exclusive discounts on ALM events and products The American Lawyer digital newsletter, plus your choice of more than 30 digital newsletters Access on the device of your choice: smartphone, tablet, or desktop Unlimited free access to Corporate Counsel and Law Technology News online Create Account with LinkedIn Register Now *May exclude premium content VIEW COMMENTS ( 2 ) ADD COMMENT What's being said Sign In Terms & Conditions Dave Sampsell, BanyanRFP.com Jul 07, 2014 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 Jul 07, 2014 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"). Comments are not moderated. To report offensive comments, click here. Preparing comment abuse report for Article# 1202661735831 Send Thank you! This article's comments will be reviewed.