Pricing and Profitability Summer Webinar Series
We recently co-hosted a webinar with Clocktimizer, which detailed the results from our flash pricing survey and questions around pricing, profitability, and project management. Together with Kelly Quigley, the Global LPM Lead for Hogan Lovells, Pieter van der Hoeven, CEO of Clocktimizer and, Mark Medice, LawVision Principal, we examined where we are now, where firms can score a win, and strategies for the future. Given the success of the webinar and the enthusiastic feedback we received from our listeners, we will be continuing with this series of mini-webinars, or “fireside chats” as we like to refer to them, over the coming months.
The series is designed to keep legal professionals up to date on how technology can support them in pricing, project management and profitability. We will also be featuring panelists from the world’s leading firms to share their tips and advice. Throughout every “chat” we will be focusing on practical information to give your firm the edge and inform your strategy during these uncertain times.
The Pricing and Profitability Summer Webinar Schedule:
- June 17th – Unnecessary Discounting – Why clients are asking for discounts and what firms can do to avoid this?
- The first in our series will look at discounts and how to avoid giving them unnecessarily. We will examine why clients ask for them, and the warning signs you need to know to prepare for such a request.
- We will share strategies which meet client demand, without the need for write-offs. Bethany Knoblauch, Associate Director of Matter Planning at K&L Gates will share how she prioritizes client value and heads off discounts at the source.
- July 17th – Data-Driven Budgeting
- In this discussion, we will look at the age-old question facing the legal industry – how do you reconcile cost and value?
- We will start by examining the importance of knowing your costs and margins, and share some of the tools you can use to get this information in a low impact way. This will include how to get both granular project data and a high-level view of the project to study cost.
- We will speak to industry leaders for advice on motivating leadership, introducing new technology, and how they have integrated data-driven budgets into their firm.
- August 17th – Matter Leakage – Causes and Effects
- This chat will feature industry leaders as they share their views on leakage. We will discuss why it happens, where are the biggest pain points, and how your firm can make easy wins through efficiency measures.
- Our panelists will also cover the importance of smarter budgets to avoid cost overrun and write-offs.
- We will share how to integrate technology to build early warning systems.
- September 17th – Pricing Considerations for 2021
- This will be essential for senior executives, trying to build their 2020/2021 strategies in light of the ongoing economic downturn. We will begin by looking at the pricing progression through 2020 and whether Covid-19 has had a material effect on pricing.
- The webinar will include practical tips on how to build a good strategy for 2021, including how to price to your firm’s strengths and how to build that pricing strategy into your team processes.
- October 17th – Innovation Around Pricing
- Our final “fireside chat” will cover the current state of innovation in the pricing industry, and then where we see it changing in the coming years. This will include both technological and non-technological developments in the industry. We will look at how the matter genome is currently used, and how it could be used.
- We will cover the best ways to exploit the tools at your disposal and how they are accelerating modern pricing strategies. As usual, we will be joined by industry leaders to discuss how they are tackling pricing innovation.
All Chats will start at 12 pm EST and last 30 minutes.