Traditionally, partners at law firms have held the reins when it comes to pricing autonomy, being vested with the authority to negotiate prices, extend discounts, and write-off billable hours. This long-standing practice stems from the principle that partners, with their proximity to clients and intimate knowledge of their needs, are best equipped to make client-specific pricing decisions. However, our data suggests that firms can enhance profitability by moderating partner pricing discretion and instituting a systematic pricing governance framework.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

In an industry where the optimal use of resources and price competitiveness significantly impact client relationships and overall business sustainability, the roles of commercial finance and pricing professionals in law firms have never been more pivotal.

However, their work often remains behind-the-scenes, misunderstood, unappreciated, under-resourced and under-promoted within the firm. We can’t help but feel that in many firms these professionals continue to labour under the burden of the ‘non-lawyer’ pejorative.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

There is no end to the creativity that hourly pricing has spawned.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

The trend towards law firm mergers, particularly in the UK market, continues apace and there is no reason to believe that it will slow down. Quite the opposite one suspects.

Synthesising two law firms represents a huge challenge, even if the balance sheets and P&L accounts are relatively harmonious. The challenges associated with blending culture, values and behaviours are well understood.

With the Virtual Pricing Director Pricing Espresso® we aim to bring you your pricing 'shot' - some of the most interesting, thought-provoking and informative material we can find globally which will be of interest, relevance and help to you in your firms' pricing challenges.

2023 is going to be challenging.

At least that seems to be the consensus amongst managing partners and firm’s management boards, and few would have cause to disagree. Over the last few months, many have been dusting off and refreshing their contingency plans developed at the start of the pandemic.

So, which levers to pull. Everyone knows what they are – hiring freezes/redundancies, postpone moving to the cloud, shelve expansionary plans and lateral hires etc. Which leaves our favourite topic – pricing. “Done that”, I hear you say. I presume you mean an across-the-board rate increase of 11% (some more, some less)? Hmm, well, yes, that’s a small part of it.

WARNING: Law firms, clients and procurement get a gentle bollocking. If you are easily triggered, don’t read on… As you will gather from the title, this blog is underpinned by quite some frustration, so it is perhaps pithier than usual (we all need to let off steam now and again).

First some context. No, it’s not an exercise in hubris. Some context may be helpful so you can decide how much weight to attach to these comments, if any. You might think it is all drivel?