Validatum® is the foremost architect of legal services pricing practice internationally. We are a specialist legal services pricing consultancy based in London but with a wide international reach, and regarded by many as the leading niche consultancy of its kind in the world. Our sole focus is legal services pricing; the most challenging and rapidly evolving aspect of the lawyer/client relationship.
Validatum® works solely with the 'sell' side of legal services. Over the last few years, we have had the opportunity to work with a wide range of law firms and barrister's chambers with turnovers of £10 million ($US15m) to £1.25b ($US1.9b). Our clients are regional, national, international, boutique, full-service, and in multiple jurisdictions including the United Kingdom, Europe, North America, Asia and Australasia. This diversity provides us with deep insight into what at any time constitutes legal services pricing best practice. Some of the clients with whom we have recently worked include...
In a world of increasing specialisation, it is not possible to be the best unless you are focused. That's why legal pricing is Validatum's sole speciality. We have developed a suite of very targeted services to assist law firms and barristers chambers with every aspect of pricing governance, pricing analytics and pricing execution. Some of our most popular and in-demand services include...
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Firms usually make initial contact with Validatum® through their Managing Partner, Finance Director, COO or Head of Learning and Development.
Firms initially want to have a general discussion about what their needs are, where they perceive they are on the pricing sophistication journey, what objectives and outcomes they would like to achieve from working together and whether we have the capability to deliver those outcomes.
We provide an overview of our capabilities and resources. We also offer to put the firms' senior leadership in touch with their counterparts in other firms we have worked with to have a frank discussion about the other firms' experience of working with us. This provides valuable insight.
Some firms are beginning the pricing journey from 'ground-zero' and aren't sure where to begin, some have made good progress but momentum has stalled and others have had a number of false starts. We will recommend a series of formal and informal strategies to identify the firm's pricing pressure points and current status.
Because we offer a completely customised approach to addressing firms' pricing needs, there is no one-size-fits-all solution. Our diagnostic and needs analysis identifies the major pricing pressure points within the firm as well as opportunities for swift implementation and early quantifiable successes.
"Validatum® is without doubt the leading international legal services pricing consultancy."
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Most firms now recognise that pricing strategy and execution requires considerably more focus and effort than has historically been the case. But as with any initiative, the starting point should be a critical appraisal of how we are doing currently. Only by taking a candid and honest view of the current state of affairs do we have a basis for deciding what is required to make improvements and how to prioritise those efforts.
With Validatum Pricing Espresso® we aim to bring you your regular pricing 'shot' - the best, most interesting, thought provoking and informative material we can find globally which will be of interest, relevance and help to you in your legal services pricing challenges. [Note: we don't always agree with the content of others that we post but the philosophy of Validatum Pricing Espresso® is shared perspectives, not a personal 'soap-box']
"I am sick and tired of asking my external law firms for a garden shed and getting a bloody office tower and a bill to match!"
So opined [verbatim] a very frustrated FTSE 100 GC in a casual conversation with us recently.