Ultra-transparency in law firm fees is a competitive advantage
Law firm pricing has come a long way in the last decade, especially at the behest of pressure from clients. While it's improved tremendously, it remains imperfect which presents an opportunity for forward-thinking firms.
Ultra-transparency, like sharing real-time WIP and accruals, provides a significant advantage in a competitive market teeming with rivals, potential substitutes, and the threat of new entrants.
Our CEO Nicholas d'Adhemar and Alastair Young, Managing Partner of the Dentons' Middle East Division, recently co-authored an article for Bloomberg Law to explore the three primary benefits to law firms in exchange for ultra-transparency.