Reading:
What in-house counsel value the most when choosing a law firm

Image

What in-house counsel value the most when choosing a law firm

by Amy
22nd December 2020

A survey of more than 200 in-house lawyers conducted by Thomson Reuters reveals that the most important factor when deciding on an external law firm is the responsiveness.

The results for responsiveness was 8.8 out of 10 in terms of importance.

Responsiveness ranked higher than price (7.5), deep specialist expertise (7.6) and understanding of the business and its industry (8.6).

According to Thomson Reuters, the results demonstrate the growing pressure on law firms from clients, to be responsive to needs related to matters. It also suggests that firms need to have deep legal knowledge and commercial awareness.

So what does this mean for lawyers at law firms?

It simply means that law firms need to prioritise client responsiveness, and adopt tools and systems that allow them to easily do so.

The need to ensure firms’ responses “reflect the commercial and wider-industry in which the client operates”, according to Samantha Steer from Thomson Reuters.

How can law firms improve responsiveness?

By developing and implementing procedures that ensure consistent and strong responsiveness rate. And, allow firms to build and maintain relationships with clients.

A tool that is useful for this is a legal contact relationship management system (CRM).

A legal CRM will allow lawyers, on both individual and firm-wide level, to systematically, automatically and accurately, track and manage client interactions, matters and relationships.

A CRM allows lawyers specifically, to serve their clients’ changing needs, keep top of mind, and stay up to date with the personal details and matter information.

Come and take NEXL’s law firm CRM for a spin in your free personal demo with CEO, Phil Thurner, and see how you can easily improve your responsiveness to client needs, and your relationship management.

Book your time slot for January 2020 here

Read more about the Thomson Reuters survey here.



0 Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Stories

13th May 2021

Fireside Chat: Digital Business Development

10th May 2021

Implementing A CRM – The Truth

Arrow-up

Do you need a hand in the right direction?

You are in the right place.

Be one of the first to get a copy of the 2021 Global Legal Business Development Report

Get your hands on this exclusive intel, benchmark your efforts against the industry and pick up a few ideas and strategies from the experts. 

small_c_popup 1

Let's have a chat

See how you can increase Cross-selling and Client retention at your firm