A Blog About Law Firms And Their Clients

I have the pleasure of participating in a CKO/CIO Roundtable dating back to my days at Paul Hastings (where I held the position of CTO/CKO).  The group meets every few months and consists mostly of AMLAW 150 firms.  Top on the group’s mind as of late have been: (a) KM lite — doing more with less;  (b) AFAs — creating workflow systems to help manage and (c) Normalizing Data.  It’s the last topic I want to spend a few moments on today — in that it’s so very critical to being able to effectively offer a client an alternative fee or fixed fee arrangement.  I am not convinced firms have nailed normalizing their data to be able to justify and clearly defend to management profit margins in fixed fee or alternative fee arrangements, other than for the simplest of matters.  If others out there have had success — would welcome your input.