The Future of the Firm

How to combine traditional strengths and digital scale to create the future firm

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NEW BUSINESS MODELS

A modern service-oriented organisation that is confident with technology and data has many more business model opportunities than ever before, and can extend beyond traditional specialisms to create more value for clients.

We help firms think differently about how they organise services to allow fee earners greater freedom to innovate with new packages and offerings, and understand the process of business model design to make the most of existing assets, IP and relationships.

NEW OPERATING MODELS

The future firm is more likely to be organised around a technology platform rather than a departmental hierarchy, and this has implications for how the firm and its client relationships are managed.

As non-traditional skills such as digital, data analytics, design thinking and customer relationship management become more important, firms will also need to re-think roles and possibly also the division between current fee earning and business services roles.

KEY SERVICE ELEMENTS

  • Business model design
  • Digital & data strategy
  • Service design
  • Digital platform development
  • Business services improvement
  • Digital skills & leadership
  • Technology innovation
  • New ways of working

Designing the Future Firm

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Client behaviours are changing - are you ready?

The rise of empowered clients and internal counsel or finance functions has significant implications for how the future firm operates. We show clients how to take advantage of these new opportunities. 

How is technology changing the firm?

Technology and data change both the services you can provide to clienst and the way you organise the firm. We help you plan for these changes and act on them quickly. 

How will the workforce need to change?

To succeed in changing markets, the future firm will need to address new skills, roles and working culture. Work with us to learn how your firm can prepare.  

Thinking about future-proofing your firm?

Receive our free project checklist to see how we do it…

SELECTED BLOG POSTS

Trustfulness and professionalism

Last week, I took part in two events at the Institute of Chartered Accountants in England and Wales (ICAEW) concerned with the future of the accounting profession and its firms. This followed on from the work we did with the Institute on the Future Firms report, which...

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Procurement as an interface

I had a very interesting session last week with procurement leads responsible for sourcing legal and consulting work for major organisations. I came to the session wanting to talk about service-oriented, not product- or project-oriented strategic sourcing, and to lay...

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The Mandated Revolution

Much has been written - both in our blog and elsewhere - about the many barriers to achieving the meaningful and sustainable digital transformation needed for businesses to operate in the challenging business conditions prevailing in the early 21st Century. From...

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Digital transformation in insurance: beyond CX

Do insurers get FinTech? Coming at a time when, according to Gartner, "half of CEOs expect their industries to be substantially or unrecognizably transformed by digital”, the apparent lack of engagement with FinTech displayed by insurers in a recent PwC US...

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