In our recent survey of over 300 decision makers at law firms globally, we found that the use of Alternative Fee Arrangements (AFAs) continues to rise and in some cases now makes up nearly half of their work.
So, what does this mean for business development and legal pricing professionals? How can these two groups work together to maximize value for their clients and profits for their firm?
Crucially, the continued rise of AFAs reflects clients’ demands for value over billable hours. To stay competitive, law firms must align with clients' focus on value and stand out by showcasing their specific expertise and experience.
For many firms this may require a change in approach, both in how they respond to clients, and how they collaborate internally.
Watch our on-demand webinar to learn more about:
- Highlights from our survey of over 300 law firm decision makers and how changing competition means that demonstrating value is more important than ever.
- How AFAs force business development and pricing teams to collaborate, and how you can breakdown silos.
- How to convey your firm’s unique value to stand out to clients: What is your firm bringing to the table?