Legal support services consulting firm Mattern & Associates, LLC (matternassoc.com) has provided predictions about what cost recovery will look like for the legal industry in 2015 by examining the trends and practices revealed in the 2014 Cost Recovery Survey results.
First conducted in 2004 and recently featured in ABA Journal, the bi-annual Cost Recovery Survey performed by Mattern & Associates is an industry-recognized and trusted source for law firms to compare their performance in the recovery of costs to that of their peers in multiple areas.
Examining the 2014 survey results, which explored traditional, modern, and emerging cost recovery areas; industry trends predicted by Mattern & Associates for 2015 include:
• The copy/fax model will continue to die
• The biggest facet of recovery will most likely be the print/scan cost recovery
• Hard costs will continue to be the leader while net realizations of soft costs continue to erode
• There will be a substantial increase in electronic data storage
• The percentage of firms implementing alternative methods of recovering soft costs will continue to rise
Over the last eleven years, the Mattern & Associates Cost Recovery Survey has drawn broad participation from the nation’s most distinguished, top tier firms. The Survey results year after year incentivize growing participation as the detailed results are broadly viewed as an invaluable and decision-making tool. Legal industry leaders have described the Mattern & Associates Survey as, “The most comprehensive snapshot of cost recovery trends and practices available in the legal field.”
Rob Mattern, President of Mattern & Associates, says, “We saw many interesting industry trends and practices emerge from the 2014 Cost Recovery Survey results and we predict a number of these trends will continue into 2015. We look forward to conducting this year’s survey to once again provide law-firms with a valuable and concrete decision-making tool.”
If you are interested in receiving an overview of the 2014 Mattern & Associates Cost Recovery survey or keeping up to date with updates on the 2015 Cost Recovery Survey, please contact Lisa Schneider of Mattern & Associates at lschneider@matternassoc.com.
About Mattern & Associates
Mattern & Associates assists law firms in developing an unbiased strategic direction for their business processes while improving both the cost-effectiveness and the recovery of expenses for these services. For more information on Mattern & Associates, visit matternassoc.com, check out their blog, www.matternoffact.com, or follow them on Twitter @MatternOfFact. The company is based in Glen Mills, Pennsylvania.
