Mattern recently attended and presented at Thomson Reuters’ 22nd Annual COO & CFO Forum in Washington, DC. As usual, it was one of the better events that we sponsor and encompasses a wealth of great speakers presenting on a multitude of topics.
A perennial favorite is the keynote session, “The State of the US Legal Market” presented by Jim Jones, Senior Fellow, Center for the Study of the Legal Profession Georgetown University Law Center and Greta Rusanow, Managing Director and Head of Advisory Services at Citi Private Bank Law Firm Group, which, as the title suggests, provides an overview of the US legal industry.
According to the data presented by Jim and Greta, here are the seven areas that law firms will be focused on in 2024.
- Redesign the professional staffing model
- Use technology to further improve legal service delivery
- Reduce office space
- Improve the collection cycle
- Manage expenses more carefully
- Increase cross selling
- Enhance matter and client profitability
Here’s the thing: when it comes to redesigning administrative models, Mattern is the market leader. Mattern has been setting the gold standard in law firm operations for 25 years, and no consultancy brings more insights, expertise and demonstrable success in helping firms achieve successful admin support models than the team at Mattern.
Company President, Rob Mattern, spoke about this during the Forum at our Friday Partner Talk, “Gold Standard: How to Build a Successful, Cost-Effective Support Model,” where he walked attendees through just some of our data which shows—even for firms that have restructured – most firms are dissatisfied with their support model, and most firms’ costs are spiraling outwards and onto their most expensive resource, their attorneys.
Law firms have become increasingly expensive to operate, and so it is not surprising that in the face of increased associate salaries and lengthening collection cycles, firms also need to focus on managing expenses more carefully.
Mattern’s leadership in strategic expense reduction is unsurpassed, and that’s because expense reduction in law firms cannot be just a cost-savings exercise. There’s too much at stake in terms of the firm’s culture and future objectives – and that’s why our renowned process is pivotal to success. I wanted to share an article on Expense Right-Sizing from earlier this year.
When it comes to your firm’s cost areas including administrative support,
outsourcing, records and information governance, and legal research, no other consultancy offers law firms more industry expertise and insight and proven success rates than Mattern.
Let’s set a time to see how we can help you with your firm’s goals for 2024.