Hi all – I am just returning from the LMA’s recent P3 Conference held in Chicago over the last two days. The event was excellent in every regard, with upwards of 300 colleagues in attendance. The theme was project management, pricing, and process improvement. The sessions were highly informative, and the networking opportunities were tremendous.
P3 attendees form a very strong and motivated social network. The mutual exchange of ideas and experience on topics such as matter profitability, gradually shifting the “old guard” culture away from the all-mighty billable hour, and non-traditional pricing strategies was extremely informative.
DFTech had a chance to discuss best practices in profitability analysis with a group of about 50 attendees. Each firm is unique in this, but virtually everyone wants to better understand what other firms do. With a little time and effort up-front to determine a firm’s requirements for revenue credit and cost allocations, including overhead and partner compensation, our clients can have ready access to profitability data via multiple tools and at any level in the firm. Our solutions allow our clients to tailor legal industry best practices to their needs, and to easily shine a light (brightly or dimly – your choice!) on key firm profitability metrics.
Thanks to the folks at LMA, and to all the attendees, for a great event.
Dan Whelan, GM, DFTech