Digital White Papers

October 2014: Business and Financial Management

publication of the International Legal Technology Association

Issue link: https://epubs.iltanet.org/i/395170

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Data Visualization for Legal: Why You Need It and How To Start About the Author Vassili King, MBA is the Pricing Analytics Manager at Bryan Cave, LLP. He leads an innovative team of information technology professionals responsible for envisioning and bringing to life sophisticated systems and tools that enhance and support the firm's pricing, budgeting, management and optimization initiatives. Contact Vassili at vassili.king@bryancave.com. ILTA WHITE PAPER: OCTOBER 2014 WWW.ILTANET.ORG 10 Today's legal market is ever-more sophisticated and complex. The balance of the negotiation power has shifted toward clients, and the downward pressure on legal fees — paired with expectations of better services provided — can't be ignored. Alternative fee arrangements are now a norm, even at large law firms. More firms are now competing for smaller slices of the legal pie. Further, the job market for newly minted lawyers is oversaturated, a situation that is only expected to get worse. Overall, legal professionals find themselves working more hours for less pay. Many law firms and legal departments now see the need to reinvent themselves and become more efficient (both operationally and financially) and more proficient in the business of law. The

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