Issue link: https://epubs.iltanet.org/i/13683
ALLISON GUIDETTE THOMSON REUTERS Enhancing Productivity in Litigation T he business of law is evolving rapidly, and many law firms now find themselves scrambling to keep up. Globalization, the recession, expanding volumes of information, client pressures to reduce litigation costs and the adoption of more corporate-like structures by firms are just some of the challenges that are complicating the business of lawyering. SEEKING NEW PATHS TO GROWTH Traditionally, one of the primary means by which firms have “grown” business has been to raise the rates 28 Case/Matter Management ILTA White Paper charged for their services on at least an annual basis. This model provided steady growth and reliable profits for many firms. However, rate growth, as tracked by the Hildebrandt Baker Robbins Peer Monitor Index, has been dropping for more than two years and has slowed dramatically in recent months. Currently, firms are able to negotiate only minimal rate increases at best. To make matters even worse, discounts and collection challenges mean realized rate growth at the individual timekeeper level is basically flat. “Clients are now challenging the notion that how much time a firm spends on a legal matter