NEW DEVELOPMENTS IN NEW
BUSINESS INTAKE
New
Developments
in
New Business
Intake
by Michael Lowe of HardingLowe LLC
I feel for you, new business intake professional.
Standing between partners and their potential
revenue is like standing between a grizzly and
her cubs. You cannot possibly assess and approve
matters quickly enough, nor can you ask too
few questions to do so. And yet your firm, your
clients and the legal landscape are growing more
complex, increasing the risks you are responsible
for managing. The small firm you first joined is now
a combination of merged firms with offices around
the globe, many practice groups and lateral hires
who do not share your firm's traditional risk profile.
Competitive pressures are generating a larger range
of alternative deal structures that must be approved
and accommodated in downstream processes.
It's time to assess whether your current NBI
capability is appropriate for a modern law firm.
Firms find that improving their NBI results in
reduced risk, increased revenue and happier
attorneys. And, at long last, technology has
developed to the point where it can enable
whatever operating model works best for your firm's
strategy and culture.
