As highlighted by a recent PwC survey, international expansion is becoming a strategic priority for many large law firms. Firms embarking on this approach must have the ability to adapt their business practices to simultaneously meet the diverse requirements of local and international markets efficiently and within the regulatory boundaries.
Law firms need the ability to deliver against organisations’ global procurement strategies. To negotiate the best terms for themselves and their clients, law firms require accurate business information spanning the entire business, practically in real time.
An enterprise-type approach to profitability is essential. To this end, accurate pricing requires allocation of the most appropriate resources to matters without compromising on quality. A project management-led approach to the lifecycle of legal matters is also important. In addition, a common methodology for determining profitability across regional operations is critical. Firms need the ability to ascertain the effect that utilisation, realisation, leverage and cost allocations have on their profitability and performance.
The compliance challenge is ever growing. Firms must adhere to evolving country-specific and wider international regulations. At an operational level, firms require standardised management reporting structures to ensure that all legislative responsibilities are met with.
A robust technology platform facilitates all this and much more. It enables a structured approach to business based on globally recognised practices while delivering the agility to respond to new market developments and opportunities. Our business management system, Nimbus, is designed to facilitate this, enabling firms to operate seamlessly across borders as single business entities.