Predict your next investment

Changeis company logo
BUSINESS PRODUCTS & SERVICES | Consulting & Outsourcing / Management & Strategy Consulting
changeis.com

See what CB Insights has to offer

Founded Year

2008

About Changeis

Changeis is a consulting firm that specializes in the areas of strategy and transformation management, investment analysis and acquisition management, governance, and more.

Changeis Headquarter Location

1530 Wilson Boulevard, Suite 340

Arlington, Virginia, 22209,

United States

Latest Changeis News

Survey Shows Increase In Demand for Cost-Effective Resourcing

Jul 27, 2021

Law firms are experiencing higher client demand for work to be completed by the most cost-effective resource, but with manual reporting on key support KPIs still at large, how are firms meeting expectations? Earlier this month, BigHand released the largest ever piece of global research into legal workflowmanagement. With over 900 responses across senior Operations, HR, SupportServices, Resource Management and Practice Group Leaders, from firms of 50+lawyers in the UK, North America (NA) and APAC, the industry report offers anaccurate view of the state of legal workflow management globally. Increased pressure for work completed atthe right level One of the key findings from the report wasthat law firm clients are increasingly demanding that work iscompleted by the most cost-effective resource. 75% of North American firms and 67%of UK firms confirm that they have witnessed this expectation from clients, andover half of respondents in each region went on to confirm that the pressurehas increased since the pandemic began. What are firms doing to counteract this? Thesurvey shows that three quarters (76%) of NA firms and two thirds (66%) of UKfirms are encouraging lawyers to delegate legal support work to the mostcost-effective resource available – although how firms are effectivelymonitoring this is dubious. There is still areliance on manual monitoring of key KPIs such asthe volume and type of support tasks, capacity and utilization of support staffand turnaround times. Almost half of NA (48%) and UK (43%)firms are manually monitoring some factors (e.g. manually updating excel files, monitoring inboxes, or dedicatedresources distributing and monitoring work). Manualmonitoring does not provide real time information – and it is not alwaysaccurate. Data is often out of date by the time reports are completed,minimizing the value of the information. In addition, manual monitoring isvirtually impossible when individuals are working remotely. Withoutthis insight, how are firms going to demonstrate their commitment to meetingclient expectations for cost transparency and tasks being undertaken byindividuals at the right level? Are firms being forced to subsidize clientactivity due to the lack of information and cost visibility? Even if this isthe case, without the ability to provide cost transparency, there is a riskthat client confidence and relationships could be compromised. Automated reporting on the volume and types of tasks, support staff capacity and utilization and the speed of turnaround has become a fundamental component not only of effective hybrid working but also of enhanced client experience with faster turnaround times and confidence that the right resource is doing the right work at the right cost. Facilitatinghybrid working Thereport also raises questions about the management of legal workflow in a hybridworking environment, with 30% of NA firms and 35% of UK firms citing concernsregarding the need for lawyers to undertake more administrative work instead ofdelegating to support staff. These findings are supported by the fact that 78%of NA firms, and 70% of UK firms reduced support staff headcount / hours eithertemporarily or permanently. The research reveals billablehours have been impacted, with 47% of NA firms and 56% of UK firms confirmingthey had stayed the same or decreased. The stats suggest that this reduction inbillable time has been caused by lawyers having to spend moretime on low value work dueto having less support staff and a lack of good processesfor allocating work to the right resources when everyone is working remotely. In both NA (61%) and UK (50%), support staffhave been utilized less during the pandemic. Changeis on the agenda Firmsrecognize the need to support this rapidly evolving support model, with 45% ofNA firms and two in five (40%) of UK firms planning to implement workflowtechnology over the next 24 months. In addition, 52% of NA firms, 37% of UKfirms are prioritizing facilitating hybrid working for support staff as apriority. Morethan a year of extraordinary change has accelerated many of the trends thatwere already gaining pace within law firms. Yet as this research confirms,while both fee earners and support staff widely welcome the introduction andcontinuing of hybrid working there are several issues that firms need toconsider. Timing is key – firms in all sectors have managed the difficulties of the past year because individuals have pulled together and found ways to collaborate wherever possible. As hybrid working becomes business as usual, firms need to rapidly transition to an operational structure that provides consistent, efficient support to all lawyers and, thereby, clients – creating a legal support service that is truly fit for a post pandemic economy should be the number one priority. You can access the full report on BigHand’s website here . [ Artificial Lawyer is proud to bring you this sponsored article by BigHand . ] Share this:

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Changeis Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Changeis Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.