Maurice Tunney at Keystone Law on the agility advantage of using NetDocuments
Maurice Tunney, director of technology and innovation at Keystone Law, explains why a firm disrupting the market, and with plans to keep growing faster in future, needed NetDocuments to do so efficiently and safely.
Keystone Law is a firm with a clear track record in turning the pursuit of ‘doing things differently’ into results. A pioneer of the agile-working model – harnessing technology to enable flexible working to be more rule than exception – in November 2017 it also became the third UK law firm to decide to list on the London Stock Exchange, with all that entails. And in its marketing the firm appeals directly to those who want to improve their work/life balance by dispensing with many of the trappings of the traditional law firm.
In the first full year post-IPO, revenue hit £42.7m. Now, for the six months ending 31 July 2019, it recently announced 15.3% and 15.4% rises in revenue and profit before tax respectively – and a ‘special dividend’ of 8p per share. At the same time, total lawyer headcount increased by 34 (27 of whom are ‘principal lawyers’ – business-owning lawyers), and it has taken on a second floor at its London HQ to meet associated increased demand for client meeting rooms and desk space, including hotdesking facilities. Around 300 of the firm’s lawyers are self-employed – having access to this space and keeping a share of the revenue they generate from anywhere they happen to be – and they’re supported by a smaller central team, which includes, of course, business services.