Briefing 5P 2020 webcast: Building an effective data-driven approach to pricing, with Intapp
From training and development to investment in technology, how are leading law firms making best use of their historic data to improve the future pricing of work internally and communicate outcomes and challenges with clients more effectively?
In this Briefing 5P 2020 webcast, the magazine’s editor-in-chief Richard Brent is joined by the pricing director of Eversheds Sutherland Annabelle Smith, head of client engagement at DAC Beachcroft Rebecca Richter, and practice groups leads for the marketing and business development and the finance and operations practices at Intapp, Gareth Thomas and Alan Conway, to consider the central roles of reliable, accessible data and business discipline within a joined-up pricing strategy.
Annabelle and Rebecca give examples of priorities and initiatives they are overseeing at their respective firms, and the group discusses a broad range of factors including:
- The information that matters most for building more accurate fee estimates, and how firms can set about trying to capture more of it in order reach more data-informed decisions.
- Routes to developing more confident and meaningful conversations about pricing options and process with clients, and the value of complementary skills such as data interpretation in the equation.
- How lawyers also need to rely on other roles in the business to play their own parts, and collaborate in order to price work more commercially.
- The potential for technology, such as machine learning and analytics, to improve pricing performance.