Growing profitability on the back of strong growth in 2021 is a key focus for firms in 2022, and Legal Pricing Teams are at the cutting edge of delivering that profitability. In this article we dig into some of the findings of BigHand’s August 2021 survey on Legal Pricing and Budgeting trends, for which we gathered 800 responses from senior legal finance roles from law firms of 100+ lawyers in the UK and North America.

Specifically, we will look at the survey findings from Pricing Directors to provide insights on their top priorities, including mandated matter budgeting; profit leakage; and embedding a culture of profitability. We also consider steps law firms should take to achieve alignment across the business on pricing responsibilities.