70% |
85% |
44% |
of firms expect increased write-offs, squeezing margins | of firms face pressure for greater financial transparency | BI adoption jumped from 16% to 44%, improving realization |
Despite strong revenue growth, law firm profitability is under pressure from rising lock-up, increased discounting, and declining realization rates.
This summary takes the most essential insights for legal finance leaders from our Annual Law Firm Finance Report, and offers strategic actions needed to combat profitability challenges in today's competitive legal market. Download now to discover ways to strengthen financial acumen, reduce profit leakage, and align incentives to protect your firm's financial health.
BigHand conducts this research to help businesses uncover actionable insights that drive smarter decision-making. With BigHand Business Intelligence, you can take these insights further by transforming data into meaningful actions to optimize performance and achieve your business goals.