In the wake of BigHand's latest research which gathered insights from over 800 legal professionals across the UK and North America, the relevance of what this data means to the APAC market becomes apparent. A staggering 75% of respondents admitted to experiencing a drop in demand in the past year, coinciding with a persisting crisis of lawyers and support staff attrition. As lawyers seek more equitable work allocation, the concept of "smoothing" has emerged as a viable solution.
It is no secret that some partners tend to rely heavily on their "A-team" for various matters, posing challenges in talent retention. The implementation of a resource management process can help ensure work is distributed based on several factors, such as diversity, equity, and inclusion (DEI), career progression, capacity to handle additional work, and current utilisation levels. This not only makes lawyers feel valued but also results in the best and most efficient service for clients.
According to BigHand's research findings, optimising business processes can significantly contribute to safeguarding profitability. An effective legal resource management system facilitates timely responses to legal matters, minimising delays and ensuring prompt resolution of legal issues. Consequently, this prompt resolution leads to fewer disruptions in business operations and enables quicker recovery from legal challenges.
Additionally, clients are becoming increasingly sophisticated in their understanding of matter pricing, resulting in heightened demands for data to substantiate pricing structures. Providing visibility into the team working on their matter, their utilisation rates, and diversity, equity, and inclusion (DEI) metrics becomes essential in satisfying clients and ensuring their contentment.
Although numerous top-tier firms in the region have either implemented or considered a resource management process, they often face significant challenges in the technology used to facilitate this change. Many firms resort to laborious systems like Excel to understand utilisation, capacity, and work allocation, leading to extensive manual work.
In this context, BigHand's Resource Management solution stands out as a global leader in this space, supporting firms of all sizes with a range of benefits, including:
- Efficient, fair, and strategic work allocation
- Real-time visibility of resource allocation and team capacity
- Showcasing lawyers' skillsets and promoting career development
- Facilitating equitable allocation of work to support DEI goals
- Safeguard profitability by empowering lawyers to resource matters more objectively
- Tracking and monitoring teams' activities to better utilise human resources
While BigHand's technology effectively supports the resource management process, firms often need to secure initial buy-in from senior partners to ensure an effective change management process. BigHand offers the expertise of global experts and consultants to assist firms in developing a streamlined strategy, change management, and process objectives before implementing the technology.
BigHand is committed to helping firms achieve greater efficiency and success through optimised resource management. Reach out to David Lee if you are interested in learning more about resource management and how BigHand support can benefit your firm in the APAC region.
Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of Novum Learning or Legal Practice Intelligence (LPI). While every attempt has been made to ensure that the information in this article has been obtained from reliable sources, neither Novum Learning or LPI nor the author is responsible for any errors or omissions, or for the results obtained from the use of this information, as the content published here is for information purposes only. The article does not constitute a comprehensive or complete statement of the matters discussed or the law relating thereto and does not constitute professional and/or financial advice.