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Is your legal firm adapting for tighter budgeting this year

Is your legal firm adapting for tighter budgeting this year?

Political and economic uncertainty can significantly reduce clients' appetite for transactional work. Periods of uncertainty can create a challenging environment as clients become more risk-averse and delay decision-making. Law firms that rely on transactional work may need to adjust their strategies and offerings to better serve clients during turbulent times. Stricter budgeting and cost-cutting is often the solution for legal firms looking to stay ahead.

legal firms know how important data analytics is

More analytics, less “just data”

Data, data, data - legal firms have known for some time how important data is in order for their firm to make educated decisions on subscriptions, compliance, spend and to streamline workflows to name just a few. However, the capturing of data alone is insufficient. Without ensuring the correct data has been collected, and that it has been correctly structured and properly analyzed, it will be of no use. How can firms ensure they are making data driven decisions and gaining the most valuable insights?