This white paper looks at how law firms have often viewed customer relationship management (CRM) software as a way to simply manage contacts and marketing lists. But a shifting market backdrop that is shaking up how law firms need to interact with clients means the traditional definition of CRM increasingly stands in the way of productive business development and revenue growth.
For starters, in-house legal teams facing increased cost pressures are passing this onto their legal providers, reducing their panel sizes to increase competition and, in some cases, even unbundling their legal projects to distribute components to disruptive new service providers that are highly cost-efficient.
Client expectations are also changing as technology broadens the ways and speed at which people can communicate. Clients want their law firms to be more responsive and open. They want faster access to information. They want new ways to engage with lawyers. And as clients expand globally, they also expect a seamless, uninterrupted service across different timezones.