This article appeared in Accounting and Financial Planning for Law Firms, an ALM/Law Journal Newsletters publication covering all financial aspects of managing law firms, including: building a law firm budget; rates and rate arrangements with clients; coordinating benefits for law firm partners; and the newest strategies to grow your firm and your career.

Outsourcing is on the rise. According to Deloitte, there's an increasing shift to leverage outsourcing driven by learnings from COVID-19, which is to capture the value which outsourcing models bring: increasing efficiency, reducing costs, and driving greater business value. (See, Deloitte 2021 Shared Services and Outsourcing Report.)