Facing the future – Clifford Chance's strategy looks promising, but it mustn't forget the basics
Firm puts innovation at the heart of its vision
January 23, 2015 at 05:09 AM
3 minute read
Globalisation, technological and demographic change and new working styles mean clients and law firms alike are under more pressure than ever before to overhaul their businesses. Against this backdrop, a little crystal ball gazing from managing partners to reshape their firms to fit this new world order is only sensible.
This week was the turn of Clifford Chance managing partner Matthew Layton to set out a long-term strategic plan. As a vision it makes a lot of sense; after all, it would be fairly worrying if the firm did not intend to be a leading global legal adviser both now and in the future.
But what is perhaps more interesting is how the firm intends to get there. Key to Layton's mission statement is innovation across all aspects of the business, with a particular focus on operations and legal process. By bringing in a new chief operating officer to look after the firm's 3,000-strong back office function and appointing a partner in charge of innovation and business change, Layton is putting out a clear message about how he believes CC can gain competitive advantage.
Perhaps it stands to reason that, in a market where technical legal skills should be a given at the leading commercial law firms, it is the non-legal aspects of the business that need a little more attention. Looking to recruit experts from outside the legal sector to fill senior operational roles – as Layton has done with the hire of ex-Accenture management consultant Caroline Firstbrook as COO – also makes sense. All of the world's top international law firms are grappling with the challenge of making their sprawling networks work more efficiently – and it isn't remotely easy. But, as CC well knows, some innovations can quickly be replicated and indeed improved upon by others, meaning first-mover advantage can evaporate relatively swiftly.
One example of this is the emergence of the UK as the preferred location for lower-cost legal centres, rather than cheaper but distinctly more exotic countries such as India, where CC's own centre has been located for nearly a decade.
Layton and his team will need to ensure that CC does not lose sight of the basics during its drive to foster operational efficiency and innovation. As Legal Week Intelligence's Client Satisfaction Survey finds, clients still value technical legal skills above everything else. No amount of operational efficiency will ever replace fast and accurate legal advice from partners with strong client relationships and market-leading reputations.
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