Outsource Magazine Issue 34 - (Page 94)

LEGAL VIEW HOW OUTSOURCING CAN CHANGE THE LEGAL PROFESSION The UK legal sector is experiencing tumultuous times - and at present many firms just aren't equipped to survive. So what's the solution? Viv Williams, 360 Legal Group Viv Williams is CEO of 360 Legal Group and an M&A specialist within the legal sector. He is a regular speaker and columnist, and is also the chairman of OchreSoft Technologies T he perfect storm which has turned into a tornado for many law firms is leaving the 11,000 practices having to decide what the future holds for them. Can a traditional practice survive all these pressures? The answer is most definitely yes if a law firm can change their structure and approach managing their practice with more corporate governance. Outsourcing will become an essential part of this ❛WHY WOULD YOU EMPLOY ADDITIONAL STAFF AND INCREASE YOUR OVERHEADS WHEN MAINTAINING THE SERVICES YOU OFFER? ... THE CONSOLIDATORS ARE HOVERING ❜ strategy with many firms adapting towards a more flexible approach towards their people and services. We now have over 27 per cent of the profession incorporated as limited liability companies which has a dramatic impact on taxation but more importantly creates a succession and exit strategy for the existing partners. It also creates a suitable vehicle for potential external investment where many firms will need to consider their best "You must obey the law, always, not only when they grab you by your special place." - Vladimir Putin 94 ● ●●●● www.outsourcemagazine.co.uk http://www.outsourcemagazine.co.uk

Table of Contents for the Digital Edition of Outsource Magazine Issue 34

Challenges and Champions
Outsourcing in a Troubled Economic Environment
Richard Jones
High Stakes
In Transition
The Bigger Picture
Numbers, Numbers Everywhere...
NOA Round-Up
Struggling To Get Through?
International Commercial Disputes In Outsourcing Agreements
Is Infrastructure Necessary?
Global Freelance Platforms Grow Up
Trumping Price – Only with Best value
Kerry Hallard
Technology Investment in 2014
Water Will Always Find A Way
The Right Time Is Now
You, Robot?
The Legal View
Top Ten
NelsonHall Round-Up
Online Round-Up
The Deal Doctor
Inside Source
The Last Word

Outsource Magazine Issue 34