Preeminent LLP, a leading U.S. class action law firm ranking nationally, in nine practice areas, sought P&C’s guidance to streamline their operations and prepare for the next phase of expansion. Building upon decades of landmark legal victories and unrelenting advocacy for their clients, they asked P&C to refine their practice mix, improve the usefulness and clarity of financial reporting, and assess key leaders of core business functions across the Firm.
ROI in Multiple of Fees
The Firm’s Executive Committee sought P&C’s insights and recommendations on the following topics:
P&C proposed an integrated approach to address the Firm’s questions and goals:
Responding to Preeminent LLP’s ambition to rapidly transform their business and prepare for the next phase of growth, P&C designed and executed a series of three initiatives spanning the full spectrum from strategy through implementation:
What appeared as a large undertaking became a very successful rejuvenation that will continue to yield benefits for the Firm and their clients. Preeminent LLP identified clear priorities for investment in practices and offices, and shifted staff and other resources accordingly. A new office was launched to expand the Firm’s reach to all key markets nationwide while also enhancing brand image and industry position. The Firm also embarked upon a public relations campaign to highlight its successes and capabilities with target audiences.
P&C led vendor selection, build-out, implementation, and training for three new platforms that transformed how the firm manages all expenses including vendors, employees, and client cost recovery – savings millions of dollars of annual costs and gaining millions of dollars of additional recoveries. These integrated platforms will reduce manual labor and waste and increase profitability for every practice. It also launched replacement efforts for document management and eDiscovery, and articulated a longer-term roadmap to upgrade the core practice management and financial system.
Additionally, P&C created and implemented a dashboard analytics platform that provides key decision makers with clear, actionable financial insights.
Preeminent LLP’s transformation rapidly accomplished all goals, delivering an impressive 515% return on investment in multiple of P&C fees over 11 months.
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