News Feed Item

Law Firms Spending $5 - $10 Million on Business Development

Survey Shows AmLaw 200 Firms Using Library and Marketing More Strategically

LOS ANGELES, Oct. 1, 2015 /PRNewswire/ -- A sampling of U.S. law firms by LAC Group, creator of Library as a Service® and a leader in library outsourcing and other services for law firms, shows that firms are investing heavily in competitive intelligence and market research.

Findings are summarized in the report, "Teamwork on the Legal Frontline – The Strategic New Roles of Marketing and the Library in Big Law". This free report offers insights into how law firms are leveraging their library and marketing department to optimize business development and client retention efforts:

  • Firms are investing big in business development, with 42% spending between $5 – 10 million on staff, resources and technology.
  • 80% of firm librarians indicate that the research workload has increased while staffing has decreased in the past three years. To meet shortfalls, 60% use outsourced or contract staff.
  • Competitive Intelligence is where the library and marketing departments converge, with over 57% sharing responsibility for business development work.

View and download the full report at https://lac-group.com/teamwork-on-the-legal-frontline/.

LAC Group surveyed sixteen AmLaw 200 firms with global coverage to better understand the transformation of the legal industry and what these changes mean to law firm libraries and marketing departments. Participants included C-suite executives, managers and professional library and marketing staff. The purpose was to identify best practices, skill gaps, optimal staffing levels and changing needs for law firms today and looking into the future.

LAC Group has worked with large law firms for over 25 years.


LAC Group enables organizations to secure the information talent and knowledge services they need for their knowledge and information centers, from permanent staff to temporary projects to fully managed outsourcing, generally onsite and intact at the client facility. LAC Group is the creator of Library as a Service®, an innovative platform delivering on-demand access to skilled researchers and other information resources. Visit lac-group.com for more information.


LAC Group Press Kit

How to Enhance the Value of Law Library Services
Patrick Gleason, Esq. and Vice-President, Chase Cost Management division of LAC Group

Library Outsourcing Business Drivers, Goals and Success Factors

Deborah Schwarz, CEO and President, LAC Group


80% of Big Law librarians indicate research workloads up, staffing down in past 3 years. https://goo.gl/KqKUfE

Competitive Intelligence is where law library and marketing staff converge - 57% share BD role. https://goo.gl/KqKUfE

Law firms investing in staff and other business development resources. https://goo.gl/KqKUfE

Survey shows law firms spending between $5 – 10 million on business development. https://goo.gl/KqKUfE


Website:     www.lac-group.com 
Facebook:  www.facebook.com/LACGroup 
Twitter:       http://twitter.com/lac_group 
LinkedIn:    http://www.linkedin.com/company/lac-group 
Google+:    http://plus.google.com/+Lac-group/about 
Instagram:  http://instagram.com/lac_group/


John Fox
(408) 840-3692


To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/law-firms-spending-5--10-million-on-business-development-300152214.html


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...