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Law firms' cost focus will drive financial innovation in the sector

12 October 2021

The latest research by PwC has confirmed the top three business priorities for legal firms, to improve the use of technology, standardise and centralise processes and improve the service offering, haven’t changed over the last year. But what the pandemic has brought into sharp focus for legal firms across the UK is a desire to reduce costs. In 2019, cost reductions were last on a long list of priorities for firms. Fast-forward to 2020 and it overtook critical challenges including the use of data analytics in decision-making and reducing cyber threats, to become the sector’s fourth priority.

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