Keith Bice Discusses How Law Firms Are Responding to the Needs of Corporate Clients
BGD’s Corporate and Transactional practice group co-chair Keith Bice discussed how law firms are responding to the evolving needs of corporate clients with the Indiana Lawyer at the firm’s annual Corporate Law Update. What has not changed, according to Bice, is that client service remains the top priority.
As reported by the Indiana Lawyer, times have changed for law firms and how they are expected to do business with corporate clients. Corporate in-house counsel continues to feel the pressure to increase efficiency and, in turn, outside firms are being proactive in finding efficient ways to adapt to these needs while continuing to provide high quality services quickly, and at a low cost.
“I think that’s the new era of the legal industry,” said Bice during his interview. “Clients are looking for a very high level of service, but they are also looking for it to be delivered in an efficient way.”
This drive for efficiency has brought about new ways of serving corporate clients and has affected firm hiring practices. In order to stay ahead of efficiency demands, big firms are looking at ways to minimize cost while maintaining their quality of service.
One way to drive efficiency and help corporate clients stay current of relevant issues and critical changes is to offer an update seminar. BGD has invited corporate clients to an annual free “Corporate Law Update” seminar for the last several years in both Indianapolis and Louisville. The seminar [is] part of the firm’s effort to serve its customers. Business owners and company attorneys [are] invited to get some practical advice and learn what issues they should be following,” explained Bice.
Cambridge Capital Management Corp.’s executive vice president, Charles Kennedy, and corporate counsel, Amy Thurmond, attended the firm’s recent Corporate Law Update seminar in Indianapolis on May 6. They told the Indiana Lawyer that programs like this help them to stay current and better alert their own clients to issues or changes to watch. “It’s very helpful because these attorneys work with it day in and day out,” Thurmond said of the seminar. She noted the BGD lawyers disseminate the information in a format that is easy to use, which is especially helpful for her company because it does not have a big legal department.
In a very competitive market, being efficient and providing the highest level of service in every category remains the end goal. “I think the push for efficiency is here to stay,” said Bice.