The profitability of law firms consolidates its comeback | El Confidencial

“Without M&A there is no paradise”. According to the Law Firm Financial Index (LFFI) prepared by Thomson Reuters, at the end of the second quarter of the year, the profitability of law firms confirmed the improvement experienced in the previous three months.

Íñigo Erlaiz, our managing partner, explains that “We have not wanted to pass on the full impact of inflation to our clients and this has required us to focus on the search for more efficient and productive margins. In this sense, we have applied a host of measures, such as being much more rigorous in the deviations from the budgets we had already agreed with clients; we are looking for much more measured compositions of the teams we dedicate to each matter in order to increase margins without increasing costs; we are fine-tuning the use of technology and automating processes, as I mentioned earlier, and we are transferring work to separate, more flexible and less costly structures”.

 

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