Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
Scenario planning is a term often heard in corporate strategy departments, but rarely echoes around the boardrooms of UK law firms. It is, in essence, a strategic planning tool to help organisations manage uncertainty, and if there is one profession that is definitely facing uncertainty now, it’s the UK legal services market.
With the unprecedented harsh economic conditions showing no immediate signs of easing, law firms, rocked by the last five hard years with minimal or negative growth, are often shifting into survival mode. Having taken the short term actions to cut costs, management are often looking at the next six months and asking very tactical, pragmatic, short term questions about finance and cash flow, what are the merger possibilities, how can they retain their big billers and how do they manage partner expectations.
Against this backdrop, suggesting that lawyers look ahead to 2025, as the Law Society has done, may seem indulgent in the extreme. Yet if we take a step back, many of the challenges in the current environment have their roots outside the current fi
Free trials are only available to individuals based in the UK
* denotes a required field
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial. See our full terms here.
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234