The legal industry is grappling with unprecedented new dynamics. A rising demand for legal services of all kinds and a critical shortage of talent has corporations increasingly turning away from their traditional services providers. Instead, they are seeking smaller law firms and alternative legal services service providers (ALSPs) who can provide better value, lower costs, and improved service levels. These providers represent a more agile, higher level of service-based economy—one based on creativity, a deep understanding of client needs, and a true representation of client value.

We can assume reputable legal services providers— regardless of whether they are a law firm or an ALSP—will adhere to high professional standards and work hard to achieve the best possible outcomes for their clients. But knowing exactly how they do this and what it costs has become a high priority for their clients. Consumers of legal services now expect faster, more human, and more innovative interactions with their legal providers. They also know that, if needed, they can find what the value they’re looking for elsewhere because of the healthy competition that now exists within the legal ecosystem.

Originally published in Peer to Peer, ILTA’s quarterly magazine.

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