Are law firms innovating for themselves at the expense of their clients?

This article suggests that clients are not receiving the innovation they want from their law firms. Surprised? No, I didn't think so.

Consider the following though:

So far, top 100 law firm revenues are up 6% on last year, from £3.68bn to £3.9bn

This is slightly down on the 7% increase at the same point last year

However, average PEP this year is up 18% on last year, from £517,937 to £611,562

This is a significant increase on the 3% increase at the same point last year

So firms are finding a way to make their money work harder (much harder) for them.

Contrast this with what clients say they're getting - or not getting - and it seems clear where firms are investing their innovation efforts...

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Clear trends have emerged from this year’s Business Leadership survey. In-house legal teams confirm they are under increasing pressure to deliver more for less but the drive to embrace innovation remains elusive. Has there been a step change in the legal market in terms of the services that clients are being offered? And if so, has there been a similar step change in terms of the services clients are using? Bluntly, the research among in-house lawyers for this year’s Business Leadership Guide suggests the answer to both questions is no.

http://www.thelawyer.com/business-leadership-guide-meet-the-pace-setters/3036467.article