Why Law Firms Need to Adjust Their CRM Strategy to
Increase ROI
Global law firms find themselves at a crossroads. The
traditional silos of business development (BD), client onboarding,
risk management, and matter management are no longer sustainable in
a world that demands efficiency to drive strategic growth. Change
is already happening, thanks to new AI-powered technologies. While
firms scramble to implement the latest AI tools, it's easy for
leaders to overlook something far more fundamental: the bigger
picture of their client relationship management (CRM) and how
technology can create synergies across the entire client
lifecycle.
The CRM Dilemma at Law Firms
The full potential of modern CRM platforms has historically been
overlooked by law firms, despite these tools' proven ability to
support revenue growth with advanced marketing and
BD capabilities. Having engaged with numerous law firm leaders
over the past year, Alvarez & Marsal has uncovered a
