Posted May 16, 2013 05:20 pm CDT
Trevor Faure, Global Leader of Legal Services for Ernst & Young, tells Bloomberg Law’s Lee Pacchia that general counsels at large corporations are looking for four things from the law firms which represent them: professional telepathy, professional prescience, exceptional client service and cost efficiency. “But please note, [cost efficiency] will be fourth, after delivering and bringing the first three,” Faure says.
Law firms who want a large corporation’s business should keep abreast of all developments in that corporation’s industry, and deliver a “bespoke, very precise message to that GC” which anticipates legal challenges which the business will soon be faced with, says Faure. “[A law firm’s] technical expertise on your subject matter…is of equal importance to [its] knowledge of the client.”
How can law firms afford to do this? Faure gives Pacchia his suggestions on how to deliver this kind of personalized service.