The UK Legal Sector is undergoing dramatic changes. In October 2011, the Legal Services Act will make the UK one of the more deregulated legal services markets in the world.
The introduction of the Alternative Business Structure and the Solicitors Regulatory Authority's (SRA) move to Outcome Focused Regulation (OFR) will have a significant impact on the market.
The major changes in the legal market:
Requirement on firms to manage risk and report upon material breaches
Increased competition in the market, with commercialised entrants levering Information systems
Actively differentiate between law firms on their competence in the management of risk.
The White Paper below highlights the impact these changes are having on the Legal Sector and explores how you can use technology to reduce costs and gain competative advantage.
Risk Management in the Legal Sector - White Paper