Successful Merger Integration for Law Firms - Bookswagon UAE
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Successful Merger Integration for Law Firms

Successful Merger Integration for Law Firms


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About the Book

Managing Partner's Successful Merger Integration for Law Firms report will show you how to implement an effective business integration strategy to ensure you secure the results you set out to achieve. Renowned legal management consultant Jeff Gillingham examines the key challenges of merger integration and provides critical guidance on how to: *Overcome irritating, but key issues such as partner ownership value; *Use the merger as a tool to build a sustainable delivery model; *Lead and plan successfully for a merger integration - the 7 key phases; *Ensure management continuity to avoid delays and disruption to the business; *Develop an effective communication plan - internally and externally; *Integrate people, IT, knowledge and remuneration structures; *Ensure that clients are not affected during the business integration period; *Put in place a high performance culture through a solid talent retention strategy; *Realise your planned cost savings and revenue improvements; and *Avoid disruption through the development of a risk mitigation plan. Gillingham provides an in-depth look at financial forecasting and budgeting both during and after a merger, demonstrating how your firm can go about maintaining crucial revenue growth. Post merger early wins and quick hits are also discussed in detail as a method of maintaining momentum and providing assurance for key stakeholders early on. You will also find useful appendices within the report, including: A business plan template for the new firm; A practical framework for cascading tactical plans down to departments; A detailed internal communications checklist; and A case study of the successful integration strategy of SNR Denton.

Table of Contents:
Chapter 1: Back to basics - Why did you merge?...1 Reason one - Economies of scale...1 Reason two - Cross selling ...2 Reason three - Entering into new markets...3 Reason four - Increasing capacity...3 Reason five - Partner ambitions...3 The performance measurement exercise...3 Chapter 2: Did you structure a good deal?...5 Chapter 3: Merger integration leadership...9 The new firm's vision and values...9 A communications plan...10 The new organisation structure...10 Cost savings and redundancies...11 The culture...11 Revenue protection...11 Chapter 4: The management structure - Maintaining continuity...13 Appointing management...14 Chapter 5: The seven phases of a merger integration plan...17 Phase one - Documenting the merger agreement...17 Phase two - Project set up...17 Phase three - Analysis and design...18 Phase four - Preparing staff...19 Phase five - Integrating business units...20 Phase six - Implementation and integration...21 Phase seven - Stabilisation...21 Chapter 6: Stakeholder management...23 Identifying stakeholders...23 Prioritising the stakeholders...23 Understanding the key stakeholders...25 Barriers to implementing mergers...25 Chapter 7: Internal communications planning...27 The ultimate question - How will it affect me?...28 Chapter 8: Client relationship management...29 Tailoring the communications plan to your client categories...30 Making sure the client is happy is key...31 Chapter 9: Realising quick hits and cost reductions...33 Banks...33 Insurance...34 Telephone and communication costs...34 Gas and electricity...34 Equipment and software maintenance...34 Office cleaning...34 Accountants and auditors...35 Library and subscriptions...35 Avoiding delays...35 Longer-term savings...35 Chapter 10: Shimmering into a new delivery model after a merger...37 Chapter 11: People and talent retention post merger...39 'Backbone stars'...40 'Worker stars'...40 Maximising the retention figures...41 Leadership communication...42 Financial incentives...43 Chapter 12: Financial forecasting and budgeting during and after a merger...45 Creating a new fee structure...45 Utilisation rates...45 Recovery rates...46 Client payments...46 Revenue forecasts and budgets...47 Cost forecasts and budgets...48 The balance sheet...48 Profit and loss (P&L)...48 Cashflow...48 Successful Merger Integration for Law Firms Chapter 13: Revenue growth...51 Existing business...51 New business...51 Fee-earner headcount...52 Reorganising the fee scales...52 Work mix...52 Maintaining growth after the merger...52 Chapter 14: Branding, sales and marketing...53 Chapter 15: Office infrastructure...55 Chapter 16: Integrating the information systems - A key success factor...57 IT & T staff...58 Applications software...58 Proprietary software...58 Home-grown software...58 Hardware...59 Terminals and devices...59 Network and communications...59 Data management...59 The website...59 Chapter 17: Risk and compliance post merger...61 Law firm merger integration risk sources...62 Law firm merger integration risks...62 Case study 1: SNR Denton - Why a merger made sense...61 The birth of SNR Denton...65 The drivers of the merger...66 The structure of the merger...66 Are we there yet?...67 Communications and people...68 Lessons to glean from this merger...68 Appendix 1: The business plan template for the new firm...71 Appendix 2: Cascading tactical plans down to departments - A framework...77 Appendix 3: Internal communications during mergers...79 Index...83

About the Author :
Jeff Gillingham is a founding member of Allegretto International AG which is based in Basle, Switzerland. He is a consultant specialising in law firm mergers and law firm productivity, business development, process improvement, change management, outsourcing and shared services. Jeff previously worked at PricewaterhouseCoopers (PwC) where he was part of the global leadership team that developed the business process outsourcing model. Relocating from Australia to South America and then to the UK and Europe, he led service divisions in each continent. Prior to this, Jeff was the European CEO of a PwC professional services company with a turnover of US$130m. His prime focus has been on the financial and legal sectors, advising on company and organisational realignment through best practice and benchmarking. Jeff has extensive experience in developing markets and managing business units. He is an accomplished leader of people, having led both large teams of staff in shared service centres and small teams of highly-skilled specialist consultants. Jeff is the author of The Art of the Law Firm Merger, published by the Ark Group in 2009 and A Practical Guide to Setting Up and Operating a Shared Service Centre, published by the International Financial Services District Glasgow in 2005.


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Product Details
  • ISBN-13: 9781907787515
  • Publisher: Globe Law and Business Ltd
  • Publisher Imprint: Ark Group
  • No of Pages: 83
  • ISBN-10: 1907787518
  • Publisher Date: 21 Apr 2011
  • Binding: Paperback


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