International legal pricing experts Validatum® and the international trade organization for legal procurement, Buying Legal Council®, have today announced a ‘game-changing collaboration’ with the launch of the New York and London headquartered Legal Pricing Academy.
Responding to rapid growth in demand from law firms for senior professionals with demonstrated pricing knowledge, experience, and expertise, the Legal Pricing Academy offers three tiers of Legal Pricing qualification: Certified Legal Pricing Associate, Certified Legal Pricing Specialist, and Certified Legal Pricing Professional.
The professional development pathways will provide pricing, business development, finance and other professionals in law firms who are required to take a pricing leadership role in their firms, with frameworks for pricing innovation, pricing governance, academic and practical knowledge and skills, increased recognition of the importance and status of legal pricing professionals, and competitive employment advantage.
Richard Burcher, co-founder of the Legal Pricing Academy said: “Over the last 10 years, the importance of pricing sophistication has become increasingly apparent to most law firms. What those firms have discovered however is that there is a dearth of relevantly qualified, skilled and experienced people that also have a sound working knowledge of the unique characteristics of the legal sector. Along with our advisory board comprising some of the most experienced and knowledgeable legal pricing professionals in the world, we are the only organization that is well placed to credibly address that skills gap”.
Silvia Silverstein, co-founder of the Legal Pricing Academy said: “A collaboration between two leading international organizations that are on opposite sides of the pricing conversation may not seem obvious. But it is a very welcome opportunity to help mold the narrative around an aspect of the relationship that doesn’t need to be characterized as a zero-sum game. For there to be constructive engagement between law firms and their clients around this challenging aspect of the relationship, there needs to be a better understanding by both parties of each other's world. I am thrilled that the Buying Legal Council and Validatum® are working together to advance the quality of the conversation.”
There are multiple constituencies within law firms that have an interest in pricing including partners in practice group leadership roles, finance, business development, marketing, learning and development, and related professionals.
Gareth Guyers, Regional Billing Manager at Milbank’s Singapore office, and an early student of the introductory Certified Legal Pricing Associate topics, who is ambitious about developing his law firm pricing career, recently commented: “This course has elevated my learning and career and I highly recommend this to anyone! Richard was able to deliver his years of knowledge and experience in the legal profession in a fashion that was thorough but not overwhelming to someone like me who is just starting out in the legal pricing world. The content was clear and concise and demonstrates a holistic feel to the world of both pricing and procurement which helps the student to connect the dots and understand legal pricing in a much broader context.
I recommend this course to anyone whether they are starting out in pricing and want to expedite their learning or if you want to feel reenergized about the ever-evolving world of legal pricing/ procurement.”
The Legal Pricing Academy three-tiered qualification framework enables law firm professionals to pursue their pricing development on their own time, at their own pace and to a level that they determine, whether that is simply a ‘light touch’ introduction to some of the key concepts or whether they aspire to the pinnacle of Certified Level Pricing Professional, leading the pricing function in a large international law firm.
For more information, please visit www.legalpricingacademy.com.
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