2003 WINNER
Gareth Pearce of Smith & Williamson (left) with Tony Layton of Words&Pictures
Some accountancy firms are strategically
coherent in their growth plans. Others embrace
broad, deep, even radical change. Firms that do
both are breaking the mould. Smith &
Williamson is just such an organisation, having
merged with an investment firm, while
successfully separating its audit from its
non-audit practices.
They have focused on how to develop rich new
opportunities in light of regulatory changes.
Real marketplace intelligence drives strategic
marketing – the firm posted an impressive
business growth of 43% in the year to
April 2003.
At the same time, it is an unmatched equal
opportunities employer, including in its ranks the
highest proportion of female directors among
the Top 10 UK accounting firms.
RUNNER UP
Many law firms invest heavily in technology. Some do so in ways that increase service quality, reduce costs, and, as a result, drive business growth. But it was The PSM Law Group that broke all moulds because this was the firm that set the standard for client-sensitive automation – and, having set that standard years ago, continues to raise the bar in terms of quality and efficiency.
While other firms were still thinking about PCs, the PSM Law Group was thinking about networks. When other firms started thinking about networks, PSM used those networks to create true knowledge management, which means, among other things, that all its systems, affecting all its businesses, are embedded with the new technological efficiencies that have been implemented over the years.
The Return-on-Investment has been impressive, as the technology has motored geographic expansion for the PSM Law Group across Scotland, Northern England, and Wales, at the same time helping ensure the immediate integration of those offices. Bottom line: a turnover growth record of 300% over the last 4 years!
3RD PLACE
The Lovells “Mexican Wave” initiative typifies how one large law firm can break the mould by using technology to differentiate itself from other large firms.
Where many large firms are disincentivized, or only vaguely motivated, to save on pass-through expenditures, Lovells has made substantial reductions in costs for clients an integral part of how the firm’s lawyers do business. The system is easy to use at the same time as it offers a high level of security. Where other large law firms might adopt efficiency measures as experiments involving stand-alone practice areas, over 70 lawyers throughout Lovells are currently part of the Mexican Wave.
As a result, more work is typically delegated downward to the lowest qualified timekeeper, while partners are freed up to concentrate their time and skills on more complex and challenging work.