New BigHand survey reveals an ongoing disconnect: clients want budgets and financial transparency, but most law firms providing. There’s an obvious opportunity here that’s by and large being missed.

Key findings:

• 70% of firms get better billing realizations when they budget—yet only 4% provide regular budget updates
• Nearly half of firms still lack dedicated pricing software
• Only 30% train lawyers on basic financial metrics

The problem isn’t just about technology. It’s about lawyers thinking they know how to run a business when many don’t have the training or data to back up their pricing decisions.

For firms willing to invest in proper budgeting tools, training, and transparent client communication, this represents a significant competitive advantage.

Here’s my Above the Law post on the BigHand survey.