Overview

A multinational law firm struggled with fragmented operations across finance, HR, and IT functions, leading to inefficiencies and rising costs. By partnering with iQuote to implement a shared services model, the firm centralised these critical functions, reduced overheads by 30%, and achieved 20% faster processes—key metrics cited by industry leaders Deloitte and McKinsey & Company as benchmarks for shared services success.

The Challenge

Operating across multiple regions, the firm faced inefficiencies caused by disjointed finance, HR, and IT systems. Financial reporting was inconsistent, HR management was decentralised, and IT services were reactive rather than proactive.

These challenges led to:

1. Higher operational costs due to duplicated efforts and inefficient workflows.

2. Slower decision-making, as critical data was scattered across multiple systems.

3. Reduced productivity, with staff spending excessive time on administrative tasks.

Without a unified operational strategy, the firm risked being outpaced by competitors who were adopting shared services models to drive efficiency and scalability.

The Solution

iQuote implemented a tailored shared services solution to address the firm’s operational challenges and build a scalable framework for growth.

Centralised Finance and Accounting
By unifying bookkeeping, payroll, and financial reporting, iQuote provided the firm with real-time financial insights. This improved decision-making and enabled better resource allocation while reducing redundancies.

Consolidated HR Management
Recruitment, employee training, and benefits administration were streamlined into a single system. This centralised approach ensured consistent support for employees across regions and reduced administrative overhead.

Enhanced IT Support
The shared services model introduced proactive IT management, including regular system updates, robust cybersecurity measures, and efficient troubleshooting. This reduced downtime and ensured seamless operations firm-wide.

Results

iQuote’s shared services solution delivered measurable improvements for the firm, aligning with proven industry benchmarks:

30% Reduction in Overheads
According to Deloitte, shared services can lead to a 30% decrease in operational costs. By eliminating redundancies and centralising critical functions, the firm reallocated resources to client-facing activities and strategic initiatives.

20% Faster Processes
Research from McKinsey & Company highlights that shared services models result in processes being completed 20% faster. This efficiency allowed the firm to focus more on strategic priorities and less on administrative tasks.

Improved Scalability
With a centralised framework, the firm expanded into new regions without increasing complexity or costs, demonstrating the scalability of the shared services model.

Consistent Service Delivery
The unified approach standardised operations, reducing errors and improving both internal workflows and client satisfaction.

“iQuote’s shared services solution was transformative for our operations. With centralised processes and faster workflows, we’ve reduced costs significantly and built a foundation for scalable growth.”

Why It Matters to Investors

iQuote’s shared services solution provides law firms with a strategic advantage by centralising operations and driving efficiency. These outcomes align with industry benchmarks, including Deloitte’s finding of 30% cost reductions and McKinsey & Company’s research showing 20% faster processes.

For investors, these results highlight the scalability and reliability of shared services as a tool for growth. By improving cost structures and operational efficiency, iQuote ensures that firms are well-positioned for sustainable success. This case study underscores the value of iQuote’s shared services in creating measurable and impactful outcomes for law firms, making them a compelling choice for investors seeking long-term returns.

Conclusion

iQuote’s shared services model enabled this multinational law firm to streamline operations, reduce costs, and achieve significant efficiency gains. By centralising finance, HR, and IT functions, the firm overcame fragmentation and inefficiencies, unlocking opportunities for growth.

For investors, this case study demonstrates the power of shared services to deliver scalable, sustainable improvements. With proven results and alignment to industry standards, iQuote continues to drive innovation and success in the legal sector.