TKD Managing Partner Alan Tarter was recently featured in an article, "The Cost Variable: How a New York City-Based Law Firm Keeps its Costs Under Control,” which appeared in Disruptive Cost Savings magazine, a guide to forward-thinking frugality for small- and mid-size businesses.
In the article, Alan discussed some of the innovative cost-saving strategies implemented by TKD, such as maximizing office space; outsourcing certain functions, including the CFO or CTO roles; implementing new accounting technology that provides more precise reporting of expenditures; utilizing technology more effectively by utilizing the cloud and a continuous review of basic operating costs, such as heat and electricity expenditures and reducing those where it makes sense.
The article highlighted a number of programs and initiatives that TKD has implemented to keep costs down while offering clients lower rates and employees competitive compensation to retain and attract top talent, while keeping overhead costs under control. Alan noted that this combination of these three factors are essential to the success of the firm’s business model. He said, "We’re a full-service firm, but our rate structure is around 35% less than the average large firm…But we have all the resources and practice areas of a large law firm. Our rate structure is part of our value proposition.”
Disruptive Cost Savings is a supplement that was distributed in more than 25 legal industry publications, such as Long Island Business News, NJBIZ, Massachusetts Lawyers Weekly and the Daily Journal of Commerce, among others.
|Tarter, Alan M. Managing Partner||Managing Partner||212.216.8010|