Insights to guide your fee review and pricing strategy
What if you could trust every billed hour was a good hour?
The answer was resounding. “It would be so much easier!” They went on to explain that modern mechanisms provide some level of accountability and predictability, trusting their law firm partner was more important. When things change in a matter, and there are always twists and turns, then assumptions need to be adjusted, addendums added, scope changed, and economics modified. Most cases are just too difficult to predict.
Read MoreWhether you know them as Pricing Experts, LPM Professionals, Client Value Officers, or "TVPi Professionals," (as we will refer to them here), it's abundantly clear that they are the most underutilized, revenue originating secret weapon at Law Firms. Yes, revenue Origination. Their value goes well beyond complex number crunching, process mapping, and RFP pricing proposals. TVPi Professionals are uniquely positioned to originate business. Any law firm leader who can think "outside the box" should reflect on this and realize that the highest and best value delivered by TVPi Professionals is organic revenue origination.
Read MoreThey survey says . . . Legal Spend Analytics is a top initiative for 2020
Read MoreThere is a misperception in the legal industry that there is an imbalance of economic information as between law firms and their clients. The truth of the matter is that both law firms and their clients have access to comparable data. This billing data could be using more effectively if buyers and sellers of legal services collaborated around it using modern data analytics tools. This level of transparency will make the practice of law value driven and will benefit all parties.
Read MoreSee how actionable data will empower the legal marketplace to increase fee transparency and lead to informed decisions. Legal Decoder will showcase our latest update to the LSA engine at the ACC conference in Phoenix beginning October 27th.
Our mission is to empower the legal marketplace with tools and actionable data that inspires more accurate, cost-effective, and informed legal spend decisions. We serve outside counsel, corporate legal departments, and third-party fee examiners without bias.
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