Sentences with phrase «non-hourly fee billing»

Not exact matches

Firms that serve corporate clients are no strangers to flat - fee and other non-hourly billing strategies.

The use of alternative fees such as non-hourly based billing is also up, but still only represents 10 per cent of fees collected, according to the Law Firms in Transition Survey, which received responses from law firm leaders at 238 U.S. law firms with 50 or more lawyers.

Led by the Association of Corporate Counsel's «ACC Value Challenge,» corporate America is increasingly demanding that their outside law firms abandon the entrenched, historic, «cost - plus,» «billable hour» economic pricing model in favor of «Alternative Fee Arrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee arrangementFee Arrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee arrangementfee,» «contingency,» or «hybrid» fee arrangementfee arrangements).

47.6 % of firms report more than 10 % of total fees from «non-hourly based billing» (a significant jump from last year's 41 %).

92 % of the responding firms was using non-hourly billing arrangements, with half reporting an increase in fees generated from these arrangements as a percentage of total revenue for 2013.

A majority, 71 per cent, use non-hourly billing or alternative fee arrangements primarily to be proactive to remain competitive.

For example, some firms have invested significant time and money in developing customized financial reporting producing performance metrics based on client billing, collection, realization, and costs associated with producing work — from task to timekeeper — then used those metrics to determine where the firm can offer more competitive alternative fee, or non-hourly, arrangements.

The reason for doing so is that firms don't have much experience with non-hourly billing, but clients are demanding non-hourly fee arrangements.

McCarthys is planning to have 50 per cent of its work charged on a non-hourly basis, while Torys is moving toward a fixed - fee billing model.

For example, I have seen this accomplished with the help of the LexisNexis Juris billing, accounting and financial management software which enabled the firm to produce timely and informative reports based on clients» billing and collection performance, and then using those metrics to determine where the firm can offer more competitive alternative fee, or non-hourly, arrangements.