Sentences with phrase «more alternative billing arrangements»

Not exact matches

As the economic model of law firms changes with the rise of alternative billing structures to the billable hour, there may be more room for creativity in providing flexibile work arrangements for lawyers.

If attorneys avail themselves of the advances in computer technology in the past decade or two, they can more easily come up with flat fees or other alternative billing arrangements — and continue to make a profit, Calloway says.

Therefore, they seek more alternative fee arrangements, fixed / capped costs and creative billing arrangements from their law firms.

RH: The law practice of the future will be more virtual and technology - driven with alternative billing arrangements.

Your partner's responses to the following questions will offer valuable insight about the firm's willingness and ability to «accept and live with» one or more types of alternative billing arrangements.

Moreover, as law firms move toward alternative and fixed - fee arrangements, they're far more likely to use paralegals, whose rates are tied to the fixed fee and not billed hourly.

Your partners» responses to the following questions will offer valuable insight about the firm's willingness and ability to «accept and live with» one or more types of alternative billing arrangements.

The more sophisticated business and corporate clients are insisting that outside counsel implement alternative billing arrangements in lieu of the traditional hourly - rate billing, which encourages and rewards inefficient performance and management of legal work, and discourages productivity and quick achievement of client objectives.

With counsel pursuing more and more non-traditional fee arrangements, the percentage of Corporate, General Tax matters having billings under some sort of alternative fee arrangement has risen from 9 % in the last report to 12.5 % in this latest report.

These arrangements allow firms to offer clients more flexibility in billing and may be a viable alternative for smaller practices that can not afford to hire new associates.

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.

Stock believes those who use pricing officers effectively will be more successful — particularly when moving off the clock to alternative billing arrangements.

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.