But now, tired of subsidizing law firm gravy trains, large corporate clients are forcing firms to
offer alternative billing arrangements, such as flat fees, volume discounts and banning new associates from working on matters.
(5) In which practice areas is it possible / appropriate to
offer alternative billing arrangements?
In which practice areas is it possible or appropriate to
offer alternative billing arrangements?
Last month, I posted about how Houston - based FMC Technologies turned to social media site Legal OnRamp to find innovative law firms willing to
offer alternative billing arrangements.
At heart of the new software are complex mathematical models that help firms forecast what it will cost to perform a certain project, and thereby determine if it makes sense to
offer an alternative billing arrangement for that project such as a flat fee.
Not exact matches
Bills started piling up very quickly and, at the time, Banks were not very receptive to the
alternative payment
arrangements that they
offered later on in the recession.
As a nimble friendly boutique firm, we can also
offer cost - effective,
alternative billing arrangements to help our clients manage their business law and litigation expenses.
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.
It's a natural reaction for lawyers and law firms to resist it because they would like to retain the hourly
billing at a non-budgeted amount, but there are lawyers and firms that actually come to the table and
offer the
alternative fee
arrangement — it could be a cap on certain things, or a volume discount.
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.
Our new recurring
billing feature is perfect for attorneys
offering alternative fee
arrangements.
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.
I
offer part time general counsel services to growing companies as well as fixed fee and other
alternative billing arrangements.
LexSage understands that clients are increasingly asking whether
alternative billing arrangements are
offered.
As a boutique international trade and sales tax law firm,
alternative billing arrangements are
offered.
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.
I can pull together teams of top - flight attorneys with specific skill sets for both large and small deals and can
offer clients
alternative billing arrangements that are appropriate for their needs and the requirements of the deal.
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.