Sentences with phrase «using alternative billing arrangements»

The query stems from an observation of substantial profits by large U.S. firms using alternative billing arrangements for plaintiff - side antitrust cases.

Not exact matches

Whether you bill hourly or use alternative fee arrangements, knowing how much work you're putting into a matter versus how much you think you should or want to put into it is critical.

The ALM report surveyed 141 in - house law departments and 194 law firms on their use of — and satisfaction with — 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.

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 9.4 % of matters and 7.0 % of billings in the past year 3b Based on trailing 12 - months ending December 31, 2015

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

Figure 7: Enterprise Legal Management Trends Report Key Metric # 3: Alternative Fee Arrangements used in 10 % of matters and 6 % of billings in the past year Based on trailing 12 - months ending June 30, 2013

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 8.6 % of matters and 7.3 % of billings in the past year Based on trailing 12 - months ending June 30, 2015

Due to its expertise in Attorney Hourly Rate and Alternative Fee Arrangement (AFA) or Alternative Billing Arrangements Pricing for individual Attorneys at over 1,200 Law Firms including the Top 200 by Annual Revenue Size, Magic Circle and other large regional, middle - market, small and boutique Firms, Valeo has been used as a primary source and cited for articles in the major law and business publications.

Legal departments also need to look at different billing models, such as alternative fee arrangements, how they manage internal versus external spend, the way they manage relationships with their law firms and how they're using technology to drive better outcomes.

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.

Law firms also use Contract Express to reduce unrecoverable hours and increase fee earner efficiency in order to engage in sustainable and profitable alternative billing arrangements.

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 12 % of matters and 7 % of billings in the past year Based on trailing 12 - months ending December 31, 2013

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 9 % of matters and 7 % of billing Based on trailing 12 months ending December 31, 2014

Carrying over from the last few years is a decline in the use of alternative fee arrangements — 3.2 per cent said AFAs were the billing arrangement they had with their primary law firm / external service provider, which was a slight drop from 4.9 per cent last year and a considerable drop from 12.7 per cent in 2015.

McCarthy Tetrault's use of law firm analytics to re-engineer and improve M&A due diligence procedures, for example, «has allowed us to reduce costs to our clients up to 75 per cent, while charging them using predictable alternative fee arrangements such as fixed - rate billing,» said Peters.

The Economist mentions several alternative billing arrangements that are receiving greater use, including:

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.