SPA Pricing Education, Analytics & Decision Making Tools Webinar Series

Tag: Legal Services Pricing

Changes to judicial review are pricing communities out of justice | Friends of the Earth

Changes to judicial review are pricing communities out of justice | Friends of the Earth

What has changed? Until February 2017, there was a fixed limit on the amount losing a case could cost you. For individuals, the maximum of the other side’s legal costs you could be made to pay was £5,000. For organisations like Friends of the Earth it was £10,000. This limit, although still a considerable cost, […]

Pricing innovation | Canadian Lawyer

Pricing innovation | Canadian Lawyer

For some years, I have used the analogy of building a house as to the fallacy of not providing a budget/estimate of the cost, passing along efficiencies and fixed-fee certainty over the hourly rate. However, Headon provided me with an analogy that provided even greater clarity as to the need for innovation in both pricing […]

Per-Partner Pricing: A Penalty for Success | Averetek

Per-Partner Pricing: A Penalty for Success | Averetek

How does this relate to per-partner pricing? In the world of hosted software or programs for channel partners, there’s always a discrepancy between how many partners CAN participate and how many ACTUALLY participate. You can’t control human behavior, especially the behavior of channel partners. You can try to influence it, but you can’t control it. […]

Uncovering Unauthorized Sales – A Pricing Podcast | Professional Pricing Society

Uncovering Unauthorized Sales – A Pricing Podcast | Professional Pricing Society

In this #PricingPodcast, we talked with Whitney Gibson, a Partner at the Vorys, Sater, Seymour and Pease LLP law firm, and a knowledge expert on unauthorized sales, online. Whitney shared why businesses and consumers alike should be concerned with unauthorized sellers who sell diverted products. Sellers on eBay and other third party online marketplaces are causing many […]

Red-flag billing practices chronicled; report finds ‘upbilling’ by 21 percent of law firms | ABA Journal

Red-flag billing practices chronicled; report finds ‘upbilling’ by 21 percent of law firms | ABA Journal

Twenty-one percent of lawyers “upbilled” for their time in 2015, rounding up their hours worked to the next hour or half hour, according to an analysis of legal invoices from about 100 companies. Upbilling could raise the annual legal bill by about $29,000 for a partner billing 2,000 hours a year, according to the 2016 […]

As the Billable Hour Model Fades Away, Senior Pricing Execs Emerge as Legal Industry Profitability Czars | The Alexander Group

As the Billable Hour Model Fades Away, Senior Pricing Execs Emerge as Legal Industry Profitability Czars | The Alexander Group

Senior pricing executives come from many developmental paths–from FP&A/technical finance backgrounds to MBA/strategy, business development, practice management, and even senior partners with extensive experience in key client negotiations and profitability analysis. Whatever the profile, the individual must have the credibility and capability such that they are viewed by the partnership as a trusted senior advisor, […]

As the Billable Hour Model Fades Away, Senior Pricing Execs Emerge as Legal Industry Profitability Czars | Law.com

As the Billable Hour Model Fades Away, Senior Pricing Execs Emerge as Legal Industry Profitability Czars | Law.com

In their recently published “2017 Report on the State of the Legal Market,” the Center for the Study of the Legal Profession at Georgetown University Law Center, and Thomson Reuters Legal Executive Institute, noted that 2017 marks the 10-year anniversary of the Great Recession–and the corresponding impact on the legal market that followed: One of […]

Partner with outside counsel to drive value. | CFO

Partner with outside counsel to drive value. | CFO

When it comes to managing outside counsel, the CFO is usually concerned with the cost of outside counsel and the general counsel (GC) is responsible for finding a way to manage legal strategy within an often shrinking budget. The increased use of alternative fee arrangements (AFAs), however, presents an opportunity for CFOs to participate in […]

Despite Firms’ Efforts, GCs Unhappy With Pricing Data | The Legal Intelligencer

Despite Firms’ Efforts, GCs Unhappy With Pricing Data | The Legal Intelligencer

“They should try to address it usefully and creatively,” he said. The alternative “is like going to a restaurant without prices on the menu.” Despite clients’ seeming dissatisfaction with the amount of useful spending data their firms provide, few seem to be switching firms for that reason. According to Altman Weil’s report, of those firms […]

Optimal Pricing Of Legal Services And Big Data | Above the Law

Optimal Pricing Of Legal Services And Big Data | Above the Law

Lawyer.com is interesting from a general perspective in that it essentially shows the power of data in the legal space. The firm is profitable and growing rapidly, with annual revenues of around $4 million at this point. The whitespace that is not yet being exploited by Lawyer.com or anyone else, though, centers around two factors: […]