Accurate Legal Pricing and Costs Management should be an integral part of your workflow. Not just for Precedent H budgets, but to ensure that client disputes don't arise from unexpected fee increases and that estimates are agreed and managed.
Clients demand more and more information about the status of the matter and in particular the amount of legal spend and indeed exposure that they may well be expected to pay.
Timely project management updates and keeping the costs in line with estimates are built in our project management software.
Legal Pricing and Costs Management are essential tools within any law firm practice.
Your clients go to you for the legal aspects of a matter. Our expertise is in the costs aspects of the matter, from simple Precedent H budget planning to full blown legal project management. We are there throughout the journey from start to finish to ensure that win or lose your client has certainty of legal spend and possible exposure.
We always prepare the Precedent S bill of costs at the same time as the Precedent H and ensure we maintain that throughout the lifecycle of the case to ensure that your costs are up to date at the end for the agreement of the same and the ability to have a bill ready for settlement swiftly.
We understand the need for costs to be agreed swiftly at the end of any matter and we always ensure that a detailed analysis of the costs in provided whether we are preparing the Bill, Points of Dispute or Replies.
No one wants to get involved in disputes on fees but they are on the rise. We negotiate and agree outcomes where possible by working closely with external costs mediators and bar access direct counsel in Solicitors Act proceedings. We have an established working relationship with a leading law firm to go on record if needed and can provide legal project management throughout the life cycle of the dispute.
Pricing and legal spend management are essential. From pitching the price for a project at the right level, to ensuring that the methodology of charging for time is right at the outset. Costs management is key. External legal spend needs to reflect what was agreed. We specialise in auditing and analysing the spend from a simple series of legal bills to complex external relationships. Applying legal project management techniques ensures that outcomes can be measured.
Cash flow is king for the business to thrive. Our expertise in costs budgets and costs management allow us to carry out lending/funding audits for the lender. We can assist in the application for Third Party Funding /ATE by preparing a costs budget and then we can cost manage the process and carry out regular audits to ensure that matters are running smoothly. A thorough audit can ensure that the lender/funder can have greater certainty of investment and outcome. Costs budgeting across all aspects of the business and legal project management techniques aide cash flow.
An audit of your practice can reveal much more than many of the inbuilt management reports that CMS systems have. We have developed audits, workflows and process flows for a wide variety of clients, including funders, law firms, and Ate providers. The aim is to improve efficiency by streamlining process and to obtain a deeper understanding of how cases are started and completed. With virtual work becoming normal we can assist with the creation of Project Management workflows within Microsoft Teams and Office 365 to replace e-mail as the main channel for work.