Is fixed fee billing really a path to happier clients and more satisfied staff? With a growing number of law firm clients demanding more flexibility when it comes to fee arrangements, does a fixed fee arrangement actually meet client’s needs and what are the practical implications for your firm?
This session will look at the impact that fixed fee pricing could have on cash flows, lock-up positions and funding exposure. It will also include a practical case study by a law firm who has implemented fixed fee billing.
In particular, the session will:
- demonstrate the impact on financial performance
- provide useful benchmarking analysis to help you decipher internal and external data in a meaningful way
- clarify what the economies and efficiencies are to be gained from a banking and accounting perspective, and
- highlight the pitfalls to be aware of.
Viewing this session will ensure you understand:
- the trends in billing methods from successful firms around the country, and
- how reviewing your billing methods can improve the financial performance of your firm.