Wednesday, April 22, 2015

Legal Management Systems: Alternative Fee Arrangements (AFAs) are Growing

How has your Firm addressed AFAs?  Does your system give you the facts you need to make the proper AFA decisions? 

AFAs are expanding, as everyone wants a deal. 

Clients expect your Firm to accommodate their budgeting requirements:
  • Variable Rate Structures
  • Fixed Rates
  • Flat Fees
  • Defined Deliverables
  • Project Analysis (Budget vs. Actual) 

Rippe & Kingston's LMS provides the tools to fulfill the requirement of AFAs. For example, our Matter Pricing Model is utilized to set up budgets, and once they are in place, you can use the Client/Matter Historical Analysis and/or the Client/Matter Profitability Analysis (if you use the Profitability module) to see if the venture was profitable.