Alternative Fee Arrangements

Defining Legal Spend Management

"Legalbill understands the delicate balance needed for law departments to receive responsive representation, qualitative representation and cost-effective representation."

Alternative Fee Arrangements

Successful alternative fee arrangements (AFA) balance three core components in a corporate law and risk departments' relationship with their outside counsel. Qualitative representation, responsive representation, and cost effective representation must remain in balance.

How does a corporate law or risk department achieve this balance?

Use internal as well as comparative benchmark information to develop a best practice alternative fee arrangement model

Continually monitor and evaluate Alternative Fee Arrangements to ensure qualitative and responsive representation

Evaluate the cost effectiveness of an Alternative Fee Arrangement using a shadow-billing technique

Capture information from existing Alternative Fee Arrangements to establish benchmarks for development of broader range of fee structures

Legalbill provides a suite of solutions that will reduce legal costs, enhance the client/attorney relationship, increase operational efficiency, provide a strategic perspective on the state of your business, and ultimately increase profitability.