Being able to manage matters involving alternative fee arrangements predictably and profitably. That sounds nice doesn't it? But while many firms want to move to an alternative fee model, there are concerns about the implementation. How will we determine the fees we set? Will fees actually be predicable?
Enter: Thomson Reuters Engage, an Engagement Planning and Management (EPM) solution.
Engage takes the guesswork out of alternative fee arrangements. With Engage, law firms can meet client demands for transparency and predictable costs. Firms can better navigate complex alternative fee arrangements, while at the same time help practice leaders deliver matters profitably.
Engage offers law firms financial predictability. As you plan, budget, and manage matters, Engage is with you every step of the way. No longer are you left guessing when setting up a flat fee case. Instead, you lay out the engagement requirements and approach, Engage leverages worldwide law firm experience combined with previous matter history. The result: seamlessly created comprehensive matter project plans and budgets.
Engage also builds precision budgets. As lawyers lay out the requirements and their approach to how best handle a matter, they need to put it into clear numbers. With Engage, law firms can optimize plans within a client's specified budget. Firms can adjust timekeeper and staff assignments, timelines and budgets, guidelines and objectives. In sum, Engage takes the guesswork out of alternative fee arrangements and instead put you on track to make them a profitable and efficient part of your practice.
Disclosure: FindLaw, the publisher of this blog, is a Thomson Reuters business.