Hourly Billing and AI: The Perfect Pricing Storm

It’s time to relearn what value pricing looks like. Law firms face overwhelming pressure from current and potential clients to do ‘more for less,’ resulting in rapidly growing interest in technology-augmented offerings. Firms are now focused on leveraging technology for…

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Law Firm IPOs: Pricing on a Wing and a Prayer

We usually begin our Partners Pricing Masterclasses with one of the most evocative of Warren Buffet’s quotes, ‘The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business…

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The science of price sensitivity – yep, it’s a thing (first published on Validatum)

One of the many shortcomings in our current approach to pricing legal services is the preoccupation with merely pricing the job. While at face value this would appear to be all that is required, it is in fact only half…

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Leading Legal Pricing Experts Launch AI-Powered Pricing Tool

Legal pricing experts Burcher Jennings and Validatum have today announced a ‘game changing partnership’ with cutting-edge legal tech firm Neota Logic set to disrupt the world of legal pricing for the benefit of clients and firms. The partnership is behind…

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More dangerous drivel from the Legal Services Consumer Panel

Under normal circumstances, we would not bother wasting time addressing the asinine drivel that periodically issues forth from the Legal Services Consumer Panel but the latest article in the Law Society Gazette (1 August 2018) simply cannot pass without comment.…

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Run it Past the Firms’ Pricing Manager – Who? (First published on LexisNexis)

In 2016 Forbes magazine ran an article entitled, ‘10 Jobs That Didn’t Exist 10 Years Ago’. It’s a bit of a cliché but everyone understands the concept that jobs which could not have been conceived of a few years ago,…

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Fixed Fees: Here Be Dragons! (first published on Validatum)

Let us say at the outset that we are strong proponents of fixed fees, even in areas of work where they have not been particularly prevalent such as dispute resolution. We believe that they should be used much more than…

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Pricing Self-Assessment Health Check

Most firms now recognise that pricing strategy and execution requires considerably more focus and effort than has historically been the case. But as with any initiative, the starting point should be a critical appraisal of how we are doing currently.…

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‘Yes, we can do it for that price; ‘What would you like me to leave out?’

  “I am sick and tired of asking my external law firms for a garden shed and getting a bloody office tower and a bill to match!” So opined [verbatim] a very frustrated FTSE 100 GC in a casual conversation…

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‘We worked with over 300 law firms in 18 countries’

Interview with Thought Leader and expert on pricing Richard Burcher, Managing Director of Validatum (first published on Legal Business World) Richard, can you tell us a little bit more about your background and how you became a specialist on pricing? 

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