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Around the Web - May

Everyone at Redwood has been busy these past few weeks with the completion and launch of the LexisNexis Redwood Business Development Application , so you'll have to forgive us for being quiet on the blog. We have a lot of content coming your way over...

Published Thu, May 20 2010 6:10 AM by MichelleStPierre

Filed under: Alternative Billing, alternative fee arrangements, business development, client segmentation, around the web, user group, norm mullock, kris satkunas, brian taaffe, client analysis, business development application

Mastering the Basics of Alternative Fee Arrangements

Rising client demand for alternative fee arrangements (AFAs) has forced an increasing number of law firms to move away from the hourly billing model. My colleague Norm Mullock, founder of Redwood Analytics and vice president of product strategy and innovation...

Published Wed, Mar 31 2010 10:54 AM by MichelleStPierre

Filed under: Alternative Billing, Pricing, Technology, alternative fee arrangements, project management

Around the Web - Business Intelligence

Redwood's BI solution was recently mentioned in an article on Silicon.com called " Five things CFOs must do in IT after recession ." Mike Giles, financial director at international law firm SJ Berwin, a proficient user of Redwood's BI...

Published Wed, Mar 10 2010 9:57 AM by MichelleStPierre

Filed under: Alternative Billing, Pricing, Technology, business intelligence, alternative fee arrangements, BI, around the web

The Gap Between Theory and Application of Alternative Fee Arrangements

"There's many a slip 'twixt the cup and the lip" If anyone has read a legal blog in the last year, there is a very high probability that you have read one about Alternative Fee Arrangements and/or pricing. On this site alone we devoted...

Published Tue, Mar 9 2010 9:00 AM by DerekSchutz

Filed under: Alternative Billing, Technology, alternative fee arrangements, Know Your Alternatives, client agreements

Know Your Alternatives - Wrapping Up the Series

As I mentioned in November, when I started this series, it could hypothetically go on forever. Half of my consulting efforts have been focused on alternative fee arrangements over the past year. There is little doubt that I will continue to post on the...

Published Tue, Mar 2 2010 9:00 AM by RussHaskin

Filed under: Alternative Billing, Risk managment, alternative fee arrangements, fixed fees, Know Your Alternatives

Research from the Redwood Think Tank - Alternative Fee Arrangements

Four times per year we host the Redwood Forum, which is a chance for Redwood users to get together online and talk about business intelligence, law firm management and finance, and the role our tools play in that space. The Redwood Think Tank is hard...

Published Fri, Feb 26 2010 9:15 AM by MichelleStPierre

Filed under: Alternative Billing, Risk managment, alternative fee arrangements, Redwood Forum, redwood think tank

Alternative Fees – Trouble Brewing?

Is the recent dust-up between Kasowitz, Benson, Torres & Friedman and its long-time client Duane Reade Inc. a bad omen for alternative fee arrangements or just a call for better management of these arrangements? As you might have read recently , the...

Published Thu, Feb 18 2010 10:16 AM by MichelleStPierre

Filed under: Alternative Billing, Risk managment, success fees, alternative fee arrangements, billing and collections, fixed fees, collect risk

The Only Profit Driver

I have spent the better half of the last decade working with firms on the drivers of profitability. If you are knowledgeable on the topic these drivers have many acronyms (e.g. RULES) but for simplicity sake I will list the generally accepted ones below...

Published Fri, Feb 12 2010 8:00 AM by RussHaskin

Filed under: Alternative Billing, Leverage, realization, Utilization, Inventory Management, alternative fee arrangements, profitability, partner compensation, direct costs, overhead, profit drivers, drivers of profitability

Future of the Legal Industry

I usually post here, and then "tweet" (using our handle @morepartnerinco ) about what I posted. Today I just have a quick post, to direct you to some activity earlier on Twitter about the future of the Legal Industry. Our colleagues over at...

Published Tue, Jan 12 2010 2:09 PM by MichelleStPierre

Filed under: Alternative Billing, economic outlook, alternative fee arrangements, future of the legal industry, twitter

Know Your Alternatives: External Ethics

Last week I had the pleasure of being a presenter on a webinar held by the Center of Competitive Management that focused on the ethical considerations of alternative arrangements. It is a topic that has not been given proper attention as AFAs continue...

Published Tue, Dec 22 2009 1:07 PM by RussHaskin

Filed under: Alternative Billing, Ethics, alternative fee arrangements, Know Your Alternatives

Bankruptcy Practices at Odds with the "Story of the Year"

Bankruptcy lawyers have been quite busy this past year, and firms have enjoyed exceptionally high billing rates for many pieces of work . This isn't surprising; in the wake of last year's economic crisis, many companies have sought protection...

Published Mon, Dec 21 2009 9:48 AM by BoYancey

Filed under: Alternative Billing, economic outlook, Pricing, Utilization, capacity, alternative fee arrangements, billing rates, bankruptcy, supply and demand, economic principles, practice groups

Know Your Alternatives: Internal Ethics

Although this will indicate a piece of my style of humor, one of my favorite movies happens to be Billy Madison with the great Adam Sandler. Not to bore you with the details of the film, but if you are familiar with this piece of cinematic genius you...

Published Wed, Dec 16 2009 1:49 PM by RussHaskin

Filed under: Alternative Billing, Ethics, Firm Culture, blended rates, alternative fee arrangements, fixed fees, Know Your Alternatives, partner compensation

Planning Concepts and a Sneak Peek at the LexisNexis Redwood Planning Application

Planning Overview The LexisNexis Redwood Planning application is a sophisticated management tool that uses a firm's profitability model to look at client planning and alternative choices in the staffing and pricing of new matters as well as the consequences...

Published Thu, Dec 10 2009 6:45 AM by MichelleStPierre

Filed under: Alternative Billing, Leverage, Planning, Pricing, matter planning, blended rates, staffing, alternative fee arrangements, fixed fees, planning application, volume discounts, flat fees, client planning

Know Your Alternatives: The Billable Hour and Sensational Headlines

I woke up this morning and started to read up on the recent news articles as I do each morning. There has been a lot of press around alternative fee arrangements and much of it is needed. What I have not been pleased with is the sensational headlines...

Published Wed, Dec 2 2009 1:10 PM by RussHaskin

Filed under: Alternative Billing, alternative fee arrangements, fixed fees, Know Your Alternatives, project management, billable hour, general counsel

Know Your Alternatives: This is Not the Time to Hold Back

In earlier posts I have emphasized the need for establishing a process around alternative fee pricing, tracking, and execution . To do this you have to understand your culture and have the right people in place and the right partners on board. I want...

Published Mon, Nov 23 2009 12:07 PM by RussHaskin

Filed under: Alternative Billing, alternative fee arrangements, Know Your Alternatives, project management

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