Setting & Managing Fees: Utilizing Alternative Fee Arrangements and Value-Add Actions to Increase Law Firm Profitability

recording Setting & Managing Fees: Utilizing Alternative Fee Arrangements and Value-Add Actions to Increase Law Firm Profitability

You Will Learn:

  • The kind of metrics inside counsel wants in Alternative Fee Arrangements (AFAs)
  • Specific examples of how firms have failed when setting and managing fees
  • Beyond cost reduction- a wish list of value-add actions that firms can take today to enhance the business relationship
Access the pre-recorded audio conference
$365.00
 

Alternative fee arrangements (AFAs) are rising!

In fact, according to a recent report, which represents $18 billion in processed corporate legal invoices, more corporate legal departments have structured work under AFAs than ever before.

Data shows corporate counsel is experimenting at an increased rate with 76 percent engaging matters under a structure other than the billable hour. That’s up from 59 percent in 2011!

AFAs are steadily increasing in the following five areas of law:

  • Corporate, General & Tax
  • Litigation
  • Regulatory & Compliance
  • Commercial & Contracts
  • Employment & Labor

While hourly billing is neither dead nor dying, cost containment is a key incentive for corporate legal to use AFAs, and providing value and predictability around the cost of legal matters is an even bigger incentive.

Learning Objectives

During this critical event, a panel of GCs and industry experts will share invaluable insight into:

  • The kind of metrics inside counsel wants in Alternative Fee Arrangements (AFAs)
  • Specific examples of how firms have failed when setting and managing fees
  • Beyond cost reduction- a wish list of value-add actions that firms can take today to enhance the business relationship

You will also learn:

  • How firms can better communicate about goals, firm fees, and expected outcomes
  • Three things GCs want you to know about budgeting in 2017
  • How GCs define fee ‘innovation’ and why so many firm’s fail to innovate
  • Successful experiences in the management of fee predictability and transparency
  • Fee mistakes that will land your RFP in the rejection pile

Product ID: 9533

Discover How to Attract and Keep Budget-Focused Clients!

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Faculty

Keith Maziarek
Keith Maziarek
Senior Director of Client Value, Perkins Coie LLP

As Senior Director of Client Value, Keith Maziarek works with clients’ legal operations executives to establish strategic pricing arrangements and implement customized communication/collaboration tools and efficiency solutions. He works to improve performance monitoring and reporting, optimize service delivery models and establish metrics that allow clients’ legal departments to qualify and quantify the value they are capturing through working with the firm.

Keith previously served as Head of Strategic Pricing for DLA Piper, focused on the practice in the Americas. He is the author of several published articles on alternative fee arrangements and is the immediate past co-chair of the Legal Marketing Association’s annual P3 Conference, the legal industry’s leading event related to pricing, project management and process improvement.

Justin Ergler
Justin Ergler
Director, Alternative Fee Intelligence and Analytics, GlaxoSmithKline

Justin Ergler is the Director of Alternative Fee Intelligence and Analytics for GlaxoSmithKline based in Research Triangle Park, NC. In his current role, he is responsible for the compilation and analysis of alternative fee arrangement intelligence, the development of predictive cost modeling tools for new engagements, and accelerating the transition to non-hourly, value-based fee arrangements at GSK and in the Legal industry at large.

Rodolfo Rivera
Rodolfo Rivera
Chief International Counsel, FidelityNational Financial

Rodolfo Rivera is Chief International Counsel and Legal Hold Officer for Fidelity National Financial.  His other duties include managing all Fidelity’s Immigration matters and litigation against the various companies owned by Fidelity.   

Rodolfo Rivera was recruited by Fidelity in 2006 to manage its international expansion.   He organized a network of attorneys in 34 countries to work in conjunction with Fidelity Underwriters to issue title policies in those countries. In 2008 he led the team that opened Fidelity National Title de Mexico which is a wholly-owned subsidiary of Fidelity National Financial.  In 2012 he also led a team that established Fidelity's base of operations in Malta thereby allowing Fidelity to access the direct operation the title insurance market in the European Union. He currently manages a team of 5 in-house counsels and 30 outside counsels.

Nikki Rahimzadeh, JD,
Nikki Rahimzadeh, JD,
Manager, Legal Business Solutions, UnitedLex

Nikki Rahimzadeh, a former practicing attorney, has a broad range of experience in law department strategy and operations, including outside counsel management program design, metrics and analytics program design and training and communication protocols. Nikki specializes in outside counsel relationship management and the use of data tools and analytics to inform meaningful decisions about selection and right-sourcing of outside counsel. Her focus is on driving cost management and strategic decision-making for her clients. She has expertise in holding in-depth business reviews with outside counsel, using metrics to support meaningful conversations and develop deeper relationships.  In addition, her experience includes developing processes for increased use of alternative fee arrangements and implementing feedback cycles in order to achieve continuous process improvements in the management of outside counsel.

Discover How to Attract and Keep Budget-Focused Clients!

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