Prosperoware’s Keith Lipman to Speak on Managing Outside Counsel Guidelines at ARMA NYC

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Firms need tools to successfully engage, invoice and receive payment on these matters—and to profit—under increasingly complex arrangements

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We are pleased to lead this educational session for ARMA NYC, and look forward to a highly engaging discussion on firms’ successes, failures –and Prosperoware’s Umbria platform solution.

Prosperoware, a leading enterprise software company delivering innovative technology that connects the business with the practice of legal and professional services, today announces that its Founder and President, Keith Lipman, will present “How to Effectively Manage Outside Counsel Guidelines” at an ARMA NYC Luncheon in Manhattan on Tuesday, May 10, 2016 at 12pm. Open to both ARMA and non-ARMA members, registration is now open here.

Law firms find themselves competing for and engaging new business in a buyer’s market. Legal departments leverage this not only through RFPs but through outside counsel guidelines, applying vendor management-like practices to the law firms they hire. Effective management of increasingly complex OCGs is vital to enduring client relationships and the firm’s profitability.

Delivered along a spectrum of detailed stipulations, outside counsel guidelines now often extend well beyond downward pressure on costs to stipulating an array of multi-faceted preferences running the gamut from billing and invoicing, to staffing of matters, to IT requirements, travel and preferred third party service providers. As a result, firms need tools that are equipped to successfully engage, invoice and receive payment on these matters—and to profit, successfully avoiding penalties or write-downs.

Prosperoware’s Umbria platform unites law firm leadership and lawyers with their business development, pricing, finance, and human resources teams to improve discourse between firms and their legal department counterparts through a comprehensive understanding of the cost of delivery for services; effectively systematizing contractual arrangements such as OCGs to ensure delivery on terms and conditions, and providing ongoing monitoring of the financial health of matters to avoid pro forma surprise, write-offs and write-downs as a result.

Keith Lipman comments, “Effectively managing Outside Counsel Guidelines is vital to firm’s sustainable profitability. As both pricing and contractual arrangements become more complex and client-driven, increasingly sophisticated tools are required to meet these demands. We are pleased to lead this educational session for ARMA NYC, and look forward to a highly engaging discussion on firms’ successes, failures –and Prosperoware’s Umbria platform solution.”

This session is open to ARMA and non-ARMA members. This ARMA NYC event is hosted by Cooley LLP. For registration details and host address, click here.

About Prosperoware

Prosperoware is an enterprise software company focused on law firms, corporate legal departments, and professional services firms. Our customers include half of the G20 and AmLaw 100 firms as well as large global corporations and Big Four accounting firms. Our innovative software transforms how professionals work and enables firms to deliver more value to clients while protecting profitability. We empower firms to reduce costs, improve profitability, and better compete by:

  •     Improving relationships with clients by delivering predictable fees and beneficial insight into work performed
  •     Empowering professionals to price and budget while leveraging modern profitability metrics
  •     Evolving to a “need to know” security model without impacting workflow
  •     Simplifying iManage administration and improving user adoption of electronic files

Our teams work primarily from offices in London, Chicago, and Philadelphia. Our more than 255 customers range in size from small firms with just a handful of users to those with more than 14,000. Prosperoware customers include: Akin Gump, Goodwin Procter, Baker Botts, Hill Dickinson, Berwin Leighton Paisner, DLA Piper, Duane Morris, Hughes Hubbard & Reed, Sheppard Mullin, Comcast, and NBCUniversal.

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Patricia Nagy

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