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.
Philadelphia, PA (PRWEB) August 24, 2016
Prosperoware, a leading enterprise software company delivering innovative technology transforming legal and professional services, today announces that company president, Keith Lipman, will co-present “Effectively Managing Outside Counsel Guidelines” with Eugenia Franzel, Senior Pricing & LPM Manager with Steptoe & Johnson, LLP as part of the peer-selected educational sessions at the 39th Annual ILTACON, held in National Harbor August 28th-September 1st. The session will be held Wednesday, August 31st at 3:30pm in Maryland D of the Gaylord National Resort.
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.
Keith and Eugenia will explore industry best practices and available tools which assist firms to effectively manage OCGs and to engage, invoice and receive payment on these matters—and successfully avoid penalties or write-downs.
Prosperoware Umbria—the core technology behind Prosperoware’s nomination for ILTA Innovative Solution Provider of the Year--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. I am pleased to be co-presenting with Eugenia and to engage this vital discussion for the ILTACON attendees.”
Prosperoware is exhibiting at ILTACON at booth #321. For more information, click here.
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 270+ 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.