AFAs / Process & Pricing / NewLaw

Thursday 17th March, 2016

Ivan RasicLegalTrek CEO

We will discuss today the following:

TopicsAFAs(How / When to apply without a risk; What are the advantages; Successful examples);

Process & Pricing(How to standardize tasks through SW; How to apply task-based billing; How LT helps apply it; How LT helps firms be more efficient)

NewLaw is coming(Why bother with all of these; Can NewLaw help firms get on top of their game?)

AFAs: How can one apply AFAs without risks?

- Risk is imminent (BUT you can do so much);

- Change the mindset (do you want to grow or not);

- Change internal reward structure;

- Introduce processes (once right incentives are in place);

- Change discussion with clients (talk goals / value);jority is investing into improving communication with clients.

AFAs: When is it good to apply AFAs?

- Always :) (If you have the right mindset);

- If you want to grow, yes (if you want to procrastinate, no);

- Bespoke or Standard - does not matter (read more);

- Out-of scope services?jority is investing into improving communication with clients.

AFAs: What are the advantages?

- Loyal clients (appreciate knowing the budget upfront);

- Scalable organization (grow it as much as you want);

- Profit (read more);

AFAs: Successful companies applying AFAs?

Process & Pricing: How to standardize tasks via SW?

- You don’t (this is a mental exercise - read more);

- SW keeps your process in place (discipline still matters);

- Once set, good to go (reducing overhead by large);

Process & Pricing: How to apply task-based billing?

- Easy (If you done all previously mentioned);

- Standard tasks, standard prices (menu);

- But if you deliver value with whole project - $$$;

Process & Pricing: How does LT help apply task-based billing?

- Keeps org. in place (crucial);

- Price even smallest units of work;

- Follow delivery and budget accordingly;

Process & Pricing: How does LT help firms be more efficient?

- Process;

- Discipline;

- Collective memory;

NewLaw: Why bother with all of these?

NewLaw: Why bother with all of these?

NewLaw: Can NewLaw help firms get top of the game?

- Blueprints all over the place (if you just stop and listen);

- Smart firms can partner (bespoke work, high value);

And now… the best question award goes to....

“What signs to look for in a particular market to understand if it is ready for a NewLaw firm?”

AFAs / Process & Pricing / NewLaw

Thank You!!

Ivan RasicLegalTrek CEO