Planning for the RFP Storm… part 3 (first published by Validatum)

Last week, in the 2nd instalment of blog series ‘Planning for the RFP storm’, Steph Hogg, Validatum Head of Procurement, Bid & Tender Consulting, talked about the types of questions firms should be asking themselves and the pre-work that can…

Planning for the RFP Storm… part 2 (first published by Validatum)

In part 2 of this 3-part weekly series, Steph Hogg, Validatum Head of Procurement, Bid & Tender Consulting, will get into more detail on what that checklist looks like and why. Last week, the 3-part series began with what is…

Planning for the RFP Storm… part 1 (first published on Validatum)

This is part 1 in a series of articles on managing client RFPs, written by Steph Hogg, Head of Procurement, Bid & Tender Consulting at Validatum. I read the BTI Consulting’s ‘mad clientist’ blog with interest this morning, about the…

Hourly Billing and AI: The Perfect Pricing Storm (first published on Validatum)

It’s time to relearn what value pricing looks like. Law firms face overwhelming pressure from current and potential clients to do ‘more for less,’ resulting in rapidly growing interest in technology-augmented offerings. Firms are now focused on leveraging technology for…

The science of price sensitivity – yep, it’s a thing (first published on Validatum)

One of the many shortcomings in our current approach to pricing legal services is the preoccupation with merely pricing the job. While at face value this would appear to be all that is required, it is in fact only half…

Leading Legal Pricing Experts Launch AI-Powered Pricing Tool

Legal pricing experts Burcher Jennings and Validatum have today announced a ‘game changing partnership’ with cutting-edge legal tech firm Neota Logic set to disrupt the world of legal pricing for the benefit of clients and firms. The partnership is behind…

Pricing Self-Assessment Health Check

Most firms now recognise that pricing strategy and execution requires considerably more focus and effort than has historically been the case. But as with any initiative, the starting point should be a critical appraisal of how we are doing currently.…

‘Yes, we can do it for that price; ‘What would you like me to leave out?’

“I am sick and tired of asking my external law firms for a garden shed and getting a bloody office tower and a bill to match!” So opined [verbatim] a very frustrated FTSE 100 GC in a casual conversation…

Pricing: Play Off the Front Foot or Perish

There are three core messages in this blog;

Alternative fee arrangements that are not solely dependent on the clock running can be more profitable than traditional hourly billing.
Offering AFAs proactively is invariably more profitable in contrast to arrangements offered

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Pricing and the ‘Dunning-Kruger Effect’

When working with partners to assist them on a specific pricing proposal, all too often the conversation goes something like this; “So what levels of resourcing will be required for this and how long do you think it’ll take?” “Well,…