Lawyers Stop Bowing Before Billable Hour

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Lawyers Stop Bowing Before Billable Hour
2006-09-08
Clients distrust them. Associates abhor them. Some lawyers, allegedly, abuse them and find their bar licenses stripped as a result. But billable hours remain the foremost currency by which law firms calculate what to charge their clients. But some law firms are trying powerful software programs that could give lawyers alternatives to checking off timesheets. The programs construct complex mathematical models to determine when it's cost-effective to use alternative billing arrangements such as a flat fee, said Kilpatrick Stockton Chief Financial Officer Gary Dacey. Kilpatrick Stockton bought the Dashboard software package sold by Redwood Analytics of Mt. Laurel, N.J. When a company sends a request for proposal (RFP) to law firms, the company usually feels comfortable with the quality of all the lawyers on its RFP list, Dacey said.
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