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Alternative Fee Arrangements: How to Improve Your Law Firm’s Efficiency & Profitability

Law firms of all sizes are aiming for more clients and profit, but the traditional billing mindset could limit the scope of growth. Not all clients can afford to pay for legal services at an hourly rate. Fortunately for them, alternative fee arrangements (AFAs) can fill that gap and offer a value-based model that suits a broader group of clients.

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44% of firms discovered that clients don’t pay their bills because they lack the funds to pay all at once, according to a Legal Trends Report.

Join this webinar to learn about alternative fee arrangements (AFAs), such as flat fees, stage-based fees, subscription-based billing, etc. We’ll explain how AFAs help provide client-centered servicing while improving your firm’s revenue.

Additionally, we’ll discuss how automated tools like document automation and practice management empower staff to be more productive and motivated. These tools eliminate issues like delays and errors and save more time for high-impact work – all contributing to an all-rounded profitability when combined with AFAs.

 

Here’s what we’ll cover:
  • Types of alternative fee arrangements and their benefits
  • Automated tools and their role in improving productivity & profitability
  • Tips to improve law firm profitability
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AltFee is your partner in flat fee pricing. AltFee, an award-winning legal tech company, is the foundation of a law firm’s pricing system, empowering firms to accurately scope, take value into consideration, and communicate with their clients. Through the sharing of knowledge, collaboration, and analysis of data trends, legal professionals can confidently scope and price their flat and alternative fee services and practice law without the fear of underpricing their services. To learn more about AltFee, click here

  • Scott Leigh

    CEO + Co-Founder at AltFee