An article in today’s WSJ [subscription required] shows a rise in the use of alternative billing arrangements by large corporations. So I guess I was prescient when I posted on the subject yesterday. The article reports a demonstrated increase in law firms charging either flat fees or value added fees based on the results achieved for the client. While this is not particularly new, apparently there are better software solutions available to manage these billing arrangements. There are also more firms and corporations who have had experience with these arrangements in the last few years.
Bottom line: start thinking more about alternative billing arrangements but don’t delete your time and billing system.