AFADATA® is a patented, one of a kind, financial management tool for legal matters. It analyzes invoice and budgeting data, and builds cost models to show what different items of legal work should cost on an “all in” basis. Far beyond rates and discounts, AFADATA analyzes law firm efficiency, and incorporates benchmark comparisons (blinded, aggregated) to identify savings opportunities based on broader market trends.
- Savings: via up-front cost reductions to trim inefficiencies
- Predictability: improving law firm performance vs. budget via better tracking and accountability
- Alternative Fees: offering different options to move away from hourly rate billing to improve value and better align interests between client and firm
- Strong business case: to show Legal is soundly managing its finances and external spending
- Superior data & benchmarking: clients can have greater insight as to what different items of legal work cost, and which law firms offer greater value in producing the work