As a new team member at Ascertus, I’ve spent the last couple of months meeting corporate clients to see how we can support their most current commercial and operational requirements – be that through the services the company offers or indeed via some of the other business applications in our portfolio. After all, a lot has changed in the last two years and today we are all working and operating differently compared to pre-pandemic times. I have been heartened by clients’ generosity with their time, as well as their willingness to constructively talk about their technology issues.
Check out the latest trends and innovations in the legal technology world
Corporate in-house legal spend management
With an eye towards budget predictability and managing risk, many in-house legal departments are looking to implement alternative fee arrangements (AFAs) with outside counsel as an element of legal spend management.
There was a time when any arrangement outside straight billable hours was unheard-of, today a greater number of law firms are now open to AFAs – in fact, they have no choice. The issue, therefore, has become one of structuring the best fee arrangements – one that both parties agree to, aligns with the goals and financial requirements of each, and is based upon accurate historical data to give the legal department confidence that the arrangement is intelligent and appropriate.