Billing/AFAs Archives - The BTI Consulting Group

Clients Pay Their Highest Rates to These Law Firms–and They Are Worth It

Clients are slimming down the list of firms to whom they pay their highest rate. This can help explain why the top rate hasn’t budged in 3 years—at a lofty $2,000 an hour. And, only 56% of clients say these firms are truly worth it.Clients pay the highest rates when…

Michael RynowecerJune 13, 2018

The Mad Clientist

5 New Trends Point to Big Changes

The ink isn’t quite dry yet on our most current research. But, we see clear signs of subtle change with big impacts. We just finished in-depth interviews with more than 300 top legal decision makers—here is what we are learning:Complex Work is Morphing into Bet-The-Company Work Mid MatterMatters starting out…

Michael RynowecerMay 30, 2018

The Mad Clientist

Winning the AFA Game

Learn the 6 steps law firms take to win the AFA game in this week's Mad Clientist Minute.You can view the video below, or on YouTube directly here: https://youtu.be/NO5cIfWOsV4 You can view the first video in our AFA series—Spending Under AFAs Soars, Are Your Clients Using Them?—here: https://youtu.be/-fTAcgjdMjwAnd the second video—The Benefits…

Michael RynowecerMay 15, 2017

The Mad Clientist

The Benefits of AFAs for Bet-the-Company Work

Companies with Bet-the-Company work are searching for ways to deal with these matters while not getting any additional budget for them. See how introducing AFAs to your clients can save them money to help cover the Bet-the-Company matters.You can view the video below, or on YouTube directly here: https://youtu.be/5iDtaRm_lTc You can…

Michael RynowecerMay 8, 2017

The Mad Clientist

Spending Under AFAs Soars, Are Your Clients Using Them?

Clients, by and large, don't want to put the effort into understanding your AFAs, yet spending on AFAs is soaring. See what makes the biggest difference in client's use of AFAs.You can view the video below, or on YouTube directly here: https://youtu.be/-fTAcgjdMjw We’ll be releasing videos here on The Mad Clientist…

Michael RynowecerMay 1, 2017

The Mad Clientist

7 Deadly Sins: Billing Practices Killing Client Relationships

Your bill: the one communication clients are going to be invested in reviewing and understanding thoroughly.Bills are the only factor every attorney has in common when delivering work to clients—regardless of which clients you are serving and what practice areas you are in. In the first installment of BTI's newest video…

Michael RynowecerJanuary 23, 2017

The Mad Clientist

The 22 Law Firms Best at AFAs

Top legal decision makers identify 22 of the 650 law firms serving large and Fortune 1000 clients as absolutely best at developing and implementing alternative fee arrangements*, and shared 6 reasons these firms stand out:Partners have authority to enter into an AFA quickly. These partners do not have to wait…

Michael RynowecerApril 27, 2016

The Mad Clientist

AFAs Soar to an All-Time High

The votes are in. Clients are loving AFAs. And we’ve got the data* to show just how much:Alternative Fee Arrangements (AFAs) now account for $21.3 billion of outside counsel spending in 2015, up from $13.1 billion in 2013. AFAs are the biggest growth market around—registering a 19.8% compound annual growth…

Michael RynowecerApril 20, 2016

The Mad Clientist

12 Steps to Charging Whatever You Want

The GC of a global giant shared this gem during a client feedback interview: “I have on my desk right now yet another invoice which will require interpreters and a Sherpa to decipher and see if I should pay.” 80.1%* of clients think like this GC—questioning the value of their…

Michael RynowecerMarch 9, 2016

The Mad Clientist

Law Firm Discounts Defy the Laws of Physics

To see exactly where your firm's rates compare to what clients are paying in BTI's Billing Rate Reference 2014, visit: www.bticonsulting.com/rates.

Michael RynowecerAugust 5, 2014