The Engagement Fee Gatherer helps law firms to collect fee quotes during multi-jurisdictional transactions from subcontracted offices and law firms in a standardized and consolidated format.
It provides a customizable input form which can be sent out to every office or law firm to request a fee quote for their respective workstream. It allows all required data and information to be collected in a standardized way while also leaving room for further comments and qualifications regarding the fee quote. All collected fee quotes are consolidated in a central database within our fee collection tool from which they can be exported in just the required format. The tool therefore replaces email-based workflows which often require manual post-processing of input data and include the risk that important information is overlooked. A customizable dashboard allows users to gain insights into the status of individual requests in real time.
Background
Many multi-jurisdictional transactions require different tasks and workstreams to be handled by offices or law firms around the globe. When pitching for such a transaction, the coordinating law firm needs to request fee quotes from all potentially subcontracted offices or law firms located in the relevant jurisdictions. If such requests are made and received via email, there is often the need to manually postprocess such data, e.g. If the fee quotes are not be specified in the same currency or are subject to comments and qualifications. This process can therefore become very time consuming and cumbersome.
With BRYTER, law firms can build a Engagement Fee Gatherer that streamlines and standardizes the process of collecting fee quotes via accounting automation. Through an interactive interface, that is made available to every office or law firm from which a fee quote is requested, all required data is collected in a consistent format. Such an interface makes it possible to collect the amount of fees in a specified currency and separately from any comments or qualifications.
All collected fee quotes are then consolidated in a central database from which they can be exported in the format in which they are needed. This can save an enormous amount of time, which would otherwise have to be spent for manual postprocessing of data which cannot be billed.
Book a demo to find out how BRYTER can help you streamline your services. Or if you’re still researching how to improve your processes, check out our No-Code Automation for Law Firms and Workflow Automation for Legal Ops guides.
Benefits
Automated & Standardized
Build a standardized process to effectively request and consolidate fee quotes. Configure the type and form of allowed inputs to match the specific requirements and workstreams of the transaction in question.
Faster Execution
Save up to 90% of time requesting fee quotes from external legal counsel. The Engagement Fee Gatherer directly consolidates all received fee quotes in a central database and thereby saves valuable time.
Transparent overview
Through a customizable dashboard, the status of all outstanding and received fee quotes can be tracked and visualized. Thus, you can gain real time insights into the current status of the request process.
Easy-to-access
The Engagement Fee Gatherer can easily be made available by sharing a link via which the users can access the tool and enter their data directly.
Highly customizable
Every application built on BRYTER is customizable. The Engagement Fee Gatherer may reflect each transaction’s unique circumstances. The BRYTER platform gives unparalleled opportunities for customization.