Womble Bond Dickinson has implemented BigHand Pricing and Profitability to help drive transparency of matter pricing. In the ‘cradle to grave’ matters that the transatlantic firm has managed through the tool, we’re told that there is conclusive evidence of better recoveries and a better margin on matters that would otherwise not have been economic.
BigHand Pricing used to be called Evaluate (stemming from DW Evaluate, which BigHand acquired in 2018.) The solution is a PMS-integrated matter budgeting, pricing and tracking tool designed for law firms to manage their matters financially.
Chris Oddy, head of pricing & commercial development at Womble Bond Dickinson said: “Everyone looks for value for money, but never more so than during a recession or exceptional circumstances such as those we have experienced recently. As a firm, we have a responsibility to both our clients and our staff to make sure that things are as efficient and transparent as possible.
“It’s very obvious that the matters we have tracked with BigHand have had better recoveries than those we have not.”
He adds: “We also know that we are making a better margin on some matters that otherwise would not have been economic for us as a business; using the insight from BigHand, we’ve been able to change the delivery model to make these matters viable, while ensuring client satisfaction. Ultimately, BigHand allows us to have better conversations with clients.”
You can read the case study here: https://www.bighand.com/en-gb/resources/case-studies/womble-bond-dickinson-developing-an-end-to-end-approach-to-client-transparency-with-bighand-pricing-profitability/
Caroline.hill@legalitlexicon.com