Prosperoware, a leading enterprise software company delivering innovative technology transforming the business of legal and professional services, today announces company President, Keith Lipman, and VP of Solutions, Ben Weinberger, will lead multiple educational sessions at the upcoming ALA Annual Conference in Denver, Colorado, April 2nd-5th. Monday, April 3rd at 11:00am, Keith Lipman will lead, “How to Price for Profitable Legal Services and Build Client Relationships,” Room 102. Following, on Tuesday, April 4th, Ben Weinberger leads, “How to Implement Need-to-Know Security Access and Ethical Walls without Destroying Productivity” at 7:30am in Room 103, followed by “The Perils of Compensation Conversations,” at 9:20am, Room 612.
Client purchasing behaviors and security needs have changed. Law firms are experiencing acute market pressure from several dominant forces, including: shrinking demand, growth of alternative legal service providers, uptick in procurement and use of RFPs, and declining realization rates, all while battling the persistent onslaught of cybersecurity threats. Clients impose strict controls on work delivery via Outside Counsel Guidelines which determine how they pay, who can perform the work, and who may have access to their sensitive data; to survive, firms are being forced to fundamentally transform their business models, including compensation strategies, and more strictly secure access to matters.
• Monday, April 3rd at 11am. Join industry thought leader, Keith Lipman, for, “How to Price for Profitable Legal Services and Build Client Relationships.” Keith will discuss the new legal business model and the need for holistic technologies to support the integrated intelligence and workflow of business development, pricing, finance, KM, and human resources teams.
• Tuesday, April 4th at 9:20 am. Attorney and former large firm administrative leader Ben Weinberger continues the new legal business model discussion with: “The Perils of Compensation Conversations.” Firms looking beyond simple revenue targets and focusing on increasing profitability will ultimately need to consider how they are incentivizing their professionals to complete work.
• Tuesday, April 4th at 7:30 am. Cybersecurity has become a huge reputational risk and clients today have heightened demands. Firms must mitigate risk by locking down access to all data. The new cybersecurity regulations implemented by the New York Department of Financial Services mandate it. Firms are implementing “need to know” security as it has quickly become the industry standard. Join Ben to learn about “How to Implement Need-to-Know Access and Ethical Walls without Destroying Productivity.”
Firms that want to improve cybersecurity and lock down access adopt Prosperoware Milan InfoGov (IG). Milan IG is the industry’s most comprehensive Confidentiality Management and Ethical Wall platform. Its modern architecture was designed to enable firms to lockdown data and reduce risk while preserving attorney productivity and enabling Risk teams to set policy and distribute management of daily matter access where appropriate.
Firms fundamentally altering their business models, from opportunity management, pricing, monitoring, billing, and compensation strategies adopt Prosperoware Umbria. Umbria is the industry’s only data-first, enterprise class practice management platform combining matter delivery, business development, firm-centric, and client-centric financial management. Umbria is rapidly being adopted across the AmLaw 200 and is already used by 20% of the AmLaw 100, including: Winston & Strawn LLP, Quinn Emanuel Urquhart & Sullivan, Arnold & Porter Kaye Scholer, Fish & Richardson, Nixon Peabody, Pillsbury Winthrop Shaw Pittman and Crowell & Moring.
Prosperoware president, Keith Lipman, comments: “To succeed, firms must change from their revenue-based business models to profit-focused models, and we’re proud to deliver the only out-of-the-box solution to this challenge, Umbria. With the recent release of Umbria Profitability, we’ve received extremely positive responses from firm management. The partners and lawyers themselves have been clamoring for this tool and are ecstatic with the immediate results they’re obtaining. We look forward to their tremendous successes.”