Webinar Series: Matter Leakage – What are its causes and effects on profitability
Matter Leakage – What are its causes and effects on profitability on Wednesday, September 9th is the third edition of this summer webinar series co-hosted with Clocktimizer.
Matter leakage means the difference between the value expected from a matter and the actual value realized at the end of its lifetime (i.e., between your quote after client discounts and what the client pays into your bank account)
Most in legal think of leakage as value that is lost after the initial engagement terms are established. And most people are focused on the zone between so-called worked value and billed value (billed-to-worked realization). That realization rate varies by firm but usually has been in the mid to high 80s in percentage. There is also leakage based on invisible time (time that is worked but never recorded, which doesn’t show up in the numbers).
During this 45-minute webinar, we will highlight the importance of:
- Understanding value and pricing accordingly
- Showing the relationship between effective matter scoping and reduced leakage
- Educating and training lawyers to avoid matter leakage through matter management and client value techniques
- Establishing key metrics on matter management
Join Jessica Davis (McCarter & English), Pieter van der Hoeven (Clocktimizer), and Mark Medice (LawVision) in this webinar exploring how to deal with the challenges of matter leakage.