Using Business Intelligence to Effectively Negotiate Rates

Managing client rates and discounts is a growing challenge for firm partners and administrators. Our Rate Negotiator allows a firm to set rate approval guidelines, provides partners with historical rate data, and performs profitability analyses specific to the client, the area of law, firm offices, etc.

Instead of blindly agreeing to potentially unprofitable rate concessions, a partner can knowledgeably counter with competitive but fair rates that recognize the value of the services offered. For example, a client may already be receiving a 15% discount and can be reminded of this. Or, the partner can offer savings tied to volume, increased leverage, or speed of payment.

With the Rate Negotiator, partners have a clear picture of acceptable price ranges, and know when to defer to senior management should client demands exceed their authority to discount rates. This provides more control to both firm management and the partner negotiating the fee arrangement. As a result, the partner can take the negotiation out of the realm of the personal and shift it back to business economics.

For more information on the Rate Negotiator please contact your Account Manager:

Jessica Quesada
Data Fusion Technologies, Inc.
714-777-1800

Saul Himelfarb
Data Fusion Technologies, Inc.
410-667-4169