Global News
Firms working to maintain profitability in the current legal landscape now have new options for enhanced pricing and project management tools as Aderant, the world’s largest independent legal software company, announced today the Expert Matter Planning solution has been rebranded as Expert MatterWorks™.
“Matter planning and legal project management tools are more essential than ever before,” commented Mike Barry, Executive Vice President for Product and Strategy at Aderant, a sentiment shared across the industry. In fact, Law Technology News published an article earlier this month asserting that, while technologies do exist in unique areas, “no third-party offerings that integrate all components needed in professional pricing—including cost structure and data, matter mapping, purchase modeling (to put together realistic bids), project management and budget tracking.”
“Our goal at Aderant is to meet industry needs such as these,” Barry continued. “By continuing to enhance functionality and increase availability of MatterWorks, we hope to help firms get a deeper understanding of their own internal data and help facilitate growth for the industry as a whole.”
One firm already reaping benefits from the Expert MatterWorks solution is Bird & Bird, a prominent UK firm and Aderant user for more than 17 years. Beginning in 2011, the firm collaborated with Aderant during the development of Expert MatterWorks as part of the Early Adopter Program, providing detailed feedback on the product and related firm processes. Implemented as part of a firm-wide profitability initiative, the Aderant tool has helped Bird & Bird in managing resources, pricing matters and assessing profitability before and throughout all stages of the matter lifecycle.
“Cost management has been a key element of our response to the credit crunch and the trend for toughening client negotiations based on price,” commented Bird & Bird Chief Financial Officer Paul Colvin. With Aderant MatterWorks, Colvin reports that the firm can now “call upon resources across the firm, in any country, and easily see how team changes will impact on profitability… The information is at our fingertips – we’re able to look at precious work so that our cost management gets better over time.” Colvin continues, “The Aderant tool helps give the level of detail we need and otherwise would not have. We will be in the best possible place to recover our costs… We can keep clients fully informed, flag up any issues early and make more accurate projections of cost.”
Aderant Expert MatterWorks utilizes an easy-to-use wizard approach to simplify matter planning and forecasting, enabling firms to more easily and confidently respond to and manage requests for both standard and alternative fee arrangements. Specifically developed to address the challenges firms are facing in professional pricing, Expert MatterWorks extracts cost data, price modeling and other project management metrics from previously modeled matters to develop realistic estimates, track work against budget as it is performed and manage changes to these parameters throughout the matter lifecycle.
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