Prosperoware’s Keith Lipman to Speak on Managing Outside Counsel Guidelines at ARMA NYC

USA/Canada News

02
May
2016

Editor

Prosperoware, a leading enterprise software company delivering innovative technology that connects the business with the practice of legal and professional services, today announces that its Founder and President, Keith Lipman, will present “How to Effectively Manage Outside Counsel Guidelines” at an ARMA NYC Luncheon in Manhattan on Tuesday, May 10, 2016 at 12pm.  

Open to both ARMA and non-ARMA members, registration is now open here.

Law firms find themselves competing for and engaging new business in a buyer’s market.  Legal departments leverage this not only through RFPs but through outside counsel guidelines, applying vendor management-like practices to the law firms they hire. Effective management of increasingly complex OCGs is vital to enduring client relationships and the firm’s profitability.

Delivered along a spectrum of detailed stipulations, outside counsel guidelines now often extend well beyond downward pressure on costs to stipulating an array of multi-faceted preferences running the gamut from billing and invoicing, to staffing of matters, to IT requirements, travel and preferred third party service providers. As a result, firms need tools that are equipped to successfully engage, invoice and receive payment on these matters—and to profit, successfully avoiding penalties or write-downs.

Prosperoware’s Umbria platform unites law firm leadership and lawyers with their business development, pricing, finance, and human resources teams to improve discourse between firms and their legal department counterparts through a comprehensive understanding of the cost of delivery for services; effectively systematizing contractual arrangements such as OCGs to ensure delivery on terms and conditions, and providing ongoing monitoring of the financial health of matters to avoid pro forma surprise, write-offs and write-downs as a result.

Keith Lipman comments, “Effectively managing Outside Counsel Guidelines is vital to firm’s sustainable profitability.  As both pricing and contractual arrangements become more complex and client-driven, increasingly sophisticated tools are required to meet these demands.  We are pleased to lead this educational session for ARMA NYC, and look forward to a highly engaging discussion on firms’ successes, failures –and Prosperoware’s Umbria platform solution.”

This session is open to ARMA and non-ARMA members.  This ARMA NYC event is hosted by Cooley LLP.  For registration details and host address, click here.