Dear Small Law Firms,
You no longer have an excuse for not embracing fixed fees. While it may previously have been a daunting task to figure out how much a certain case would cost you or your client, now you have a tool that does it all for you. Digitory Legal takes the guess work out of fixed fees and gives you a competitive edge in recruiting clients. While the lawyer down the street will charge them a hefty hourly rate, you will have a set fee, predictable budget, and peace of mind.
Digitory is a cloud-based solution that allows lawyers to build budgets for any matter using data and by entering case-specific information. Their goal is to educate clients, provide transparency, and nail budgeting.
Here’s how it works:
Simply register for an account and get started. The second you launch the platform, you get a summary of its features:
Next, fill out your case information – from general client names to the court, applicable law, and insurance information.
Then, fill in the client’s’ information:
You can choose which members of your team will be assigned to various tasks in a matter, enter their rates or use the defaults based on the Laffy Matrix, and even plan for unexpected events because let’s face it – they will happen.
Don’t worry if you get stuck: there are helpful hints and cues throughout the platform to help you fill in every field. You can also easily access the FAQs, and if you’re still stuck, just use the friendly chat feature in the bottom right-hand corner.
Once all the information is entered, simply save it and share it with your clients. You can have the discussions about fees ahead of time and never after the fact. This will give you and your client the peace of mind and transparency you both need.
Review and Track
The fun doesn’t stop when you click Save. You can see the cost breakdown of your budget over time – simply scroll to the right and see how the budget is allocated across time with the “Cost Over Time” report. You can also view a budget summary and costs based on the billing code, which is based on Uniform Task Based Code from the ABA.
You can even modify and duplicate budgets. If a client wants more partner time on a specific part of a case, no problem. Just replace the associate with the partner and the budget calculations will adjust auto-magically.
Working on a similar matter? Just duplicate and use the same budget as a template.
Soon, you’ll also be able to track how well you’re doing on your budget. Compare your actuals to your budget with just a few clicks and make sure you’re on point. With accurate budgeting, you’ll never have to have that difficult discussion with your client again.
What’s even more exciting is that the RFP process will be automated! Simply break down the specifics of your case (or let the bidders do so) and compare and contrast the proposals side-by-side within the Digitory platform.
It’s so easy to use, no training or webinars are needed. No setup. Just plain old text fields to fill in and you’re good to go. While I’ve seen many clunky and overwhelming solutions for budget planning, none are so easy to use that an IT or CIO is not needed. This is the next level of simplicity.
Digitory was designed and developed by a lawyer with 17 years of experience – one who knows and understands how an unexpected event and a poorly planned budget can impact the outcome of a case, the budget planning itself, and worst of all, the attorney-client relationship.
So, how did Digitory Legal do on the rating scale?
If this tool was used every day, it would have received a perfect score. Other than that, it’s a great piece of software that’s affordable and useful, especially from a competitive standpoint. If you can increase transparency and predictability in any manner, you will beat the hourly competitor.
To find out more, visit digitorylegal.com
Follow them on Twitter at @DigitoryLegal
Follow their founder, Catherine Krow at @cmkrow