The Engagement Fee Gatherer helps law firms to collect fee quotes during multi-jurisdictional transactions from subcontracted offices and law firms in a standardized and consolidated format. It provides a customizable input form which can be sent out to every office or law firm to request a fee quote for their respective workstream. It allows all required data and information to be collected in a standardized way while also leaving room for further comments and qualifications regarding the fee quote. All collected fee quotes are consolidated in a central database from which they can be exported in just the required format. The tool therefore replaces email-based workflows which often require manual post-processing of input data and include the risk that important information is overlooked. A customizable dashboard allows users to gain insights into the status of individual requests in real time.
Many multi-jurisdictional transactions require different tasks and workstreams to be handled by offices or law firms around the globe. When pitching for such a transaction, the coordinating law firm needs to request fee quotes from all potentially subcontracted offices or law firms located in the relevant jurisdictions. If such requests are made and received via email, there is often the need to manually postprocess such data, e.g. If the fee quotes are not be specified in the same currency or are subject to comments and qualifications. This process can therefore become very time consuming and cumbersome.
With BRYTER, law firms can build a Engagement Fee Gatherer that streamlines and standardizes the process of collecting fee quotes. Through an interactive interface, that is made available to every office or law firm from which a fee quote is requested, all required data is collected in a consistent format. Such an interface makes it possible to collect the amount of fees in a specified currency and separately from any comments or qualifications. All collected fee quotes are then consolidated in a central database from which they can be exported in the format in which they are needed. This can save an enormous amount of time, which would otherwise have to be spent for manual postprocessing of data which cannot be billed.
How it works
Through the intuitive BRYTER no code editor, the number of steps and required details of the Engagement Fee Gatherer can be adapted to the specific fee quotes to be obtained. This allows a tailor-made tool to be created that queries exactly the information required.
Collect fee quotes
The completed tool can be accessed and used by the requested offices and law firms directly via a link. The entered data is sent directly to the database of the requesting law firm via an encrypted connection.
In the requesting law firm’s database, all incoming fee quotes are stored and consolidated. Once all fee quotes have been received, a final report which contains all data in a structured format can be exported as an Excel file. The current status of each request can always be tracked via an integrated dashboard.