OUR SERVICES
Billing Rate Establishment/Negotiations
Determining where to move the firm's rates each year can be a daunting task. Establishing the right place in your market of peers to remain competitive while still maintaining clientele is key. Chinz Consulting can assist with a comprehensive assessment of your firm's rate structure from Equity Partners to Project Assistants, and come up with data driven recommendations for your firm. Not only will we work with your team to determine a new rate structure, but also provide guidance on improving how to utilize your billing system to most effectively capture your rate structure.
Chinz Consulting is also able to assist with informing your large panel clients of these rate increases and work to negotiate new deals when needed. With years of experience in negotiating directly with CFOs/General Counsels/Procurement Professionals, we will work with you and your clients to find and finalize pricing arrangements that are equitable to the client and profitable to the firm.
Engagement Economics Education
Having a firm understanding of the importance of engagement economics among your practitioners can help take your business to the next level. Increased understanding of health pricing and practice management habits will help drive both revenue and margin for your firm without additional investments in technology, marketing, or business development. Putting knowledge in the hands of your staff who are on the front line of negotiating deals and discounts allows them to approach each client with an advantage.
Chinz Consulting can help educate your teams and provide insight on how engagement economics can impact the bottom line of the firm. We revealing the levers that impact revenue and realization, and how to best utilize those levers to your benefit will result in immediate increases cash collection, reduce write-downs, and improve utilization among your resources.
Winning Work - RFP responses and Client Budget requests
With over 9 years experience of RFP responses, Chinz Consulting can assist with all the elements of helping to win profitable work for your firm. By analyzing and assessing each RFP individually, and by working with your BD and Legal teams, we will help determine if an RFP is worthy of a reply, and the most effective way to respond. We will be able to provide guidance in the cases of reverse auctions, panel agreements, AFA requests, and all other associated tasks with your RFP.
We are also able to help your various practice groups and individual practitioners with developing client budgets. By either utilizing existing tools, creating new templates, or designing one-offs, we will help you to provide useful documents and deliverable for the client.
Quality budgets with memorialized assumptions are essential to maintaining cost effective delivery of legal services. It is crucial to have a level of consistency in your budgeting delivery.
Data Analysis Services
Few things are as important as your company's data. But are you utilizing your technology to the best of its abilities in terms of pricing data?
Many firms and organizations focus on the key metrics that drive the financial statements and overlook the potential to capture and utilize key strategic information that can help target more profitable work. With years of experience across multiple types of organizations, Chinz Consulting can assess any gaps in your client and data reporting capabilities, and advise on corrective measures to maximize your knowledge.
From the point of client intake, through billing and collections, to post deal communications, there are hundreds of potential touch points for gathering and using data to your advantage.
Having knowledge management and financial reporting tools in place to both extract and export this information in useful ways, while minizmizing the amount of manual manipulation is the ultimate goal of our Data Analysis services. To ensure your systems are working at their best for you.