Valeo Partners, whose new Exogis service converts hourly rate billings to alternative fee arrangements by combining a firm’s internal billing data with the company’s vast database of fee data from competitors, and then factors in the firm’s business strategy to produce a handful of AFA options.
Chuck Chandler, a partner at Valeo, pointed out that in 2008 only around one in 10 Fortune 1000 companies were looking at AFAs, but the number had increased to nine out of 10 by this year. Likewise, three-quarters of the top 100 U.S. law firms now have AFA analysts, up from one-fifth in 2008.
He said Valeo culls its trove of market data entirely from the public record, offering an advantage over survey data because it attaches the numbers to specific firms and even attorneys. Exogis allows subscribers to match up their bids on an engagement against what could be expected from competing firms, he said. to purchase the Report.