“We offer clients flat fees and other alternative fee arrangements to give them full transparency when it comes to budgets, timelines, and our services,”said Farmakis.

The Law.com article points out that, in many instances, captive ALSPs charge higher fees. According to Farmakis and Rile,  fueling those higher prices is a law firm billing model that hinders a captive ALSP from reaching peak efficiency and truly slashing prices. For firms that are tied to a traditional pricing model, it’s difficult to transfer those hours to the ALSP model because under that model those hours get billed at a significantly lower rate.”

“There’s more value for the client, but less margin for the firm. Being unable to break from this conventional firm billing model and mindset can inhibit a captive ALSP’s ability to match an independent vendor’s pricing,” Farmakis said. “I think the independent ALSPs have performed better than the captive ALSPs because they’re singularly focused on that value proposition and don’t have that inherent conflict.”

Click here to read more of Solvaire’s commentary, as well as hear from other legal leaders on the captive ALSP pricing topic.

The post Corporate Counsel ALSP Article Features Solvaire Leaders appeared first on Solvaire.

Click here to read the entire Smart Business article and interview with Christian.

The post How Alternative Legal Service Providers Can Add Efficiencies, Create Value appeared first on Solvaire.

“Captive ALSPs run by Big Law will begin to lose ground to independent ALSPs and captive ALSPs operated by mid-sized firms. The latter will offer a more compelling value proposition based on price structure, efficient processes, and a more complete understanding and usage of legal technology. In the end, the Big Law financial model and its captive ALSPs financial model are in conflict with one another. This conflict will start to erode Big Law’s captive ALSPs competitiveness and market share.”

Click here to read the entire Legal Tech 2021 ALSP Predictions article.

The post Solvaire President Shares ALSP Market Predictions with Legaltech News appeared first on Solvaire.

With the Coronavirus pandemic having a widespread effect on business continuity, supply chains and revenues, Babst Calland and its alternative legal service provider, Solvaire, are currently advising C-suite executives and managers as they seek to quickly assess their contract provisions, evaluate their exposure and make effective operational and financial risk-based decisions. Of particular concern, key suppliers may desire to invoke “force majeure”, delay or termination provisions during this time of uncertainty. Similarly, our clients may desire to invoke these same provisions to delay or terminate unessential projects.

Click here for the complete article.

The post Business Continuity During the COVID-19 Pandemic: Leveraging AI/Machine Learning Contract Review appeared first on Solvaire.

Click here to read complete Legaltech News article.

The post Babst Calland & Solvaire: An AI Contract Review Use Case appeared first on Solvaire.

Click here for the complete Legaltech News article.

The post The Expected and Unexpected of Working with Artificial Intelligence appeared first on Solvaire.

Click here for the complete Smart Business article.

The post Artificial Intelligence is Changing the Way Lawyers Practice appeared first on Solvaire.

Click here for the complete Legal Intelligencer article.

The post Firms Take DIY Approach to Tech, But With Limits appeared first on Solvaire.