Costs and billing for clients: the effect of AI

The meteoric rise in the use of AI in the legal marketplace has taken many of us by surprise, not least in the field of costs and billing.

The billable hour has long since been regarded as an outmoded form of calculating our worth to clients yet it is still the benchmark that many of us use to formulate our bills. AI has now fundamentally underlined our need to rethink our billing practices.

Fixed fees and value billing is seen to be the way forward, but how do we sell that idea to clients?

As they can now do much of the drudge work themselves, they want to know what exactly, we are charging them for.

Who this is for:

All staff with client contact.

CPD hours:

This webinar provides you with 1 hour of learning.

Attendees will receive a CPD certificate upon completion of this course.

Learning objectives:

Delegates will learn:

• What the rules say about costs
• Solicitors (NCB) Remuneration Order 2009
• CPR R 44.4
• How we continue to get it wrong – the Ombudsman’s view
• The traditional models
• The immediate effect of AI on the client’s perception of our charging practices
• Chargeable hours vs ‘value billing’ (& other methods)
• Alternative methods of billing
  • Fixed fees
  • Contingency fees
  • CFAs/DBAs
  • Pro bono & CSR policies
  • Percentages and commissions
  • Benefits in kind

• Costs ‘creep’