Smarter Legal Pricing Starts Here

AltFee Product Tour: How to Price a Legal Matter, Forecast Profitability, and Use Pricing Intelligence in AltFeeAltFee helps law firms scope and price legal work, forecast profitability, and make pricing decisions using historical data and actionable insights. This demo walks through pricing a matter using value-based pricing, budgeting, collaboration, and pricing intelligence, and building a first pricing proposal.Pricing starts with firm-wide pricing guidelines, then is adjusted for the scope, complexity, and value of the work to produce a client-aligned fee. Each project starts with a guideline base fee. Hovering over the info icon shows the services included in the starting price. Users select the pricing factors that apply, including fixed fee adjustments and multipliers, to reflect the scope and complexity of the work.Value-based modifiers adjust the price based on factors beyond time, such as urgency, client relationships, and the value of the work. Selecting a modifier adjusts the fee for that consideration. For example, tight deadlines can increase the value of the work, so selecting High Urgency (+10%) reflects the accelerated timeline in the fee. The price updates automatically as pricing factors and value modifiers are applied.Before committing to a price, users estimate staffing requirements and profit margins. Team members or roles are added to estimate staffing costs and forecast project profitability. Selecting a job title estimates costs based on the role. Entering estimated hours for each team member calculates projected costs and profitability. The proposed fee, projected costs, and profit margin can be compared before finalizing the price.Pricing decisions are turned into a description of services that outlines what is included and sets client expectations. Users select service descriptions that communicate the scope and value of the offering, which creates a consistent scope of work defining what is included in the engagement.Pricing Intelligence analyzes similar past projects to highlight potential oversights, improve consistency, and surface issues and opportunities. In the example, the project fee is 11.3% below the average of similar past projects. Users act on insights to address oversights and identify opportunities. Past projects show that when the Extra Registration factor is selected, scope creep often occurs, so the modifier is adjusted to account for that risk. A Review badge updates automatically as insights are resolved, showing outstanding items at a glance.For collaboration, once pricing is finalized the status is changed to In Review to start the collaborative approval process. A colleague can be added to review pricing decisions and provide feedback. Project notes can be added to share context with the team. Pricing decisions, project notes, and client context are kept in one place. For complex matters or changing client needs, new projects can be added to the same matter, each with its own scope and price.Once pricing is finalized, a client-facing summary can be exported for use in a proposal, engagement letter, or email. The demo closes by inviting users to explore how AltFee could work for their firm's practice areas, workflows, and pricing goals.