Blakes lawyers first worked with our Pricing team and analyzed similar matters to model a realistic budget.
Building a truly custom budget-tracking tool meant identifying the most important information for our client. So, as a next step, the relationship partner consulted with the client to determine the project’s key performance indicators.
Finally, Blakes developed a customized matter report that tracked cumulative fees and savings. It was critical that the report present our fees and value transparently. To this end, fees and savings were categorized by project phase and by month. The report, delivered every two weeks, supplemented this information with a concise status update on the progress of the matter. As the client had prepaid a certain portion of the fees, the report also showed the declining balance of the prepayment and the details of each invoice.