WHY HOURLY BILLING DOESN’T WORK
The traditional time-based billing method, which pervades the legal profession, focuses on hours and effort above value and results. There is no connection between the fees charged and the value of the work delivered. It transfers risk from the firm to the client while misaligning the interests and incentives of the firm and the client –their interests are inherently at odds. Firms that track time are not incentivized to deliver what client’s want most because innovation and creative thinking are non-billable activities. Moreover, due to the nature of hourly billing, the client has little control over the process, and any value judgement must be assessed retroactively after the service has been delivered. At IMMERSA we believe that value must be managed proactively.
Our lawyers seek to provide multidimensional value throughout the entire relationship. We do this by consistently assessing value and the results we are delivering against the ever-evolving goals and objectives of our clients. At IMMERSA, we recognize that our clients’ goals and priorities are never static or one dimensional, so the value of our services shouldn’t be either. We aim to create a shared vision of the future, and partner with you so your success is our success.