Matter Pricing

BigHand Matter Pricing is a matter budgeting, pricing, and tracking product for law firms, integrated with a firm's practice management system (PMS) to combine budget creation, fee modeling, and real-time financial tracking in a single platform.

Key features and functions include:

Budget Templates and Fee Modeling
Provides templates for creating matter budgets using top-down or bottom-up methods, supporting fixed, capped, and blended fee structures, and allowing users to model alternative fee scenarios based on historic matter data.

AI Pricing Agent
Includes an AI-enabled feature intended to help lawyers interpret client instructions, define matter scope, and develop pricing arrangements using templates, precedents, and historical matter data, developed in partnership with Ayora.

Live Budget and Performance Tracking
Tracks budget-to-actual performance in near real time, with automated alerts intended to flag matters at risk of exceeding budget before billing issues arise.

Scope Change and Budget Version Control
Allows users to track scope changes and maintain version control across matter budgets as pricing arrangements are adjusted.

Reporting and Analytics
Produces client-facing budget reports, margin and profitability analytics, and firm-wide reports intended to support board-level and management review.

AI-Enabled Timecard Analysis
Includes a feature for automated analysis of timekeeper data intended to support cost and billing processes.

PMS Integration
Connects with a firm's practice management system to draw on historic matter, time, and financial data for use in pricing and tracking.