What is AltFee?

AltFee is a comprehensive pricing software tailored for legal practices, facilitating the adoption of value-based billing over traditional hourly models. By integrating artificial intelligence and data analytics, AltFee enables law firms of any size to scope, manage, and standardize their pricing strategies, ensuring consistency and transparency in client engagements. The platform offers over 470 template pricing guidelines and collaborates with firms to refine and implement alternative fee arrangements, ultimately improving realization rates, collection rates, and client satisfaction.

Designed to support solo practitioners, mid-size firms, and large legal enterprises, AltFee empowers legal teams to collaborate on pricing decisions, make data-driven adjustments, and benchmark performance. With features like historical billing data analysis, pricing analytics, and strategic implementation guidance, AltFee leads the way in modernizing legal billing workflows and maximizing law firm revenue.

Features

AI-Driven Pricing Insights: Utilize artificial intelligence to analyze billing data and optimize legal pricing strategies.
470+ Template Pricing Guidelines: Access and customize comprehensive legal fee templates for varied practice areas.
Collaborative Pricing Workspace: Enable team-wide collaboration and knowledge sharing on client pricing matters.
Historical Billing Data Analysis: Import and analyze previous billing data for tailored, value-based pricing recommendations.
Value-Based Pricing Modifiers: Implement systematic and consistent valuation for legal services beyond billable hours.
Client Matter Management: Seamlessly organize and track all client matters and their associated pricing within the platform.
Custom Onboarding and Consulting: Receive personalized implementation support and expert-led pricing optimization.
Comprehensive Pricing Analytics: Leverage reports and analytics to benchmark and improve pricing performance.
Integration Support: Connect with existing law practice tools to streamline invoicing and client management.

Use Cases

Law firms transitioning from hourly billing to alternative fee models
Solo lawyers seeking structured, data-driven pricing practices
Mid-size legal practices aiming to standardize and scale pricing across multiple projects
Large firms implementing firm-wide value-based pricing strategies
Managing and analyzing historical billing data to refine pricing approaches
Collaborating between lawyers and staff on the scoping and pricing of legal work
Improving client trust and satisfaction through transparent pricing
Enhancing collection rates and overall firm profitability

FAQs

What payment methods are accepted for AltFee subscriptions?

AltFee accepts Visa, Mastercard, American Express, Discover, Diners Club, JCB, and China UnionPay for subscriptions. Additional customizable payment options are available for Accelerator and Navigator plans.
Are annual subscription plans available and are there discounts?

Yes, annual subscriptions are available, and AltFee offers discounts for firms choosing this payment arrangement.
Can AltFee be customized to fit my firm’s requirements?

Yes, AltFee's Accelerator and Navigator options offer flexibility and can be tailored to meet your firm’s specific needs.
In what countries is AltFee available?

AltFee is actively used by law firms in the US, Canada, UK, Australia, Mexico, and many other countries.
How can additional team members be added to a firm’s AltFee account?

Team members can be added from within the app's account settings after sign-up. The customer success team is available to assist if needed.