Authorized enterprise administration firm Aderant right now introduced it has acquired Virtual Pricing Director (VPD), the London-based firm that created the authorized trade’s first follow management-agnostic pricing platform.
The acquisition brings collectively Aderant’s monetary and matter administration merchandise with VPD’s AI-powered pricing instruments and the experience of VPD founder Richard Burcher, who’s internationally acknowledged as a number one authority on legislation agency pricing.
Based in 2017 within the U.Okay., VPD makes a speciality of offering cloud-based software program that leverages synthetic intelligence, structured logic and adaptive workflows to assist legislation companies automate and optimize their pricing methods.
The platform makes use of AI to mix agency knowledge with established pricing rules, enabling attorneys to scope engagements, mannequin a number of pricing eventualities, and forecast profitability. VPD works throughout totally different follow administration techniques, making it accessible to companies no matter their present know-how infrastructure.
Burcher, a former managing companion who additionally based the authorized pricing consultancy Validatum, has labored with main legislation companies worldwide to develop client-focused pricing fashions and business methods.
Plans For Integration
“Digital Pricing Director and Richard Burcher have outlined what best-in-class pricing seems like for the world’s high companies,” stated Chris Cartrett, president and CEO of Aderant. “By bringing this thought management and innovation into Aderant, we’re giving companies all over the place the power to make smarter, quicker and extra clear pricing selections that immediately drive profitability.”
VPD will stay accessible as a standalone platform, sustaining its follow management-agnostic method. Nonetheless, Aderant plans to deepen integration with its present merchandise over the subsequent 12 months, connecting pricing intelligence with time and billing, monetary administration, and analytics capabilities.
The acquisition comes as legislation companies face mounting strain to maneuver past conventional hourly billing fashions. Shoppers more and more count on payment transparency, various payment preparations, and predictable worth supply — calls for that require refined pricing intelligence and knowledge analytics.
By integrating VPD’s AI-driven modeling and profitability forecasting with Aderant’s complete follow administration ecosystem, the mixed platform goals to attach how authorized work is priced, delivered and measured, Aderant stated.
“For years, our focus has been serving to companies method pricing as each a science and a consumer expertise — balancing business intelligence with belief and transparency,” Burcher stated. “With Aderant’s scale and imaginative and prescient, we are able to now embed these greatest practices, powered by AI, into the on a regular basis operations of legislation companies world wide.”
The businesses didn’t disclose the phrases of the deal.
