Umbria helps lawyers and other professionals leverage past experience to competitively pitch and price services and set and monitor budgets
Prosperoware today announced that it has kicked off its early adopter program for Umbria Pricing & Experience Management. Umbria Pricing & Experience Management is a web-based software platform that helps lawyers and other professionals leverage past experience to competitively pitch and price services and set and monitor budgets.
Umbria systematically captures and consolidates critical information around lawyers, staff, costs, and matter profiles. Firms easily ascertain who is most qualified to take on the work, what similar matters and engagements have cost the firm to deliver, and the appropriate budget for delivering services to new clients.
Umbria will be generally available in October.
"Law firms are facing significant downward fee pressures, and many clients are demanding budgets for every matter," Timothy B. Corcoran, Principal, Corcoran Consulting Group, LLC. "Firms must now price their legal services competitively while closely monitoring their margins. They just haven't had the tools to do that."
Umbria leverages the data firms already gather in a variety of enterprise systems, such as their time and billing, practice management, document management, customer relationship management, and conflicts systems. Umbria takes this critical data out of the shadows and provides a single location to view all the information these systems gather around clients, vendors, employees, and matters—and how that information interlinks. Umbria starts with a matter opportunity and tracks the matter through its entire lifecycle. Umbria helps firms:
Set a price and budget for each phase of the matter
Effectively monitor budgets
Gain visibility into all invoices–even those the firm doesn't pay
Leverage prior matters for effective pricing
More effectively understand the relationship of people and companies to matters
Empower marketing with the information they need for sales pitches
Resources and links
Prosperoware will showcase its software offerings at ILTA's 36th Annual Education Conference August 18-22 at Caesar's Palace in Las Vegas in Booth 216 and will demonstrate its products in Forum Ballroom 05.
For more information about Umbria Pricing & Experience Management, click here.
Prosperoware delivers a family of software products and integrated platforms to improve matter centricity, information governance, remote access, WorkSite and SharePoint integration, and pricing and experience management. Prosperoware enables lawyers and professional staff to manage a wide range of document-intensive processes without IT support across multiple systems, including iManage WorkSite, Microsoft SharePoint, and any system that stores security in a SQL database. Prosperoware clients include BakerHostetler, Berwin Leighton Paisner LLP, Cravath Swaine & Moore LLP, DLA Piper, Hill Dickinson, Hughes Hubbard & Reed LLP, Duane Morris LLP, Sheppard Mullin Richter & Hampton LLP, and White & Case. Prosperoware has offices in Europe, Asia, and the U.S. To learn more, go to prosperoware.com.
Business Development Manager