S&P Introduces Innovative Pricing Model
We listen to our clients! Starting May 2017, S&P no longer subscribes to the outdated billable hour. Instead, we offer Value Pricing as we strive to provide clients with an experience that demonstrates the real value of the knowledge and experience they have purchased.
Why? The billable-hour makes clients anxious and uncertain. Our goal is to provide you with outstanding big-firm quality work for a reasonable price and the personal attention you would expect from a friend. That will not happen if you have no idea how much a solution will cost but must rely on optimistic estimates.
More on Value Pricing:
Value pricing is a term used to describe a pricing model that sets fees based on the value of the work done for the client. We use a value pricing model whenever possible. Value pricing is done before the work begins so that you know how much you can expect to pay ahead of time.
Here’s how it works:
You provide the attorney with basic information about your situation, including the facts involved and the goals of the representation.
You and the attorney discuss the various options available to you. The attorney can help you evaluate the pros and cons of each option and chose the quickest and least expensive way to reach your goals.
Once a decision is made, the attorney develops a scope of work and gives you a customized, fixed fee before representation begins. As long as the scope of work does not change due to unexpected circumstances, this fixed fee is the amount you can expect to pay.
For these reasons, we believe that value pricing is a better way to do business. We haven’t figured out how to apply it to every case (give us time).