LONDON (28th February 2020) – Virtual Pricing Director®, the legal pricing platform conceived and built over two years by leading international legal pricing experts Validatum® and leading UK cost consultancy Burcher Jennings has just been adopted by legal tech heavy-weight Fieldfisher.
Responding to rapid growth in demand from law firms for a fully integrated solution that appeals to partners and senior management of both global elite and smaller law firms has been a massive challenge, but one that the founders have cracked with their fully integrated AI-powered SaaS platform.
Richard Burcher, Chairman and co-founder of Virtual Pricing Director® said:
“Over the last 10 years, the importance of data driven pricing sophistication has become increasingly apparent to most law firms. What firms around the world have told us for several years is that they want a holistic solution that appeals to both front line lawyers and management power users, but is sufficiently flexible, adaptable and scalable up or down to meet the needs of a very diverse market.
The democratisation of AI capability has enabled us to build some very clever functionality into it which minimises the amount of time required to put together even quite complex proposals. Firms are experiencing improved realisation and their clients appreciate the transparency and budgetary predictability that VPD provides.
We knew we were heading in the right direction, but frankly we have been stunned by the market response and the size and sophistication of the firms that have shown a keen interest and who are now trialing it. To have an award-winning legal tech firm like Fieldfisher come on board is a very exciting endorsement.
Rob Shooter, partner and head of Fieldfisher's Technology, Outsourcing, and Privacy Group and head of Fieldfisher's Tech Sector Group said:
“Fieldfisher is excited to announce its collaboration with Virtual Pricing Director®. For us, VPD is stand-out and has the potential to truly disrupt the legal industry. Behind the simple user interface sits years of Validatum's pricing experience and methodologies.
The platform should provide greater transparency and certainty for both lawyers and clients on costs. We think VPD could be a game-changer.
Martyn Jennings, CEO and co-founder of Virtual Pricing Director® added;
“We have provided pricing consultancy assistance to over 300 law firm in 22 countries. It seemed to us that as pricing specialists with an international reputation, we were well placed to provide the market with what it clearly needs.
The market doesn’t need another version of the spreadsheet. The profession’s requirements are vastly more sophisticated than that now and VPD has been built from the ground up to do just that.
But we are also pleased that we have been able to build it in a way that makes it accessible and affordable by all firms, regardless of size.
For more information, please visit https://www.virtualpricingdirector.com/
Contact: Stephanie White, COO, Virtual Pricing Director®
+44 (0)1225 632 777
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Notes to editors
- Validatum® is the world’s leading legal services pricing consultancy. Based in London with a wide international reach. Validatum’s sole focus is legal services pricing. We have worked with more than 300 law firms in 22 countries.
- Burcher Jennings is the UK’s most innovative costs firm, providing pricing and costs support and consultancy to a wide range of UK firms. The company won the Modern Law Awards ‘Supporting the Industry’ accolade 3 years in a row.
- Fieldfisher is an enterprising European law firm built around people. We have market-leading practices in our four key sectors: energy and natural resources, technology, financial services and life sciences. Our network spans over 1500 people across 25 international offices all of which offer clients highly commercial, pragmatic advice. We are based in Belgium, China, France, Germany, Italy, Luxembourg, the Netherlands, Ireland, Spain, the UK and the US. Fieldfisher was highly commended in the European FT Innovative Lawyers Awards 2019.