New platform to manage alternative fee arrangements

TyMetrix 360 has announced a range of new additions to its platform which will give legal departments greater control and flexibility around the management and enforcement of alternative fee arrangements. Contingency, flat, capped and fixed fees all fall under this heading as does blended hourly rates, volume discount, matter based hourly rates and hybrid models.  TyMetrix VP of global product management and marketing Deepthi Bathina said: 'AFAs have increasingly become an attractive solution to corporate legal departments' need for increased accountabliity, However, the development and execution of these arrangement evolving,' he said, adding “TyMetrix can help corporate legal departments and law firms find the best return on investment through our unparalleled insight into the various types of arrangements and our warehouse of legal analytics – the largest in the world.”