FOR IMMEDIATE RELEASE
DFTech Introduces Matter Planning & Pricing Solution
Orange County, CA - December 15, 2014 - Data Fusion Technologies (DFTech) is pleased to announce the release of the latest addition to our Intellistat application suite, Matter Planning & Pricing (MP2). Designed to support how the world’s leading law firms establish budgets for fees and costs associated with critical client engagements, MP2 provides firms with an elegant and easy to use tool that can be used to create, analyze, and track matter budgets. MP2 is an essential tool in today’s era of dramatically increasing competition, more frequent use of alternative fee arrangements (AFAs), increasing importance of providing “cost certainty”, and increased pressure on firm profitability.
MP2 allows firms to model alternative approaches to staffing and pricing using rate and cost data specific to their organization. Once a model is finalized as a matter/engagement budget, actual data from matter execution over time gives firm leaders an unprecedented degree of visibility to all key financial aspects of client engagements. Alerts, watch lists, and graphical visualizations all enhance a firm’s ability to track financial performance on a real-time basis.
“We are very pleased to introduce Matter Planning & Pricing to our current and future client base”, said Dan Whelan, DFTech’s General Manager. “After one and one-half years of intense research and development effort, and extensive consultation with multiple clients and industry leaders, we believe MP2 is a robust tool that our clients will find indispensable to their operations now and as the firm evolves”.
The release of Matter Planning & Pricing provides another core component of DFTech’s industry-leading suite of analytics, planning, and reporting solutions for the top firms in the legal industry. It is a major milestone for the company and further enhances DFTech’s leadership position in our target market.
MP2 has been engineered on Microsoft’s .Net Framework using industry standard tools. The application can be easily accessed via any web browser or mobile device and can be implemented at firms using any of the primary financial systems, including Elite 3E, Elite Enterprise, and Aderant Expert.
“MP2 will allow firms to measure matter productivity based on industry best practices as well as on established firm-specific pricing and costing methodologies. Its robust functionality and carefully engineered ease-of-use characteristics provide a solution sophisticated enough to handle complex engagements for the largest firms in the world, but simple enough to be used by any vested party within the firm, including the Finance group, pricing professionals, Knowledge Management, Practice Group Leaders, and individual partners”, said Jeffrey Suhr, DFTech’s Senior Vice President, Products. “We are very excited to bring this product to the market and are prepared to work with our clients to deploy the solution today”.
Data Fusion Technologies is the leading provider of financial analytics, planning, and pricing solutions for the legal industry. Serving the top law firms in North America since 1993, DFTech has collaborated with over half of the AmLaw 200 to deploy innovative technology solutions to help firms run their business more profitably.
Dan Whelan, General Manager
Data Fusion Technologies
111 Corporate Drive, Suite 260
Ladera Ranch, CA
949-336-1080, Toll-free 888-926-9220
“Michael Best was interested in both a budgeting as well as financial reporting tool. We ultimately selected two modules from DFTech’s Intellistat software portfolio. It was clear that Intellistat was designed to address the specific needs of law firms. The budgeting software allows many external managers to contribute to a centralized process which simplifies creation of the firm’s yearly budget. The financial reporting package allowed us to replace outdated and unsupported FRx software. The built in conversion utility within financial reporting made quick work of converting existing reports so that we did not need to build all from scratch. The overall look and feel was very similar to FRx which allowed our users to quickly adopt the new software."Dave Lentz, COOMichael Best & Friedrich LLPRead More»