Wilson Pricing & Planning

Accurately evaluate the cost and effort of new business.

Take a comprehensive, collaborative approach to pricing and planning

Law firms are thinking hard about client and timekeeper profitability. With the days of annual rate increases behind us, firms must price services appropriately to maintain profit margins, especially with fixed-fee engagements. Spreadsheet-based methods of modeling profitability are inefficient and siloed.

With Wilson Pricing & Planning software, pricing specialists and analysts can accurately evaluate the effort and the cost of the new business.

Take a comprehensive, collaborative approach to pricing and planning

With Wilson Pricing & Planning software, pricing specialists and analysts can accurately evaluate the effort and the cost of the new business.

Track and evaluate profitability at varying levels of detail

Wilson Pricing & Planning enables a more accurate estimate of costs and margin and also provides firms with a means to track and evaluate profitability at varying levels of detail. Rather than performing the cumbersome task of building pricing models in spreadsheets, Wilson Pricing & Planning simplifies the effort with better results. When Wilson Pricing & Planning is integrated with practice management software, users can link the plan to the actual matter and track results in near real time.

Wilson Pricing & Planning works with the firm’s Elite Enterprise or 3E data. You can use the software to:

Create matter budgets and plans from the ground up
Perform sensitivity analysis for rates and hours
Save plans for comparison to actual
Track performance to budget through dashboards

Wilson Pricing & Planning Features

Scenario modeling: Evaluate pricing alternatives based on timekeeper rates, hours assumptions, and discounts. For example, one scenario evaluates five timekeepers working 100 hours each with 100% standard rates but heavy partner hours. The second has five timekeepers working many more hours but at 95% of the standard rates with fewer partner hours. The software helps you understand the impact of those variables on margin.
Margin calculations: Calculate revenue less costs based on either revenue or with the inclusion of cost rates.
Budget-to-actual assessment: Prepare budgets based on rates, hours, and discounts assumptions and link that to the matter in your practice management system. Track the total budget or at a phase or task level to assess performance compared to your assumptions.
Dashboard visualizations of matter and portfolio detail: View time spent, dollars spent, and the total matters that have plans versus planned results.

Calendar/Gantt chart views: Visualize the status of matters in a calendar or Gantt chart views.
Phase/task details: See a representation of the whole matter in granular levels of detail. Input hours, rates, and timekeepers at lower levels of detail and build up from there.
Fixed-fee and hourly assessments: Evaluate profitability based on fixed fee or hourly pricing models.
Export to Excel: Export pricing models in Excel to access the data in spreadsheet format.
Save plans and pricing models: Save pricing plans to a database for future access and the ability to link to it later or use it as a benchmark for other plans.
Profitability and revenue tracking: Perform models with or without costs by running models based on total revenue or margins.

Wilson Pricing & Planning Features

Scenario modeling: Evaluate pricing alternatives based on timekeeper rates, hours assumptions, and discounts. For example, one scenario evaluates five timekeepers working 100 hours each with 100% standard rates but heavy partner hours. The second has five timekeepers working many more hours but at 95% of the standard rates with fewer partner hours. The software helps you understand the impact of those variables on margin.
Margin calculations: Calculate revenue less costs based on either revenue or with the inclusion of cost rates.
Budget-to-actual assessment: Prepare budgets based on rates, hours, and discounts assumptions and link that to the matter in your practice management system. Track the total budget or at a phase or task level to assess performance compared to your assumptions.
Dashboard visualizations of matter and portfolio detail: View time spent, dollars spent, and the total matters that have plans versus planned results.

Calendar/Gantt chart views: Visualize the status of matters in a calendar or Gantt chart views.
Phase/task details: See a representation of the whole matter in granular levels of detail. Input hours, rates, and timekeepers at lower levels of detail and build up from there.
Fixed-fee and hourly assessments: Evaluate profitability based on fixed fee or hourly pricing models.
Export to Excel: Export pricing models in Excel to access the data in spreadsheet format.
Save plans and pricing models: Save pricing plans to a database for future access and the ability to link to it later or use it as a benchmark for other plans.
Profitability and revenue tracking: Perform models with or without costs by running models based on total revenue or margins.

Wilson Pricing & Planning Benefits

Better insight into the cost and effort of new business
Greater efficiency when modeling profitability
Reduced effort compared to use of spreadsheets

Increased accuracy for complex pricing scenarios
Improved insight into profitability with near real-time tracking

Watch a quick overview video

OUR CLIENTS

“We’ve had a long history with many of Wilson’s people, some of whom we knew from their prior employers. We appreciate the team’s ability to share their knowledge.”

Mary McSorley

IT Support Manager, Margolis Edelstein

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