Price Benchmarking

PERSUIT's Price Benchmarking encompasses both Fixed Fee and Hourly Rate Benchmarking, which has been aggregated and anonymized from the platform. Both of these benchmarks can be found by accessing the Price Benchmarking page from your main menu, and then toggling on that page between each item, as seen below.

Fixed Fees

When managing outside spend, corporate legal departments may only have past matters to reference when forecasting costs and understanding which phases/activities might take place within a given matter. With Fixed Fee Price Benchmarking, users are able to drill down into industry data from across thousands of fully anonymized proposals to understand what a matter (both legacy and new) should cost. Armed with this data, legal teams can negotiate more effectively with their firms, gain cost predictability, and make more informed decisions around which firm to select.

Within Fixed Fee Price Benchmarking, users can filter by Legal Services (Litigation or M&A), Area of Law or M&A Type, and law firm ranking cohort. As filters change, data will automatically populate on screen, beginning with total matter price and flowing into phase and activity level pricing as you scroll.

Hourly Rates

Price Benchmarking has also expanded to include Hourly Rate data. This data has been aggregated and anonymized from proposals that contain hourly rate data. Users can filter across over 30 global locations, firm cohort, and legal service type.