Release 188 - Enhancements to Price Benchmarking; Ability to Lock Fee Types for Pricing Items

Price Benchmarking is Getting Smarter

We’re excited to introduce Price Benchmarking V2, designed to provide greater flexibility, expanded practice area coverage and improved analytical capabilities. These enhancements offer more precise, structured and dynamic benchmarking tools to support legal teams and business intelligence professionals.

What’s New?

🔹 Expanded Practice Area Coverage

The new PERSUIT Taxonomy extends benchmarking beyond Litigation/Disputes and M&A, allowing for broader comparisons across various legal disciplines.

🔹 Location-Based Benchmarking

A new Location Filter in the Fees Tab enables regional price comparisons, improving insights into geographic pricing trends.

🔹 ANY/ALL Selection for Dynamic Search Adjustments

Users can now flexibly adjust search scope:

• ANY = Broadens search results by including items matching at least one filter.
• ALL = Narrows results to items that match all selected filters.

🔹 Expanded Advanced Settings

Additional advanced filters now available for Litigation/Disputes, with future expansion planned for other practice areas. 

🔹 More Accurate Market Reflection

To account for inflationary and other impacts to prices, bids have been weighted such that more recent bids have a greater influence on the results, with older bids contributing progressively less, ensuring that benchmarks stay relevant despite market shifts.

Maintain Pricing Integrity – Lock Fee Types at the Item Level

Tired of firms changing fee structures in your RFPs when you need a strict pricing comparison? Now, you have control. Clients can lock fee types at the item level, ensuring consistent, apples-to-apples comparisons—without mismatched proposals (unless they want them!).

What’s Changing?

✔️ Clients can now lock fee types at the item level, preventing firms from overriding pricing structures in RFPs.
✔️ A new “Allow other fee types for all pricing items” checkbox provides granular control over pricing flexibility.
✔️ Default behavior: Fee type locking is ON unless clients choose otherwise.
✔️ Firms cannot bypass the lock by adding sub-items with different fee types—sub-items will inherit the parent fee structure.
✔️ Clients can still select "No preference" as a fee type, allowing firms to propose any pricing model for those items.

For questions or support, please reach out to support@persuit.com 🚀