| The DMA Solution is the lowest cost solution for the clients,
across the board. It is perhaps lower than the current
practice of allowing the law firm to absorb the cost of free
loans.
The cost to clients who choose to use the DMA
Solution is minimal. Heavy users of hard
disbursements - such as intellectual property clients - will see
less than a 1% increase in their
total invoices for the year.
General Practice clients will see less than
1/4th of 1% increase in their total invoices for the
year.
The cost to your firm's
blue-chip clients? No cost at
all! Most of your great clients pay their legal bills
on time already - many within 30 days or less. Therefore, there would
be no carrying costs to those clients who choose to pay your firm
its entire invoice within a reasonable time
frame.
This is a solution that has
advantages to clients as well as law firms. When
clients agree that the firm should capture out-of-pocket carrying
costs and allocate them to the proper client and matter,
it will be a financial boon to the firm due to reduced costs
and recapture of outstanding capital. This will result in
additional benefits to the client because the cost structure of the
law firm is reduced, which will help decrease the need for
ever-higher billing rates. The DMA Solution helps client
and law firm work together for the long-term financial benefit
of both parties.
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