Thompson Hine Recognized by Corporate Counsel as Top Law Firm for Value
Among Top 22 of 650 Firms Nationally as Best at Alternative Fee Arrangements
Date: April 28, 2016
Publication: Thompson Hine LLP
Thompson Hine LLP announced today that it was named as one of the top 22 law firms from 650 nationally as the best at developing and implementing alternative fee arrangements. The survey, BTI State of Alternative Fee Arrangements 2016, presents an analysis of firms’ efforts to help clients control costs based on in-depth telephone interviews with leading legal decision makers. “We congratulate the 22 law firms named by corporate counsel – in an unprompted manner…. These are the firms – out of the 650 core law firms serving large and Fortune 1000 clients – corporate counsel find best at making AFAs the successful cost control tool they were intended to be,” notes the report. The report elaborates that these firms successfully bring improved client focus, budget predictability, a more streamlined approach to work and double-digit savings.
Corporate counsel surveyed identified six primary reasons these 22 firms stand out: focus and efficiency, enthusiasm and commitment to AFAs, flexibility, willingness to take risk, sticking to the agreement without complaint, and providing the authority to enter into AFAs quickly without extensive meetings or reviews.
“Top legal decision makers identify Thompson Hine as a leading law firm at Alternative Fee Arrangements,” said Michael B. Rynowecer, president of The BTI Consulting Group. “Corporate counsel note the firm’s commitment to offering predictability and value to support their core goals.”
This recognition is a significant reflection of clients’ desire for fundamental changes in how law firms render their services. Thompson Hine has responded by making noteworthy modifications to its service delivery model through its innovative SmartPaTH® initiative, adding experienced personnel, proprietary software and infrastructure that enable the firm to offer efficient and managed processes, value-based pricing and flexible staffing.
“We listened to our clients and made substantial investments in service enhancements, including value-based billing, legal project management, and process improvement,” said Deborah Z. Read, the firm’s Managing Partner. “Our goal is to exceed our clients’ expectations for service delivery by further aligning our approach with clients’ needs for efficiency, predictability, and adherence to budget. We added sophisticated talent to ensure that our lawyers are trained and proficient in all aspects of our SmartPaTH program. We also created proprietary software that enables us to develop credible estimates and then manage and monitor projects according to those estimates. It is rewarding to be acknowledged by clients for the value we provide.”
This is the latest BTI client service distinction Thompson Hine has earned. Last month, the firm was recognized for the fourth consecutive year in every category for game-changing innovation in the report BTI Brand Elite: Client Perceptions of the Best-Branded Law Firms. Thompson Hine was positioned as one of the top seven “Client Service Strategists” – firms innovating by making changes others are not to improve the client experience. The firm also was among the top innovative “Value Drivers” – those making changes in process or the client experience to add value, and one of the leading firms considered “Movers & Shakers” – firms delivering new and valuable services that others are not. Thompson Hine was one of only 29 firms nationwide recognized in all innovation categories. In December 2015, the BTI Client Service 30 ranked the firm 15th in the nation for overall client service, marking the firm’s ninth consecutive year on the list. Among other top rankings in subcategories, the firm scored in the top four nationwide for “Client Focus.” BTI also has hailed Thompson Hine as a top U.S. law firm for client service excellence for 14 consecutive years in its annual BTI Client Service A-Team: Survey of Law Firm Client Service Performance.
In addition, Thompson Hine recently was ranked first in the category “Most innovative North American law firms 2015: New working models” by The Financial Times for its innovation in developing the SmartPaTH service delivery model. Read was also recognized in the report as one of the nation’s top 10 “Innovative Lawyers.”