Insurance Times - 16th January 2003
Legal Costs Software
Legal costs consultant Legal
Budgets will launch a software tool this month to calculate legal fees. Legal
Budgets managing director Jim Diamond said work started last year on the tool,
developed by software house Guernsey.net.
“The application looks at the
case and potential damage and the software picks up the pro forma budgets”, he
said. Diamond said the data could be available” in minutes” and the product would retail at around
£500.00 He said that the software would enable legal costs estimates to be made
up to specific points. It would also provide graphics to show cash flow
forecasts. “The biggest problem with a client is not knowing what the fees will
be,” he said. “We can help cement a relationship if a client has a definite
figure in mind”.
