Pricing and billing are two sides of the same coin
The difference between pricing and billing is hotly debated in the legal industry, but they are similar concepts and so must mirror each other.
By aligning pricing with billing, firms ensure that the bill presented to the client actually equals the agreed price. However, logical as it seems, establishing profitable pricing is challenging many law firms, which in turn is impacting presentation of agreed billing to clients.
This article by Stu Gooderham, Head of Client Relations at LexisNexis Enterprise Solutions appeared in the Autumn 2015 issue of The Clapham Omnibus, the journal of the South London Law Society.