New Law Firm Pricing Tool Taps Into Artificial Intelligence

Legal technology provider Intapp is releasing a new tool for law firms that uses artificial intelligence to help set and track pricing for client projects “from quote to bill.”

Through the use of AI, Intapp Pricing analyzes previous firm work, including time card data, engagement milestones, and client requirements, according to an Intapp video.

The tool studies “normalized patterns of like matters,” said Jose Lazares, Intapp vice president for product strategy and product management.

In the past, firm partners and administrators often made pricing estimates based on experience—risking client displeasure if they underestimated costs for projects ranging from corporate mergers ...