Closer Look: Using LiSA to Categorize and Price Services

Legal Decoder recently announced the launch of LiSA (Legal intelligent Spend Analyst), a GenAI-powered personal data analyst to help law firms and legal departments better understand their legal billing data. The previous post showed how LiSA can query and analyze data generated from the Compliance Decoder engine. This post will take closer look at how law firms and legal departments can ask LiSA to provide analysis on data generated from the Pricing Decoder engine to price legal services.

Here is a quick description on the Pricing Decoder engine for those who are unfamiliar with it. In short, the Pricing Decoder categorizes line items in billing data by analyzing work narratives.

In a sample journey, a user looking to price the most billed service(s) can prompt LiSA to search for the top 10 tasks as a starting point.

Top 10 tasks for 2023

In the screenshot above, LiSA has returned subtotals for the top 10 tasks by calculating the total hours billed for 2023.

LiSA can also segment the data and show the distribution of tasks between senior and junior timekeepers to get a view of who billed to each type of task.

Tasks distributed between senior attorneys versus junior attorneys for 2023

LiSA can also provide summarized insights into Pricing Decoder data as seen below.

If a user wants further distillation of the tasks, LiSA can query and generate the information from Pricing Decoder data to help price services at granular level. Below is a breakdown of activities for the Discovery phase.

Activities for the Discovery phase in 2023

Pricing services requires a lot of time-consuming work. Decreasing the timeframe of analyzing data to generating actionable information should be a priority. LiSA handles the heavy lifting of querying and analyzing data to shorten the time required to accurately price services.