Cognition LLP

Cognition LLP

April 01, 2015 08:00 ET

Cognition LLP Celebrates 10 Years with Innovative Value-Based Billing Model

TORONTO, ONTARIO--(Marketwired - April 1, 2015) - 10 years ago today, Cognition opened its then virtual office and brought a better business law firm model to Canada - one with the best combination of Bay Street and in-house experience, but without the cost and inefficiencies of a traditional firm. To mark the start of this continued industry leadership over the next 10 years, Cognition is launching an exciting new client-focused billing model; one that is unique to the legal profession anywhere. Starting with the April billing cycle, when Cognition clients receive an invoice, they will be able to adjust it in real-time based on a value scorecard. This scorecard is based on the six "Es" the company believes are vital to providing exceptional legal and customer service: Expectations, Effectiveness, Efficiency, Expertise, Engagement and Experience Overall. Each E is given a score, and the combined score can increase or decrease the total bill by up to 10 per cent. The automated process includes a survey in each invoice and adjusts the totals in real-time as the survey is being completed.

"We pride ourselves on providing our clients with top-notch legal advice and stellar customer service," says Joe Milstone, Cognition Co-Founder. "As part of that, we think they should have a say on the value they feel we provide. It's a great way to get feedback on how we're doing, and an opportunity to give our clients more control in an industry that typically does anything but."

Depending on the E performance scorecard, a $1,000 invoice might go up to $1,100, or drop to $900. Shari Zinman, Cognition's Director of Client Happiness, will then contact the client directly to talk about their performance ranking. Having a Director of Client Happiness, is just one example of how seriously Cognition takes the concept of service.

"You don't have to participate in the Value-Based Billing model - it's completely optional," says Rubsun Ho, Co-Founder. "But we would still welcome your feedback. We're all about providing our clients with better service, so we genuinely want to know what they think. Their input will be shared throughout the firm in a spirit of continuous improvement."

But a billing model that clients control?

"We're not worried about the risk," says Milstone. "We believe in our lawyers - if we didn't, they wouldn't be part of our team. And we are convinced their work will result in actual and perceived value and satisfaction. Clients who will actually want to reward us for the work we've done and the legal solutions we provide. It's an unusual way to do business, but then that's us. We're a pretty unusual law firm."

And doing business a little differently is netting remarkable results. As traditional law firms are shrinking, Cognition's revolutionary model of reduced overhead and corporate counsel services more proximate to or embedded within clients, has its business consistently ranked as one of the fastest growing in Canada. The next decade for lawyers and clients in Canadian business looks bright indeed.

About Cognition LLP

Cognition LLP is an innovative law firm that is structured to deliver relevant commercial and corporate legal solutions to businesses and legal departments in the most cost-effective manner. Servicing companies across Canada, Cognition combines the insight and approach of highly experienced in-house counsel with the flexibility and depth of a traditional business law firm, resulting in more meaningful legal solutions from lawyers who understand their clients' operations. Cognition's "virtual" approach - no fancy offices, receptionists or art collections - means only business-minded counsel providing expert advice within a reasonable and cost-effective pricing structure. Visit Cognition online at www.cognitionllp.com and follow us on Twitter @CognitionLLP.

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