NEW YORK, May 27, 2020 /PRNewswire/ -- Reorg, a global provider of financial and legal intelligence, has launched its proprietary Legal Billing Rates Database, a powerful analytics tool that attorneys can use to benchmark themselves against peers in preparation for client pitches. Hedge fund portfolio managers, CIOs and general counsel can also use the database to make informed commercial decisions about which outside counsel to retain.
Accessed via the Reorg platform (www.reorg.com), the database extracts interim and final fee applications from dockets within the U.S. Bankruptcy Courts of the Southern District of New York and the District of Delaware and uses machine learning and natural language processing (NLP) to create dynamic visualizations of the data. Clients can access database fee table contents as well as easily search and filter by firm, jurisdiction, practice area, years of experience and role so that they can better understand industry trends and distill insights.
The tool, which is the first of its kind built on a foundation of bankruptcy dockets, helps attorneys decide how to set fees in order to improve their chances of winning business. It also enables users to download and export the underlying data in Excel.
Since Reorg was founded in 2013, the firm has maintained a commitment to invest in its proprietary database software, and has since leveraged this capability to build out specialist products for the legal industry such as Covenants by Reorg (US bonds and loans analytical databases).
Founder and CEO of Reorg Kent Collier said of the launch, "As part of our growth strategy Reorg has invested heavily in our legal industry product suite over the last 12 months, building a pipeline of tools that our clients use to discover complex information, delivered in a clear, actionable way. The addition of the Legal Billing Rates Database evidences our commitment to serving the needs of the legal industry and showcases our unique skill in marrying technology with content as well as doing what Reorg does best — bringing clarity to opaque situations."
Founded in 2013, Reorg has fundamentally changed the way financial and legal professionals access complex and opaque business information. Our unique editorial team combines reporting with financial and legal analysis to provide a holistic view of topical situations and delivers that view in real time through our proprietary platform, which is powered by machine learning and natural language processing. Today, with offices on three continents, Reorg serves more than 20,000 professionals across the world's leading hedge funds, asset managers, investment banks, law firms, professional services, advisors and corporations so they can make better business, investment and advisory decisions. To learn more, visitReorg.com.