The Precedent Bank

What is the Precedent Bank?

The Precedent Bank stores all your and your team’s past quotes (whether ultimately successful or not). It also stores precedent matters which have been enriched using ayora’s AI.

You can use the past quotes and precedent matters to create brand new quotes, fast. Doing that enables you to:

• avoid reinventing the wheel every time you quote for similar work, and
• when starting from a precedent matter, drawing on the actual resourcing profile of that matter for your resourcing assumptions.

Find it the Precedent Bank by clicking on the Search Precedents button in the home screen or following the link next to Completed in the Left Hand Sidebar.

Searching through the Precedent Bank

You can easily find the most relevant precedents in the Precedent Bank by using the smart filter function. Click on the filter icon at the top of the table to get started.

The smart filter allows you to narrow down your search by:

• work type
• client
• total fees range
• quote outcome (won/lost)
• work type-specific characteristics

Each search parameter can be boosted - that prioritised it against the other criteria.

The filter is a fuzzy search - that means it finds the closest matches to your criteria - helps identify precedents that might be relevant, even if they don’t perfectly meet every single criterion. To help you assess relevance, ayora displays a similarity score on the right hand side of each search result.

Recording quote outcomes

You can use the Precedent Bank to record your quote’s outcomes. Use the toggle to mark the quote as:

• draft
• sent to client
• won
• lost

If you won the quote, you can record the final Estimate Agreed (in case you ended up agreeing a different figure to that initially proposed).

If you lost the quote, you can record the reason for that.

Reviewing a precedent in detail

If you wanted to see a specific precedent in greater detail, click on its name in the Precedent Bank. That will open up a detailed view - please note that it’s displayed in a read only mode.

Creating a new quote from a precedent

To create a new quote from a precedent, simply click into that precedent and then press the copy icon in the top right hand corner.

Estimates, Total Billed and Realisation

In the Precedent Bank, ayora displays the Estimate Proposed, the Estimate Agreed, Total Billed, and Realisation. Those apply variously to Precedent Quotes and Precedent Matters:

• Precedent Quote: Estimate Proposed represents the estimate as created in the ayora quote builder and shared with the client.
• Precedent Quote: Estimate Agreed represents the final figure agreed with the client, inclusive of any revisions or discounts agreed subsequently to sharing the Estimate Proposed.
• Precedent Matter: Estimate represents the product of total hours spent by timekeeper grade and the latest charge-out rates. In short, it shows what the matter would come to at today’s charge-out rates, pre-any write-off.
• Precedent Matter: Total Billed and Realisation represent the actual outcome of the matter, inclusive of any time write-offs.