The service comes from Herbert Smith Freehills’ specialist decision analysis team, comprising lawyers with strong numeracy skills and extensive experience in handling complex disputes, the firm said.

The team works alongside the existing case team for each particular matter, helping to identify key points of uncertainty on a dispute, and drawing on legal analysis to identify possible outcomes at each point.

It then applies decision science techniques to help clients better understand and manage risks.

The firm noted such analysis can be applied wherever decisions need to be made in the face of uncertainty, with examples including determining whether to commence proceedings, legal risk management and provisioning, seeking external funding, and consideration of when a settlement offer should be made or accepted.

The new software service has been successfully used by a number of Herbert Smith Freehills clients over the past two years, a statement said.

Created by partners Alexander Oddy and Donny Surtani, the service can be used across a variety of sectors and jurisdictions.

Co-creator and partner, Donny Surtani said they had been “extremely pleased with the results of this work so far”.

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“We saw this as an opportunity to improve the process of decision making and choose careful analysis over gut feel”, he continued.

“The team’s fusion of quantitative techniques with legal analysis has been the key here”, Mr Donni noted.

The firm’s global head of disputes practice and the firm’s Asia managing partner Justin D'’gostino called it “an exciting, innovative development for our global disputes practice”.

“Clients want us to help them navigate risk effectively and their feedback on the Decision Analysis service has been universally positive so far,” he continued.

“We are looking forward to rolling it out more widely with our clients.”