Reduce costs. Optimize expectations. Improve performance.
Whether you’re a corporation or a law firm, helping you reduce costs, optimize expectations and improve performance is at the heart of everything we do.
For just about every organization, reducing and controlling legal costs is a perennial goal. LegalEye® Analytics take a reasoned, measured approach with a long-term view of value, which is why the LegalEye® Analytics Framework for Law Departments focuses on a holistic view of docket, financial and operational performance. When it comes to reducing internal costs, LegalEye® Workflows applies Lean/Six Sigma methodology to improve efficiency. By eliminating rework and errors, attorneys, managers and staff can increase their job satisfaction by increasing their capacity to:
- Resolve matters
- Insource certain legal work
- Strengthen compliance and risk management
How would accomplishing the foregoing increase your ability to do more with less?
Our Financial and Operational Analytics for Law Firms help partners bridge the gap between transactional data and actionable information. Find out what billing and cost data is really telling you about capacity, utilization, realization and other key metrics. Leverage LegalEye® Workflows Services to increase the efficiency with which your firm or office delivers legal services. When you truly understand your costs and how your fixed resources can be used more efficiently, you’re in much better position to:
- Win more RFPs
- Increase your firm’s agility in anticipating and responding to changing market and client demands
- Achieve consistent, profitable growth and other firm goals
Expectations never change, right? For corporations and organizations, legal spend is predictable, processes generate expected results and risks are readily identified and mitigated. Internal customers (business functions), risk and compliance managers, in-house attorneys, the general counsel and others in the C-Suite have the right visibility when events transpire and new information comes to light. Likewise, law firms always get paid in a timely manner for all services rendered, partners have updated their firms’ business models to be more flexible in order to respond to pricing pressures and opportunities for growth, and they can accurately monitor staff capacity and utilization.
Would that it were true.
Consider the dynamism of expectations of both stakeholder groups during litigation. Litigation is the only expense that does not orginate from 100% collaboration between a company and its suppliers: Spending $1 million on a marketing campaign, a supply chain initiative or a new customer service platform all present decision makers with relatively stable and predictable environments within which they can accurately forecast the nature, timing and extent of expenditures to achieve acceptable ROI. In each case, the company works with its suppliers to define the project scope, identify resources, establish milestones and take other steps to help ensure success. Not so with litigation, where companies and their outside counsel control only one-third of the pie: The judge controls the timing of hearings, conferences and discovery. Opposing counsel controls the intensity by the number of claim definitions it submits, the number of motions it files or the number of witnesses it chooses to depose.
To optimize expectations is to have the right people, processes and systems in place to anticipate and respond to new events or information, and to raise the visibility thereof to all stakeholders for more timely and accurate decision-making.
Improving performance is having the right people doing the right things at the right time. When law departments know how much matters of certain types and with certain characteristics are going to cost, they can plan and execute with confidence. When in-house attorneys and compliance managers work with line-of-business personnel to embed compliance and other risk management elements into processes, enterprises have a solid foundation for achieving consistent growth.
When law firm partners identify and focus on the right metrics that reflect the new reality of providing legal services, they can set goals and implement plans to achieve them. With the proper alignment of partners, attorneys and support staff, firms can optimize their fixed costs to respond to changing market and client demands.
Improve performance with LegalEye.®