The LegalEye® Analytics Framework takes a holistic approach to spend management. Below are examples of how we assess portfolio effectiveness and efficiency in the context of docket, financial and operational performance.
- Identify dormancy (matters with months during which there was no outside counsel activity) and assess their impact on matter and docket duration: Is such dormancy unavoidable (e.g. subject to judicial schedules), or is it controllable?
- Compare phase lead times by matter type and other dimensions: Notwithstanding the judges’ schedules, if it takes an average of 16 weeks for outside counsel to begin Discovery, how can this lead time be compressed? How soon after Discovery begins does outside counsel initiate Dispositive Motions? Do results vary by matter type? If so, why? Which firms have the largest differential between these milestones?
- Evaluate how in-house counsel’s matter management approach affects matter, phase and task duration: How long do cases stay on the docket when in-house counsel functions as the lead attorney and use outside counsel sparingly? Do such results differ significantly from matters for which outside counsel functions as lead attorney?
- Analyze and compare average matter costs by matter type and in-house attorney role: Aside from case complexity, what else is driving these cost differences?
- Compare settlements and the net legal costs incurred to achieve them with inherent, assessed and expected exposure: Were the net legal costs justified?
- Assess the average cost of tasks and phases for a given matter type: What should be the baseline? How can this information be used to improve budget accuracy?
- Analyze rates vs. experience (via bar admission dates) to determine whether hours billed under negotiated blended rates were dominated by relatively inexperienced attorneys: If so, did duration suffer? Could a matter have been resolved sooner by more experienced attorneys for the same cost?
- Understand how labor mix affects matter cost and duration: Identify matters staffed with new associates and determine how prevalent their time is relative to others. Is their time inordinately high, or are their tasks sufficiently limited to value-added activities?
- Identify the firms with the highest number and dollar amount of billing adjustments. What can be done to help them increase compliance with billing guidelines?