Telling Stories & Taking Action: Using Data to Explain Legal Cost Control and Identify Opportunities for Improvement
For many organizations external legal spend is akin to a Brothers’ Grimm dark forest; its outline is known, but the details are hidden from us. But knowing the details, what is working, what could be optimized, and how we measure up against today’s standard of external spend management is a key part of practice management. It’s also fundamental to telling the story of the legal department to those outside it and the great work that has been done to control costs over the years.
In this Webcast we will explore what a Legal Spend Assessment can reveal about your external legal services spend, and look at some of the most common challenges the data presents for many departments. We will review:
- The different “lenses” used to assess data: how spend is spread across counsel; comparative rates; partner leverage; and associate “churn” to name but a few;
- How the data should be cut – for example: by region, by practice area – so as to ensure the conclusions are meaningful, and
- How the data can be used to: tell the story of and highlight cost control measures already in place; and build an actionable, prioritized and costed plan of how to tackle the opportunities identified.
Matt Todd | VP, Legal Business Solutions, Elevate
Kristen Cook | Assistant General Counsel, 7-Eleven
Tues, Sep 25
9am PDT • 12pm EDT • 4pm GMT
Hosted by ACC