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2017 Altman Weil Law Firms in Transition Survey

Source | 2017-06-27T00:20:42+00:00 Jun 7th, 2017|Categories: Post|Tags: , , , |

Some takeaways: 1) 2/3rds of firms report losing business to corporate law dept insourcing; 2) 19% firms report alternative providers taking business (40% see as threat) ; 3) 94% say an improved focus on practice efficiency is a permanent trend but only 49% chasing their approach; 4) LPM not yet generating convincing results BUT; 4) only 30% of firms say they link AFAs with the way work is staffed and delivered; 5) 49% using technology to replace human resources with 85% think it will be permanent trend; 6) 7.5% firms reporting using AI and 29% exploring their options.; 7) 50% report active innovation projects/efforts (e.g.,technology and data analytics; new business ventures, efficiency, pricing and staffing improvements; client engagement and retention.)

More Companies Consolidate Outside Legal Work: LexisNexis Report

Source | 2017-06-26T18:54:06+00:00 Mar 10th, 2017|Categories: Post|Tags: , , , , |

A trend in which legal departments are cutting the number of law firms that handle outside legal work does not appear to be slowing, according to a new study. The LexisNexis CounselLink Electronic Legal Management Trends report—which assesses billing data—showed 62 percent of the companies included in the study had 10 firms or fewer account for 80 percent or more of their outside counsel fees in 2016. The number of companies consolidating their outside legal work increased from 2015, according to the report.

Six Things Legal Professionals Could Care [More/Less] About

Source | 2017-07-05T11:37:28+00:00 Dec 15th, 2016|Categories: Article|Tags: , , , , , , , , , , , , , , , |

Reflections on value, purple people, (right)sourcing, change management, checklists, and Artificial Big Block Data Machines. The year comes to a close. Legal professionals in law firms and departments sprint [...]