TAG: Convergence: Lopsider content relating to in-house convergence of external law firms. Subscribe
A Conversation With Six General Counsel
Six general counsel involved with the AdvanceLaw experiment share their thoughts.
An Open Letter From 25 General Counsel
AdvanceLaw is designed by forward-thinking GCs keen to improve the legal market. AdvanceLaw provides customized support to each of the participating GCs, who view us as an extension of their in-house teams.
2017 Altman Weil Law Firms in Transition Survey
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.)
2017 CounselLink Enterprise Management Trends
Recent LexisNexis CounselLink report takeaways: (1) 40% gap between billable rates of largest 50 firms compared to next tier, (2) law firm consolidation increased last year with 62% CounselLink users have 10 or fewer firms accounting for 80% of fees; (3) AFA use shows slight uptick.
More Companies Consolidate Outside Legal Work: LexisNexis Report
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.
Law Firm QBR Review Template
QBR templates used to prepare for annual discussions. This contains quantitative and qualitative data points to discuss to drive value and savings. Available to CLOC members.
The Georgetown/Thomson-Reuters 2017 Report
Financial performance of law firms over the past 10 years has been driven by only one factor: rate increases.
Outside Counsel Cost Management: A View Around The Corner
Outside counsel cost management initiatives are only one part of a legal service delivery strategy. Who should do the work: law firms, LPOs, or internal legal professionals?
Whimsical Mulling, 575 Operations Way
Spring, flowers planted, Diversity, in action, Data makes you smart. Summer in New York, Associates earning, more, AI is coming. The Fall, plant new shrubs, Shiny mahogany desks, [...]
Six Things Legal Professionals Could Care [More/Less] About
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 [...]