a call to action: making your legal metrics count
TRANSCRIPT
A Call to Action: Making Your Legal Metrics Count
How to move past data collection and gain real value
December 14th, 2016#LegalMetrics
LLMinc.com
Introductions
Raquel TamezCLO & General Counsel
Lindsay StevensVP of Technology
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LLMinc.com
Agenda
• The Big Picture: Why Metrics Matter
• Getting Started: Questions to Consider
• Straight from the Source: Where to Collect Metrics
• What to Track: Types of Metrics
• Tying it All Together: Analyzing & Reporting
• Next Steps: Taking Action on Data
#LegalMetrics
LLMinc.com
The Big Picture: Why Metrics Matter
• Improve efficiency• Cost predictability and forecasting• Increased transparency• Improved project management
• Select, manage and evaluate outside counsel
• Manage and show success of in-house team to the business
• Build stronger client relationships
• Deliver information to help maintain profitability and competitiveness
Corporate Counsel Firms
Both
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LLMinc.com
LLM ”State of the Legal Industry” Survey
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LLMinc.com
Getting Started: Questions to Consider
• What areas are painful for your organization?
• What is available to track?
• Are the metrics actionable?
• What does leadership want to see?
• How frequently do you want to collect/report the data?
• How to encourage adoption and compliance of data collection.
What gets measured, gets managed.Peter F. Drucker
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LLMinc.com
Straight from the Source: Where to Collect Metrics
Monthly reportsFeedback from
clients (internal & external)
Matter management and
budgeting systems
Internal evaluations and scorecards of outside counsel’s
performance
Spending reports and detailed
budget reports for matters
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LLMinc.com
What to Track: Types of Metrics
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LLMinc.com
Tying it All Together: Analyzing & Reporting
Analyzing• Frequency of analysis• Who is your audience?• Iterate on which metrics are
being tracked and reported
Reporting • Rolling data up in a meaningful
way• Software/visualization of the
data• Report success/failure• Success of process and how it
evolves
Don’t measure anything unless the data helps you make a better decision or change your actions.
Seth Godin
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LLMinc.com
Next Steps: Taking Action on Data
Report, analyze, validate, institute change(s), plan and reference historically
Assess lessons learned, identify training opportunities, make strategic decisions
Evaluate relationships (internal or outside counsel) to ensure value is being provided
Inform future decisions around RFPs, bids, AFAs, etc.
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Questions?
Thanks for joining us!
Stay in touch!
www.LLMinc.com
@LLMinc
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