Services | LEGAL SPEND MANAGEMENT
LEGAL SERVICES ASSESSMENT
Proper legal spend management is a multifactorial endeavor, requiring robust billing guidelines, strict guideline compliance and enforcement, and constant vigilance over billing practices from legal management. One of the most effective law firm services available to firms seeking to enhance their legal spend management is a legal services assessment.
Legal Cost Control provides a one-time in-depth analysis, or “snapshot”, of a firm’s current billing practices and legal cost management. It’s a data-driven, analytic legal bill review, flagging possible billing issues and tracking compliance with existing billing guidelines.
This legal services assessment allows Legal Cost Control to identify problematic billing practices that may have taken hold in the firm. Legal Cost Control then provides clients with data regarding the legal review, along with customized recommendations to enhance performance and improve metrics across the firm. Legal Cost Control also provides communication, reporting activity between personnel and the firms.
The Legal Services Assessment includes the following law firm services:
- On-site review of legal bills or accounting files at client location.
- Utilization of proven sampling techniques to provide valid results and conclusions.
- Provides a “snapshot” of comparative firm billing practices.
- Provides data regarding frequency and quality of client staff and firm communications (i.e. status reporting, significant event reporting, legal fee and expense authorization).
- Provides data on the relative efficiency and billing practices of the firms.
- Allows custom recommendations to firms regarding inefficient billing practices.
- Provides data and information for customized client staff training.
- Identifies efficient firms and billing process best practices.
- Provides basis for custom billing guidelines introduction to firms. Specific examples from firm billing and matter management
- practices allow leverage in initiating dialogue with firms.