Getting control of your legal spend

In-house legal teams are caught in a tight box on spend, facing a high priority on controlling costs with mostly flat budgets; growing matter volume; and ongoing, double-digit rate increases from outside firms. However, companies with the right tools are using data effectively — both their own historical costs for matters and anonymized industry benchmarks — to find the right outside counsel at the right price for the right work.

Primary takeaways:

• Managing matter pricing more effectively, including the use of requests for proposals
• Effectively using spend analytics
• Focusing on outcomes rather than just costs
• Comparing firms and attorneys' performance consistently
• Enabling data-driven decisions