Results ❯  Legal & Compliance Consulting Solutions ❯  Gaining More Value from Outside Counsel

Situation

The law department for a large international construction and pipeline company was operating in a highly decentralized environment where both litigation costs and volume were rising steadily. Additionally, there were no consistent protocols for selecting and managing outside counsel and other legal support vendors.

Solutions

Our professionals:

  • Analyzed legal spending to identify which law firms were being used most frequently and to identify opportunities for immediate savings and efficiency improvements.
  • Uncovered that firms were being sourced by individual attorneys and business clients in a reactive and uncoordinated manner, driving up costs and administrative challenges.
  • Developed standardized protocols for selecting outside counsel and implemented standard Outside Counsel Engagement Terms and Guidelines to embody the protocols and enforce uniform terms across all legal engagements.
  • Implemented technology-enabled solutions, including electronic billing and financial reporting, to enforce “best practice” engagement terms, provide access to hard data and support informed decision making.

Benefits

The law department gained a uniform, data-driven approach to retaining and managing outside counsel that reduced costs, strengthened forecasting and improved internal communications. The law department also gained a better understanding of the value its firms were rendering and became equipped to engage in negotiations for alternative fee arrangements from a position of strength.

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About

Morae Global is trusted worldwide to transform legal, risk and compliance through results-oriented and technology-enabled solutions, and reinvent the legal function as an efficient and integral part of the business value chain.

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