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Using Data Science for Legal Services Procurement

Maturity In Metrics: Applying Data Science to Legal Services Procurement

An ever-widening array of new data analytics tools and dashboards are empowering legal departments and their procurement teams with a wealth of data driven insights.

Summary

Data-driven insights can be utilized to help uncover opportunities for savings and accelerate value through enhancing outside council relationships and performance.

Watch this on-demand Webinar where we examine how corporate legal departments are leveraging these advanced data analytics tools and techniques to enable improved understanding and more informed decision making across all stages of the procurement journey.

Discussion topics include:

  • Cycle Time: Specifically focused on intake to resolution and what should be measured across these key phases of the journey, such as turnaround time on matters and how quickly counsel can resolve litigations, negotiate contracts or close a deal
  • Budget/Efficiency: % variance to budget
  • Spending by Matter Type: X amount as a % of total legal costs
  • Recoveries: By In-House, External Counsel by currency amount
  • Outside Counsel Evaluations: Use of KPIs for Law Firm Performance Ratings

Watch This Webinar

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