The recent 2016 Altman Weil Chief Legal Officer survey revealed CLOs across the country are continuing to embrace the role of change agents in the profession, wielding their buying power, leveraging technology and process efficiency, and outsourcing to alternative providers — all to build a more effective and flexible legal function. Based on feedback from more than 330 corporate legal departments, the survey provides insight on paths to dramatically improve results… and where there is still room for improvement.
Four bits of information from the survey particularly stood out to us here at DSi because we hear them regularly from our corporate clients:
- “…[57%] of all law departments report that they outsource some work to non-firm vendors (up from 43% in 2012).”
The two most likely outsourcing targets are eDiscovery and document review, areas in which DSi is working with more corporate clients than ever before. With our holistic approach – deploying technology that has been recognized nationally as best in the industry two years running, focusing on life-of-project costs, committing talented team leaders to clients and investing in the culture of our company – we have a 95%+ client retention rate.
- “The approximate total dollar value of work shifted from law firms to non-law firm vendors in the last 12 months is $754,644.”
Many law firms tout robust eDiscovery capabilities. More often than not, their tools, processes and security protocols aren’t as precise as those of us who focus our operations in these areas.
- “While 39% of law departments report collecting and analyzing management metrics to improve efficiency, only 6.6% report getting value from those efforts.”
Why gather data if you aren’t going to use it to better your results? Through the use of best-in-class artificial intelligence and analytics, we provide objective metrics to justify and improve processes. We understand the data and how to use it to improve… immediately, not just somewhere down the line.
- “When asked how many of their top ten law firms have provided useful spend analysis to the law department, 73% of CLOs reported none of them had.”
DSi always provides transparent reporting and ROI analysis — we win the right way and are always striving for even better results. For example, while our prior tracking methods were robust and straightforward, we saw room for improvement and are rolling out a new dashboard with real-time insight on spend and key efficiency measurements.
Contact us to learn more specifically about how we engage with and provide value to our corporate clients.
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