“When we followed up with a question about which outside counsel data management techniques are most effective, the number one response was to enforce these guidelines. To set standards and then to fail to enforce them is an obvious and also unnecessary omission and one that should not stand in any law department that is serious about effectively managing law firms,” according to the Altman Weil report.
Failure to enforce these guidelines speaks to the need for a strong performance management program for outside counsel. Matter management tools can help with the low-hanging fruit of cost savings, but they can’t determine whether or not a law firm delivers in more subjective areas to support the company’s business objectives.
Until recently, it was not possible in the legal world to easily quantify
More importantly, benchmark the more subjective aspects of law firm performance that are absolutely critical to the effective management of firm and lawyer relationships. But technology has created opportunities to do just that. The arrival of new cloud-based legal tech services ensure that meaningful, comparative outside counsel performance data will now allow general counsel to make side-by-side comparisons of all providers, whether they are entire firms, specific practice groups, individual attorneys or alternative legal services. Data will level the playing field.
What else might this valuable data uncover? As Beckett shared, with the creation of a database built on customer evaluations of law firms and lawyers, there is no limit to the possibilities. For example, do the biggest law firms deliver the best outcomes? Do certain partners better understand their clients’ needs? Do firms that embrace diversity deliver greater levels of innovation and strategic advantage for their corporate customers?
There are all kinds of discoveries Qualmet as well as their customers will make in 2018. Data truly has the capability to upend the status quo!
Qualmet is a cloud-based SaaS provider. Offering customers a single sign-on platform to objectively as well as easily evaluate the quality of service. Services provided by their outside counsel as well as alternative legal service providers. Many of the world’s largest law firms as well as corporate law departments collaborated in the development of Qualmet. The Qualmet tool uniquely positions users to quickly as well as easily measure the value delivered by their service providers. By coupling industry-aligned evaluation as well as legal metrics with objective benchmarking capabilities, Qualmet helps customers define and drive meaningful cost savings as well as value in their organizations. Qualmet’s searchable database of evaluated service providers ranked based on objective metrics is the first of its kind in the legal industry. Know Where You Stand™. Let Qualmet help you drive sustainable and meaningful value for your organization. Follow us on Facebook for updates.