Will 2018 be the year that GCs break free of their dependency on “safe” law firms and align their businesses with the best providers – regardless of cost or size? Legaltech News recently gathered predictions on where the legal industry is headed from those that are looking to disrupt it. Qualmet CEO James Beckett offered his thoughtful analysis on how general counsel might use data to uncover strategic law firm partnerships.
“The widespread availability of meaningful, comparative law firm as well as lawyer performance data will allow side-by-side comparison of ‘the biggest and the best’ with the little-known up-and-comers. The data will upend the status quo by showing that female law firm partners better understand their customer needs and firms that embrace gender diversity deliver greater levels of innovation and strategic advantage for their corporate customers. For the first time, corporations will truly be able to implement pay for performance, and the status quo will be forever altered.”
To some, Beckett’s prediction may seem closer to 2028 than 2018. But the picture he paints of the future is not so distant. How can this be? The demand for performance data among buyers of legal services is growing rapidly. What’s driving this demand? More people have recognized the need to get more business value from their law firms. This value goes deeper than billing guidelines, matter management or other basic efficiencies. Currently, 79 percent of departments indicate they provide standard billing as well as management guidelines to their law firms; however, only 60 percent say they routinely enforce the guidelines provided, according to Altman Weil’s 2017 Chief Legal Officer Survey
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.