Spend Management & Analytics
Optimising law department processes to provide insights on spend
Legal Spend Analysis
Reduce legal spend by 10%-15% and improve service quality.
Law departments are increasingly expected to function as business units rather than cost centers. Department leadership and legal operations managers face the challenge of delivering high quality, complex legal services at an efficient cost. Consilio understands this challenge, and is equipped to help departments control both internal and external spend, from internal staffing models to optimising outside counsel relationships.
Consilio’s services include evaluations of internal workload, outside counsel management, service delivery models, technology and business processes. From there, our expert team empowers you to:
- Rationalise and prioritise the services delivered to internal business partners.
- Develop a staffing model that allocates work between internal lawyers, non-legal staff, and outside counsel and balances need, cost, and risk.
- Optimise processes and address gaps through technology, tools and templates.
- Implement and manage the required changes across your department and organisation.
The Consilio approach has helped teams reduce spend by 10% to 15% without compromising service quality.
External Spend Optimisation
Create a customised road map to optimise external spend.
Consilio’s External Spend Optimisation service is specifically designed to deliver impactful results. We provide clients with insight into how to effectively reduce outside counsel cost and optimise the value provided. This fixed-cost engagement provides law departments with both strategies to maximise the value delivered by outside counsel and data to drive favourable rate- and staffing-model negotiations that do not put external counsel relationships at risk.
Clients provide us with their eBilling data, external counsel management guidelines and process documentation, key department metrics, and one day of key stakeholder interviews. We analyse billing data within Sky Analytics, and within in three to four weeks, clients receive:
- Spend Optimisation Findings: analyses your top ten firms and shows benchmark comparisons versus your peer set.
- Spend Optimisation Recommendations: provides tailored recommendations for spend rationalisation, savings expectations and potential changes to outside counsel guidelines and management process.
- Prioritised Action Plan: recommends steps to make progress and includes high-level effort, timeframe and resources required.
Clients also receive the following resources across the year:
- Sky Analytics Hosted Licence: provides a one-year licence to our analytics platform, pre-loaded with up to 24 months of your billing data and pre-configured push reports.
- Quarterly Progress Checkups: includes progress evaluation refreshes to Sky Analytics data and the prioritised action plan, as well as consultative guidance.
Clients who have implemented our tailored recommendations have reduced external spend and optimised the value received from their law firms.
Outside Counsel and Vendor Management
Implement a data-driven, outside counsel management programme that contains costs and increases value.
Consilio supports a comprehensive approach to outside counsel management, including defined processes and tools to support the entire matter lifecycle – from strategic firm selection to on-going engagement and annual performance evaluation. We understand that the quality of legal services and protecting the integrity of relationships with firms is of high importance and that law department needs are often not met through traditional procurement tactics.
Thus, we employ a value-based approach to designing outside counsel management programmes– promoting disciplined processes and financial management–that can benefit both the law department and law firm.
Our team works with our clients to identify, design and implement the components of an effective outside counsel management programme, including:
- Outside counsel management and billing policies
- Firm selection including RFPs and preferred provider panels
- Budgeting, AFAs and legal project management
- Spend analytics and operations
- Annual performance evaluation and negotiation process
By implementing a data-driven, outside counsel management programme, our clients have realised significant cost savings and increased value from their law firm relationships.