Altman Weil published the 2016 edition of its Chief Legal Officer Survey overnight Australian time. I may well post some more of my thoughts on this year’s content in the coming days, but what I wanted to share with you immediately is what I consider to be one of the most damning charts I have ever seen as it relates to business development, legal spend, and client relationship management:
That’s right, when asked the question:
Considering the ten law firms that receive the largest portion of your outside counsel spend, in the last 12 months how many of those firms have provided you with an analysis of spending data that was useful to your law department?
An overwhelming majority of CLOs (73%) responded “none”.
So, if you work for a law firm looking to differentiate your services; then the answer is it really isn’t that difficult.