If you missed it, the recently published ‘The Legal Spend Landscape for 2022‘ by Apperio sets out the ‘Top 5 Measures Of Value‘ in the eyes of the survey respondents – aka, your clients!
In order, these included:
- Outcome of legal matters – 66%
- Hourly cost per lawyer – 60%
- Spend forecast vs Actual spend – 46%
- Risk exposure – 43%
- Overall spend by law firm, matter type or business unit – 40%
Interestingly, in the same Report, the Top 3 answers to what the ‘Most Effective Techniques For Controlling Legal Costs‘ were:
- Structuring more legal work under AFAs – 74%
- Utilising specialist software for monitoring and maintaining cost – 63%
- Centralising all legal spend through the legal department – 49%
And I very much suspect that the last of these – “Centralising all legal spend through the legal department” – is going to be a post in the near future, either here or on my other blog.
As usual, comments are my own and I welcome feedback.
Have a great week all.