Spend Management and Analytics
External Legal Spend Assessment
Law departments are increasingly expected to function as a business unit rather than a cost center; 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 what is often the largest and most unpredictable aspect of spending – outside counsel and vendor fees.
Leveraging Consilio’s Sky Analytics platform, our consultants perform an analytical deep dive into external spending, and help identify tangible opportunities to take control. Examples of such opportunities include:
- Analytical support and cost savings models for alternative fee arrangements, competitive hourly rate proposals and enforcement of billing guidelines
- Aligning work to the right firm, at the right price point based on value received
- Revamping of the approach, processes and technology utilized to manage outside counsel on an on-going basis
Outside Counsel and Vendor Management
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. Consequently our approach to designing outside counsel management programs is value based, and promotes disciplined processes and financial management, that can benefit both the law department and law firm when implemented with a focus on partnership and collaboration.
Our team works with our clients to identify, design and implement the components of an effective outside counsel management program, 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