Legal expense management news for May 3, 2013

The Big Data era comes to the legal profession, as in-house and outside lawyers mine for pricing data, marketing strategies and case predictions.

BigLaw links pricing analysis and project management because a “firm can’t staff a matter without knowing how much aspects of it cost and can’t price a matter without knowing how best to staff it.” (Painfully obvious yes, but progress nonetheless.)

Survey shows that 51% of U.S. companies, and 63% of U.K. companies, use alternative fee arrangements. For the rest, is it true that the billable hour “rewards unproductive behavior, invites abuse, and pits attorneys’ financial self-interest against their clients’ goals”?

Fixed-fee Australian law firm opens Hong Kong office – “core practice areas extend across corporate and commercial, technology telecommunications and IP, banking and finance, regulatory and compliance, litigation, energy and resources and property and construction.”

U.K, panel review news: insurance company invites 25 firms to pitch for corporate governance, M&A, finance, capital markets, litigation and fund management work; and large bank kicks off panel review for EMEA work, incliuding emphasis on “the importance of legal process outsourcing in the review, with law firms seeking positions on the panel required to demonstrate they had sufficient capabilities in this area.” (More on the story here.)

This entry was posted in In-house, Law department tools - e-billing, CMS, metrics, etc., Law firms, Legal expense management, Outsourcing. Bookmark the permalink.

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