It shouldn’t take feats of strength to cut legal spend.
New clients sometimes come to us like George, in some level of exasperation. They all invariably possess a level of frustration stemming from a strained relationship with their outside counsel. (We even sometimes listen in on real-life airings of grievances.) Of course, it all stems from outside counsel continuously increasing rates without justification or controls.
Bodhala’s mission is to deliver groundbreaking legal technology solutions to empower teams to analyze, interpret and optimize outside counsel spend, trailblazing a new era of legal market intelligence with real transparency, real accountability, and real control. Working with forward-thinking general counsels at leading Fortune 500 organizations we’ve learned some lessons along the way and want to share with you four hazards.
To overcome difficulties with outside counsel, it’s important to lay down some ground rules at your next annual review to ensure you’re the master of your domain. When crafting future billing guidelines with outside counsel, consider these fixes to four potential hazards:
HAZARD 1: Outside counsel submits bills full of “block billing” entries
HAZARD 2: Outside counsel makes inappropriate staffing decisions
HAZARD 3: Outside counsel regularly submits rate increases
HAZARD 4: Outside counsel doesn’t provide timely data, or no analytics are being enabled or monitored
The Bodhala Solution: Download Four Billing Guidelines You Need With Your Outside Counsel to learn strategies for overcoming these 4 hazards with contract boilerplate language.