Source: Thomson Reuters
By Elizabeth Duffy
“As we examine the metrics that a corporate law department can gather about its spending on legal services, the picture of the department’s real value becomes clearer
The metrics collected and analyzed by corporate law departments can provide insight to a much wider audience than that within the department itself. As that data gets presented to other departments, senior leadership, and the board of directors, the story it tells defines the value of the law department.
Unfortunately, our research shows that most legal departments are under-utilizing metrics, leaving the true value that the department delivers for the overall business hidden.
Each year, the Thomson Reuters Institute interviews about 2,000 general counsels. This year, we found that about 90% of those said their law departments are collecting formal performance metrics, up from 75% eight years ago. Further, one of the four key areas of strategic…”
Read full article: https://www.thomsonreuters.com/en-us/posts/legal/legal-success-metrics-spending/
