- As corporate law departments bring more work in-house, a big area of focus is litigation, particularly reducing eDiscovery and data-related costs.
For the first time, law departments are spending more on in-house legal resources than outside counsel. A recent report from the Association of Corporate Counsel and the recruiting firm Major, Lindsey & Africa reported that organizations from the US, UK and over 20 countries reported that 54% of legal spending stayed in-house last year, up from 49% in 2020.
As corporate law departments bring more work in-house, a big area of focus is litigation, particularly reducing eDiscovery and data-related costs. However, taking bringing more work in-house isn’t enough to achieve the aim of cost savings alone.
According to recent guidance from UnitedLex, to drive better business outcomes and lower costs by 30-50%, law departments should use Key Performance Indicators (KPIs) throughout the litigation and investigation lifecycles. Several areas of opportunity include:
As law departments further optimize resources and grasp the power of their data, they move beyond the anecdotal and begin to extract actionable business insights that can reduce the risk of future litigation. This transforms legal from being viewed as a cost-center into a true business partner.
Are you curious about how to measure KPIs to reduce costs and drive better efficiency through data? Download UnitedLex's detailed whitepaper about Optimizing Litigation Management through 6 KPIs.