Metrics to Measure a Legal Department’s Performance

In-house legal departments are pulled in many different directions and must navigate complex regulatory and compliance issues every day. Many organizations lack the resources to assess their legal team’s performance, let alone implement the changes that will make them more efficient. Fortunately, an alternative legal service provider (ALSP) like QuisLex can provide insights into your legal spend and recommend solutions. Learn more about using metrics to evaluate your legal counsel’s performance.

The Importance of Legal Spend Management

Legal spend management is simply the process of tracking, analyzing, and reporting on internal and outside legal costs. In practice, legal spend management can be a major challenge for in-house counsel since every firm has different billing practices and guidelines. That makes this type of management system critical for better understanding the costs incurred by your legal department. The benefits of legal spend management include:

• Cost savings: Tracking your spending metrics can help you find opportunities to cut costs and save money.
• Improve forecasting: With historic data, you can better predict future spending and develop more accurate departmental budgets.
• Efficiency: Using legal spend management helps you speed up invoice processing time and minimize billing errors.

At QuisLex, our staff offers the resources and expertise to help legal teams work more effectively and help our clients implement workflow processes to carefully review invoices and track key performance indicators (KPIs).

Customized Workflow Design

Because QuisLex takes a cross-functional approach to our work, clients are supported by experienced attorneys, auditors, project managers, process experts, and technologists. We combine legal and technological expertise to create customized invoice review programs that align with your billing guidelines and monitor key metrics, such as:

• Billing variances
• Expense ratios
• Budget variances
• Adherence to project plans

To make reporting easier, QuisLex can develop visual representations of your metrics by building scorecards and dashboards. Our team can also help you:

• Define your strategic KPIs
• Develop internal billing guidelines
• Review invoices
• Track historic spending
• Use analytics for predictive modeling
• Train staff on billing best practices

We have expertise in multiple platforms and can tailor our services to fit your needs. Our staff can make improvements to your existing platform or recommend new legal software that meets your needs.

The QuisLex Difference

QuisLex blends the expertise of a traditional law firm with cutting-edge technology to give your company a competitive advantage. With over 1,000 permanent employees on staff, QuisLex can quickly scale up our services to support clients with personalized service. In addition to legal spend assistance, our managed legal services include:

• Contract and document review
• Data Breach Review
• Mergers and acquisitions support
• Privacy and Compliance program design and monitoring
• Legal operations support

Plus, our clients can rest easy knowing their proprietary information has the highest levels of protection. QuisLex holds ISO certifications for both information security and quality management and is HITRUST CSF Certified. With any workflow system we implement, we focus on knowledge transfer protocols so that your staff has the appropriate training and support they need.

Drive Better Outcomes with QuisLex

If your company is looking for the right balance of expertise and efficiency, choose QuisLex. As an ALSP, we are committed to helping every client achieve more predictable outcomes while finding cost savings and opportunities for process improvements. QuisLex supports Global 100 law firms and large corporations all over the world. In addition to our headquarters in New York City and Hyderabad, India, we have satellite offices in:

• Washington, D.C.
• Chicago, Illinois
• London, England
• San Francisco, California
• Dallas, Texas
• Berlin, Germany

QuisLex is proud to be nationally certified as a Minority Business Enterprise by the New York & New Jersey Minority Supplier Development Council. We also hold a Band 1 ranking in Chambers and Partners’ rankings of service providers within the alternative legal services industry. For more information about our legal managed services, contact us today.