Benchmarking with CounselLink® Insight
Use benchmarking data to see how your legal spending compares to those of other legal departments like yours. Some examples of benchmarking data that can be advantageous are hourly rates, AFA usage, as well as matter cost, hours, duration and staffing. Take a look at these metrics to reveal best practices and uncover opportunities for greater efficiencies.
By effectively utilizing benchmarking data you can demonstrate the value of the legal department and enable better decision making, smarter negotiations, and tighter control over your legal costs.
To leverage the power of your data, turn to CounselLink® Insight, an advanced tool for looking deeply into your costs – and for benchmarking those costs against comprehensive rate and fee data gathered from more than 1 million legal invoices.
You'll have the hard data you need to answer important questions about your legal spend, including...
- How much more or less are you paying for given matters compared to nationwide norms? Does it vary regionally? By size of firm? By type of staff?
- Where and when should you be considering alternative fee arrangements?
- What fees should you be targeting in your negotiations based on national trends?
Contact us to learn more about benchmarking data and the comprehensive reporting options that CounselLink Insight can provide to drive better informed decisions. And, once you have the reports, discover how CounselLink Strategic Consulting Services will help uncover the meaning behind the data.