LexisNexis® Counsel Benchmarking

Control legal spend and run your law department efficiently.

Anticipate the cost of potential litigation with analytics on matter duration, matter costs, hourly rates and alternative fee arrangements.

How can Counsel Benchmarking help you make informed decisions that improve your legal department’s value to the organization?

  • Analyze trends then drill down to firm size, location, matter type and timekeeper level
  • Implement best practices to ensure your matters are being managed efficiently
  • Select the best representation at the best rates
  • Identify appropriate and cost-effective alternative fee arrangements

Control Legal Spend

  • Negotiate the best representation at the best rate by leveraging aggregated e-billing and matter management benchmarking data derived from invoices from nearly 6,000 law firms over 80,000 timekeepers and 2 million actual, anonymized invoices covering 300,000 matters.
  • Rely on alternative fee arrangement and outside counsel spend analysis to determine appropriate and cost-effective fee arrangements.

Improve your organization's performance

  • Gain efficiencies and improve legal spend management with vital insights into comparative data across the legal industry.
  • Set annual budgets and forecast future spend based on industry data.
  • Manage spend by selecting the best law firm for specific matter.

Make more informed business decisions

  • Quickly analyze and manipulate benchmarking data by law firm size, geography, industry, matter type and timekeeper level.
  • Leverage key trends or outliers to reduce legal spend, improve matter management or continue your current course.
  • Counsel Benchmarking integration on Lexis Advance® provides one essential solution to store the information in work folders, save searches, export, print and email reports. The visual interface guides users to relevant data and is displayed in charts and graphs for fast analysis.
  • Legal Spend Benchmarking Snapshot
    Quickly assess industry hourly rate costs by timekeeper, metro area and matter to spot trends and inform your strategy.
  • Hourly Rate Benchmarking
    Arm yourself with detailed hourly rate spend by role, company size, geography and company size.  Refine data using the leading-edge research and productivity solutions on Lexis Advance® to pinpoint the exact information you need.
  • Matter Benchmarking
    Cross reference hourly rate benchmarking with matter statistics for a complete analysis.  Matter statistics provides legal spend insight by hourly rate, total matter hours, total billings, staffing, expenses versus legal fees and duration.  In addition you can refine the date by company size, category and more.
  • Alternative Fee Arrangements
    Determine how many and what types of matters are handled through alternative fee arrangements by company size, industry, law firm and more. 
  • Consider combining LexisNexis® Verdict & Settlement Analyzer with LexisNexis® Counsel Benchmarking for a powerful litigation management solution—all integrated on the Lexis Advance® platform.
  • Consider combining LexisNexis® Verdict & Settlement Analyzer with LexisNexis® Counsel Benchmarking for a powerful litigation management solution—all integrated on the Lexis Advance® platform.
  • LexisNexis® Counsel Benchmarking pairs with LexisNexis® Verdict & Settlement Analyzer to help general counsel, legal operations directors and litigation practice group leaders determine litigation strategy.
  • By using insights from the industry’s largest collection of verdicts and settlements along with rate and matter benchmarking data, attorneys can compare the expense of litigating versus settling a matter.

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