IMPACT®
2011 IMPACT Benchmarking Survey
The 2011 IMPACT Benchmarking Survey is now closed and the results are being analyzed. Huron Legal and The General Counsel Forum thank all organizations that participated.
The Survey results were recently presented at the annual conference of
The General Counsel Forum. Click
here to read a summary of those results.
If you did not take the survey, but would like to purchase a summary of the 2011 IMPACT Benchmarking Survey results, please contact
Joy Saphla.
Huron's IMPACT SolutionThere are traditional cost cutting tactics, such as internal headcount reductions and outside counsel rate reductions, and then there are impactful cost control techniques that take into account short- and long-term needs, as well as quality of work, and deliver sustainable results. Results that are proven and data driven; results that make an impact.
Recognizing the difference between traditional tactics and impactful cost control techniques suited for attaining of your goals can be difficult. Huron can help. Our unique knowledge of law department cost control strategies, combined with the insight gained from working with hundreds of general counsel and their teams, gives us the tools to assist your department achieve significant and sustainable results - fast.
You spoke. We listened.According to a recent survey conducted in collaboration with the Association of Corporate Counsel, controlling outside counsel costs is a top priority for general counsel. At the same time, a separate study revealed that e-discovery costs tripled in 2009¹. Additionally, many legal departments feel they have spent more time on regulatory investigative requests and enforcement matters over the past three years.² Facing these cost control challenges, implementing traditional tactics such as cutting outside counsel rates, reducing internal headcount and reducing spend on operational effectiveness projects no longer produce results required to ease the cost pressures on general counsel. It’s time for Huron.
Not every problem is a nail. We have tools.The IMPACT solution is like a toolbox. It is an integrated cost-reduction service designed specifically for law departments where the targeted savings is determined cooperatively. Our fees can be based on a percentage of savings, or on time and materials. Depending on how you choose to work with us there may be no upfront costs - we don’t get paid until you save money.
As a service, the IMPACT solution approaches cost control in a systematic way using drivers, enablers and calibrators to address costs across key areas, including in-house and outside counsel sourcing, workload analysis, budgeting, and process and technology. The Huron team will conduct a comprehensive analysis and make custom recommendations based on the data gathered, the law department’s objectives and our industry knowledge. Together, we will develop an action plan.
With the action plan in place, the IMPACT team assists you with program management and the methodical implementation of cost control strategies. Following implementation, your department will be able to point to impactful results such as cost reductions ranging from 15 to 40 percent, as well as a projection of future annual savings. And with our results-based approach, these savings can go directly to the corporate bottom line.
Our team of JDs, MBAs, business process experts, and technologists with deep industry experience helps clients solve challenges related to the business of law. We have experience working with hundreds of general counsel on thousands of engagements, and have conducted successful cost savings initiatives at some of the world’s largest legal departments saving tens of millions along the way. Use our insight to achieve similar results for your organization.
¹ Cynthia Cotts. “U.S. Companies’ Electronic-Discovery Spending Tripled in 2009.” October 2009. http://www.bloomberg.com/apps/news?pid=20601103&sid=a_qD_YdAZA7o
² Fulbright & Jaworski LLP. “Fulbright’s 6th Annual Litigation Trends Survey Report.” October 2009.