Benchmarking
The fundamental first steps of improving any function is to define, measure and analyse its performance. Smarter Law Solutions is the exclusive advisory partner of the Association of Corporate Counsel, which produces the largest legal performance benchmarking data set in the World. Smarter Law Solutions CEO Trevor Faure, explains the Benchmarking proposition we provide our clients, the ACC partnership and our definitive improvement approach in 2 short videos.
ACC Benchmarking
Like all products, corporate legal department work is a combination of resource inputs and result outputs. The inputs are the quantitative spend on legal expertise (internal and externally), the number of individuals deployed, their qualitative expertise and any consequent liability costs to the business. The outputs are the qualitative and quantitative outcomes: the amount of legal work covered, the levels of compliance achieved and the degree of client satisfaction generated by the manner in which the work is carried out.
Smarter Law Solutions utilises Association of Corporate Counsel Benchmarking to provide analysis of the “bottom line” of this triangle, namely the “make vs. buy” balance between in-house and external resources and the appropriate size of the legal department and spend for the specific size, geographical footprint and niche sector of your own business.
An overall "ABC" guide to using Legal Benchmarking is provided here:
The ABC of Using Legal Benchmarking
"Why benchmark at all? Our company is profitable!"
"Why does it matter to operate optimally? HR doesn't. Finance doesn't."
"Can I trust benchmarking? Our company is unique."
"How can I justify hiring a consultant? My boss will think I can't do my job!"
Read the article by Trevor Faure, CEO, Smarter Law Solutions, in the ACC Docket to learn helpful Transformation Truths about "Benchmarking Hesitancy":
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