Benchmarking
The fundamental first steps of improving any function is to define and measure its key 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.
The ACC-Smarter Law approach
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Members of the Association of Corporate Counsel can find out more about their own benefits at www.acc.com/smarterlaw