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Implications of Law Firm Rankings By Joe Howie |
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The Association of Corporate Counsel (“ACC”) is an extremely influential association of exclusively in-house counsel, with more than 25,000 members in over 70 countries. It recently implemented its “ACC Value Index” program in which its members evaluate the law firms that represent them using six criteria:
Then there is the ultimate question, “Good Value, would you use this firm again?” The only choices on this question are Yes or No. Evaluations are then shared with or made available to other ACC members. Non-ACC members, i.e. law firms, don’t get to see the rankings. Implications of Law Firm Ranking. Everyone in a law firm needs to be aware that corporate clients are not just “talking” about wanting better value for their litigation dollars, they’re grading law firms that represent them and sharing that data with other corporations. Litigation support can have a dramatic impact on at least two of the six questions in the satisfaction survey — efficiency/process management, and predictable cost/budgeting skills — as well as the ultimate question, “would you use this firm again?” Two examples:
If you’ve argued unsuccessfully in the past in favor of implementing more efficient processing technologies, you can use the information on the ACC Value Index to renew your arguments and make the case that the time to upgrade is now. If you’re already using modern processing technologies and are purchasing them based on well-negotiated fee structures, you should make sure that the ultimate client knows this. A typical law firm invoice as submitted to the client may not have enough detail or granularity to enable the client to see the good job you’re doing (see the related article, “More Than You May Care to Know about Billing Codes and Invoicing”). For example, without metrics about the volume being handled, document/data management fees, document production fees and litigation support expenses are difficult to compare case-to-case. It may be that in one particular case your firm has achieved remarkable efficiencies and processed, reviewed and produced an exceptional volume of data with terrific metrics in a number of important areas (e.g. collection costs per custodian or the volume reduction achieved by duplicate consolidation, e-mail threading, and e-mail analytics) yet have the highest costs because of the sheer volume or complexity of the data. All that is reported on invoices is typically the dollar cost figures. Make use of client meetings, status reports, invoice transmittal e-mails or letters, and any other communication opportunity you have to provide clients with specific metrics on the job you’re doing. Just the fact that you’re measuring results and working in the right direction may set your firm apart from others. References/Further Reading:
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This article appeared originally in the December 2009 ALSP Update, the monthly publication of the Association of Litigation Support Professionals and is reprinted with permission. Read more about this nonprofit membership organization at www.alsponline.org. |
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For more information, email Joe Howie, Joe@HowieConsulting.com