BENCHMARKING LAW FIRMS' COSTS AND EFFICIENCIES

To reduce legal fees, enhance litigation management and improve legal cost control efforts, Accountability Services reviews legal bills to obtain benchmarking and comparative data. Benchmarking is the process of finding, adapting and implementing outstanding practices. Unlike legal auditing, the goal is not finding and correcting inefficient practices. Rather, the goal is isolating superior performances that can be shared by all of your outside counsel. Benchmarking can be used to compare and measure one organization or individual against an ideal standard or exemplary model. It is a systematic and ongoing measurement process that strives to identify the best in class. Through benchmarking, companies can improve the cost-effectiveness of all law firms, target areas in need of improvement, achieve realistic cost reduction goals and show how even the best can become better.

Benchmarking reviews address:

	Legal Billing Rates and Blended Rates
	Legal Billing Methodology
	Law Firm Staffing Policies
	Law Firm Efficiency
	Law Firm Management Style
	Complexity of the Matter

A benchmarking report that contains an analysis of these components gives a company the opportunity to:

Encourage law firms to be more efficient than           "average"                    

Identify law firms and individuals in need of   improvement

Determine if legal expenses are "out of kilter"

Create realistic legal budgets based on historical data

Intelligently explore alternative legal fee arrangements

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