BENCHMARKING LAW FIRMS' COSTS AND EFFICIENCIES
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