Spend Management for the Corporate Law Department

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Learn how budgeting and e-billing can benefit your corporate legal department.

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Spend Management for the Corporate Law Department

  1. 1. Spend Management for the Corporate Law Department Presented by: John Delaney Jim Estep Reyner S. Meikle, Jr., Esq.
  2. 2. CSC – Our Unique Position • CSC is a service company dedicated to reducing risks and costs for our clients by providing: – Corporate Governance & Compliance Services – Litigation & Matter Management Services – Deal & Transaction Support Services – Corporate Identity Protection Services • Our Services are fully integrated with our Monitoring, Workflow, Compliance & Reporting Solutions. • Unified System - One system for entity management, compliance, matter and deal management, collaboration with OSC, reporting and e-billing.
  3. 3. About Reyner Meikle • Attorney and Director of Product Support with CSC • Oversees client implementations of the web-based CSC Matter Management system • Worked directly with over fifty Fortune 500 corporate law departments designing customized training and developing best practice guidelines to be utilized post implementation
  4. 4. The Myth • Law firms will provide accurate budgets of expenses and fees on all matters for the next year and in-house counsel will critically review, analyze, and act on those budgets.
  5. 5. What is a Budget? • A Strategic Plan – More than just how much you are going to spend for a period of time • Understanding and Controlling Costs – Legal Spend Analytics • Enable a cost-benefit analysis • Identify trends – Comparative Vendor Analysis – Identify Stage Gates/Evaluation Points
  6. 6. The Practical Realities Of Litigation • Law firms will work with in-house counsel to estimate fees and expenses • Any estimates are merely educated guesses • Litigation is inherently unpredictable and is difficult to budget – especially at early stages • Discovery is often the most the most expensive aspect of litigation and has many key variables Cost-cutting during the discovery process can often be counter-productive • Later stages of the litigation can often be estimated more effectively
  7. 7. Effective Budgets • State assumptions • Manage budgets on the short-term • Keep it practical, not procedural • Focus on the cause, not the cost
  8. 8. Reducing Costs in a Challenging Economy • Companies are seeking technology solutions to deliver operational efficiencies, lower their costs and mitigate risk • With implementation in a matter of weeks, CSC E-Billing delivers immediate ROI versus 12-18 month implementation period for software implementations
  9. 9. What is the ROI of E-billing? • Companies who implemented an e-billing system saved an average of 10% on their outside legal spending* • How? The savings are generated by: – Streamlining client workflow – Replacing a manual and paper process with an electronic process – Identifying errors in billing • With an annual legal spend of $2M, you can realize $800K-$1.0M in savings in just 5 years *The 2007 ACC/Serengeti Managing Outside Counsel Survey
  10. 10. Our Purpose "We are in the business of making business itself possible.”
  11. 11. Questions & Answers For more information about CSC products and services, please call your CSC Representative or contact: John Delaney Jim Estep jdelane2@cscinfo.com jestep@cscinfo.com 800-927-9801 x3284 800-927-9801 x3385 www.CSCGlobal.com Q&A To ask a question, please type your inquiry into the Q&A panel © Corporation Service Company 2009
  12. 12. About CSC • Privately-held, 110+ year old company headquartered in Wilmington, Delaware • CSC operates offices in the US, Canada, Germany, France and the UK and employs over 1,000 people worldwide • CSC is dedicated reducing risks and costs for our clients by providing: – Corporate Identity Protection Services – Corporate Governance & Compliance Services – Litigation & Matter Management Services – Deal & Transaction Support Services • CSC Matter Management is used by over 220 Corporate Law Departments including more than 70 Fortune 500s. For more information about CSC, please email WebSeminars@CSCInfo.com

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