Reducing Costs Through Document Automation for a More Efficient Workplace
CostSavingsSolutionsForCorpCounsel_2009
1. Cost Savings Solutions for Corporate Counsel
Reduce law department costs and increase efficiency
2. Your Business Partner’s Concerns
Are Your Legal Team’s Challenges
Business Partner’s Concerns Your Legal Team’s Challenges
Take Control
• Efficient team work – in-house and outside counsel
• Better due diligence
• Control litigation costs
Uncover All Critical Information
• Comprehensive facts
• Time-saving tools and analysis
• Knowledgeable support teams
Manage Litigation
• Financial and business costs
• Impact on brand and reputation
• Time and distraction
Make Informed Decisions
• Overwhelming data on WWW
• Discern good info from bad
• Complex analysis required
Improve Your Efficiency
• Control all matters
• Manage in-house and outside counsel spend
• Executive reporting on key cases, status, and issues
Expert Guidance on Complex Issues
• Work must be bulletproof
• CEO/Board must be kept informed
• Productivity must increase
Control Costs
• Where is the money going
What is the queue / workload
• Economic pressure
• Alternatives (e.g. offshoring)
Mitigate Risk & Show Compliance
• Globalization
• Pace of new regulations
• Higher fines
• Contracts and transactions
Research Solutions
Litigation Solutions
Compliance Solutions &
Practice Area Solutions
Counsel Management
3. Key Budget Challenges and Cost Control Strategies
Challenges Strategies
Increased demand for law department
services due to rising litigation volume
and regulatory changes
Proliferation of electronic information
greatly expanding cost and scope of
discovery process
Forced budget cuts due to economic
downturn
Ever-changing regulations require
regular monitoring and risk assessment
Moving more work in-house
Utilizing more technology
Implementing alternative fee
arrangements and/or consolidating
providers
Increasing utilization of non-attorney
personnel
4. Strategy: Moving Work In-House
Why How LexisNexis Can Help
Develop cost-effective and sustainable processes
• Roughly 50% of legal
department budgets goes
to outside counsel, the
largest budget item.1
• 75% of corporate legal
departments are facing
budget cuts averaging
11.5% in 2009.2
• Outside counsel spending
is shrinking by nearly 7% in
2009, the first decline in
recent years.3
• Assess and plan your cases, organize your team,
and centralize all critical information and
knowledge in a single place with CaseMap®.
• Control costs and collaborate with outside
counsel as you manage and review the high
volume of data generated during discovery with
Concordance®.
• Get faster access to the most relevant document
sets–at a fraction of the cost–with production-
level imaging and electronic discovery
processing from LAW PreDiscovery™.
• Quickly get up to speed on any area of law with
expert analysis, 50-state surveys, practice
checklists and forms.
• Access more than a dozen topical and practice
area centers with relevant legal, news, public
records and analytical resources from Lexis®
Transactional Advisor.
1: Inside Counsel, March 2009
2: Altman Weil, November 2008
3: BTI, May 2009
Hurdles
• Tackling specialties not
previously handled.
• Experiencing difficulties in
managing litigation work in
conjunction with outside
counsel.
• Empowering paralegals and
other legal staff to take on
more of the day-to-day,
simple research requests.
5. Strategy: Utilizing More Technology
Why How LexisNexis Can Help
Leverage tools to create efficiencies and reduce
costs
Hurdles
• Currently using a variety of
software or paper-based
systems for tracking
matters, tasks and
expenses.
• Possibly involving IT
department in
implementation.
• Exploring integration
requirements to other back
office systems.
• 37% of law departments
are utilizing more
technology as a cost
control measure.1
• Nearly half of law
departments are keeping
at least some e-discovery
activities in-house. 2
• Collaboration and
knowledge management
tools allow the law
department to be more
efficient and reduce
duplication of work.
• E-billing and matter
management allows law
departments greater
control over spending.
1: Inside Counsel, March 2009
2: Fulbright & Jaworski 2009 Litigation Trends Survey
• Save time and money with a variety of
customizable, printable reports from CaseMap
that showcase your success.
• Simplify discovery management and lower
processing costs and document review time by up
to 80% using Concordance and LAW PreDiscovery
together.
• Get 100% participation in legal spend
management with CounselLink™.
• Research the world’s largest patent collection,
and draft higher quality patent applications much
faster with TotalPatent™ and PatentOptimizer™.
• Manage and evaluate the diversity performance
of outside counsel on an individual or aggregate
firm basis with Lexis® Diversity Insight.
• Transform frequently used documents such as
legal forms, policies, contracts, and proposals into
reusable and compliant templates with HotDocs®.
• Halve the number of steps to perform research
with Lexis® Search Advantage.
6. Strategy: Implementing Fee Arrangements/Convergence
Why How LexisNexis Can Help
Reduce and manage outside counsel spend and
improve collaboration
Hurdles
• Time consuming process of
negotiating with several
firms.
• Lacking criteria for
measurement and
evaluation.
• Could affect long-standing
relationships with outside
counsel partners.
1: Corporate Counsel/LexisNexis CounselLink study, February 2009
2: Hildebrandt
3: Fulbright & Jaworski 2009 Litigation Trends Survey
4: GCR Recession Survey, 2009
• 67.7% of law department
managers feel pressure to
reduce spending on
outside counsel.1
• 54% of companies have
completed, embarked on
or plan to explore
implementation of a
convergence plan.2
• 35% of corporate counsel
say the economic crisis has
led to an increase in the
use of alternative fees.3
• Companies that report
being effective at fixed
fees report having up to
25% lower legal spend.4
• Utilizing the industry-leading legal spend and
matter management platform, CounselLink
accepts bills from all of your law firms – even
those that cannot bill electronically through your
e-billing system – capturing 100% of your data.
• Tap into the widest global online network of
legal professionals at martindale.com®, where
corporate counsel can easily select and manage
outside counsel, access decision support and
professional development tools, and collaborate
with peers – used by 9 of 10 corporate counsel.
• Access the premier online legal network where
corporate counsel and law firm attorneys
connect at Martindale-Hubbell® Connected.
7. Strategy: Increasing Dependence on Support Personnel
Why How LexisNexis Can Help
Get your team up-to-speed with expert content,
personalized training and time-saving tools
Hurdles
• Educating employees to use
new tools and systems.
• Effectively reusing internal
work product.
• No set standards for tasks
and workflow processes.
1: Inside Counsel, March 2009
• Law departments are
utilizing support staff and
paralegals to do additional
types of work to better
leverage their highest
paying resources.
• 84% of law departments
have maintained or
increased their number of
paralegals and support
staff in the last three
years.1
• Access to the most court-cited analytical content:
Matthew Bender® titles are cited by courts 20%
more than competing titles from West®.
• Find over 40,000 forms, both topical and
jurisdictional, many of them fillable to save you
time.
• Use Mealey’s™ reports that summarize regulations
and highlight industry trends for benchmarking
and best practices.
• Schedule one-on-one or group trainings on topics
of your choice, plus access customer support 24/7.
• Get your staff on the same page by turning your
best documents into interactive templates that
produce customized docs for a variety of needs
with HotDocs.
• Find and leverage internal work product and
trusted content from LexisNexis with Lexis Search
Advantage.
• Set alerts tapping the world’s largest collection of
news & business information, public records, court
dockets, practice area specific content and expert
commentary.
8. Cost Savings Solutions for Corporate Counsel –
Next Steps
• Develop cost-effective and sustainable processes
• Leverage tools to create efficiencies and reduce costs
• Manage and reduce outside counsel spend and improve collaboration
• Get your team up to speed with expert content and time-saving tools
How can LexisNexis help you?
Your Dedicated Account Team
• Contact 1
• Contact 2
• Contact 3
Competitive information based on data available as of March 2009.
LexisNexis, the Knowledge Burst logo, Lexis, Martindale-Hubbell, martindale.com are registered
trademarks of Reed Elsevier Properties Inc., used under license. Concordance and CaseMap are
registered trademarks and Mealey’s, TotalPatent, PatentOptimizer and PreDiscovery are
trademarks of LexisNexis, a division of Reed Elsevier Inc. Matthew Bender is a registered
trademark of Matthew Bender Properties Inc. HotDocs is a registered trademark of Matthew
Bender & Company, Inc. CounselLink is a trademark of LexisNexis Examen, Inc. Other products
and services may be trademarks or registered trademarks of their respective companies.
Copyright 2009 LexisNexis, a division of Reed Elsevier Inc. All rights reserved.