Consilio Brings Together Analytics and Human Review in In-House Cost-Containment Service
In this article, Robin Snasdell discusses our new service External Spend Optimization and its use of analytics tools.
Preview: In-house legal departments are increasingly recognized as the primary drivers of legal technology adoption, but, like law firms, they are often hampered by budgetary constraints. And outside counsel spend can make up a sizable portion of these budgets—upward of 45 percent, according to consulting group Consilio. Consilio’s newly-launched External Spend Optimization (ESO) service takes aim at legal departments’ outside spending. Consilio managing director Robin Snasdell spoke to Legaltech News about the new service and its use of analytics tools: Who it serves: Consilio launched the service as a means to help in-house departments respond to companywide initiatives to curb or scale back spending on outside counsel. “A lot of our clients are faced with similar challenges of reducing spend, reducing overall cost. A lot of them have corporate mandates they have to operate their legal service departments within a certain amount, or reduced a certain amount,” Snasdell said. Consilio’s most recent Law Department Benchmarking Survey found that in-house departments are struggling to contain external spend budgets. HBR Consulting’s recent survey of in-house legal departments told a slightly different story, finding that outside counsel spending is down 2 percent overall since last year, with more in-house departments now opting for alternative fee arrangements.
This article originally appeared on Legaltechnews.com on March 21, 2017.