To contact us:

Phone: 61 3 92618566

Fax: 61 3 92618599

E-mail: emh@allocatur.com.au

17 Cotham Rd

Kew Victoria Australia

Managing the Legal Spend

 

Legal spend management has been defined as

“Aligning the legal services you need with the services you are getting, and the price you should pay for those services with the price you’re actually paying.”

How you do this depends on where you want to go and what your specific needs are.  The size of your organisation, your legal spend, what your existing practices are, and the nature of your legal requirements will all be relevant to the approach you take.

At one end of the spectrum are billing guidelines and negotiated billing arrangements.  At the other end of the spectrum, are more sophisticated processes such as convergence of your legal panel, benchmarking and tying costs to performance.

Benchmarking can form the basis of a move away from hourly billing and surveys confirm our experience that this is something the majority of in-house counsel and clients want to achieve.