Consilio, a global leader in eDiscovery, document review and legal consulting services announced the launch of its new External Spend Optimization (ESO) solution. This offering combines analysis, recommendations, a prioritized action plan to reduce spend on external legal services and quarterly progress checkups with Consilio’s law department consulting experts.
Consilio’s methodology helps clients reduce legal spend by 10%-15% on average.
As corporate law departments continue to seek budget reductions and identify cost-efficient resources, Consilio’s ESO solution provides actionable insights and strategies to maximize the value these departments receive for their spend. Alongside Consilio’s law department consultants, these insights enable legal operations professionals, general counsel and heads of litigation to better negotiate with outside counsel in a way that does not jeopardize existing relationships.
“Our most recent Law Department Benchmarking Survey tells us that, on average, approximately 45% of a law department’s budget is spent on outside counsel. But corporate law departments traditionally lack the data and benchmarking information they need to understand if they are optimizing these partnerships,” said Robin Snasdell, Managing Director of Law Department Management at Consilio. “Consilio’s External Spend Optimization gives key insights to improve outside counsel management without increasing risk.”
The ESO solution leverages Consilio’s outside counsel management services, including its Sky Analytics software, a legal-spend analytics and benchmarking tool that aggregates a firm’s outside legal spend into an easy-to-understand platform.
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