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Video Preview: Latest CounselLink Enterprise Legal Management Trends Report

6 Key Metrics

From the time the first edition was published in October of 2013, the CounselLink Enterprise Legal Management Trends Report was unique in its approach.

Unlike industry studies based on surveys, the data for the Trends Report was derived from a detailed analysis of invoices processed through the CounselLink ELM solution. Instead of drawing its conclusions from what corporate law departments said they were doing or planned to do, its findings have always been based on what they actually did.

The newly-released 2017 report is the latest is what has become a respected and much-anticipated resource for keeping a finger on the pulse of key corporate legal spend metrics

Data You Can Depend On

The fifth and latest Trends Report draws on the largest datastream yet. The processed invoices comprise more than $26 billion in legal spending, almost six million invoices, and  approximately 1.5 million matters, helping to create a detailed historical view of how legal market dynamics are evolving over time.

Among the key metrics the Trends Report tracks are:

  • Blended Hourly Rate for Matters by Practice Area
  • Law Firm Consolidation
  • Alternative Fee Arrangement (AFA) Usage
  • Partner Hourly Rate Growth

Watch this quick video to get highlights on the key metrics, then download the report below to get all the data you need for actionable insights

Putting the Information to Use

As always, the most recent report contains a wealth of information on corporate legal billing practices and legal spend management of interest to General Counsel, legal department operations managers and in-house counsel.

Although the insights into the evolution of legal spend management practices highlighted in the Trends Report are interesting in their own right, the more important issue is how they can be leveraged in measurable, actionable ways to capitalize on opportunities for improvement. By providing concrete examples of what legal departments are currently doing, the Trends Report lays a factual groundwork for data-driven, strategic decision making by legal department leadership and senior management.

Download the full 2017 CounselLink Enterprise Legal Management Trends Report here. Registration is required.

 

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About Chas Schmidt

Chas Schmidt
Chas Schmidt is a freelance copywriter and frequent contributor to the Business of Law Blog. A former Senior Copywriter for the Business and Litigation Software Solutions (BLSS) division of LexisNexis, Chas honed his strategic writing skills in a variety of previous roles on both the corporate and agency sides of the marketing communications fence. He is the former creative head of an ad agency in Durango, Colorado, holds a Master of Fine Arts degree in Creative Writing from North Carolina State University and plans to one day live off the grid in the wilds of Michigan’s Upper Peninsula.
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