Peer to Peer Magazine

June 2011

The quarterly publication of the International Legal Technology Association

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Value in Legal Services by Susan Hackett, Senior Vice President and General Counsel at the Association of Corporate Counsel, on the ACC Value Challenge How Technology Is Driving ustice Potter Stewart issued a famous line in an opinion about pornography: “I know it when I see it.” For many clients and firms who are considering their approach to the value movement in order to retool their practices and service models to focus more attention on value, the definition of value is also difficult to articulate. Most in-house lawyers would regularly suggest that while they have no concrete measures of value, they sure know it when they see efficient results. The sentiment “I know it when I see it” as applied to value is not particularly helpful in driving proactive measures to execute value concepts before the legal service is delivered. This is precisely when the role of technology in the legal service industry enters into the equation. If knowledge management, project management, process management, value-based fee structures, alternative staffing models and other systems are the value precepts of the “new normal,” modern legal service technologies are the underlying mechanism that will help us succeed in applying these concepts to our work and redefining our service model. Value practices for conducting legal work efficiently require us to collect, apply and learn from data — data that is accurate and on point. In addition to providing platforms on which to work on these precepts, technology also enables us to collect and analyze the data so we have key benchmarks, such as: J • How much the work has historically cost; • How much time it takes to do the work; • Which staff are best suited to perform what tasks; • Where the relevant data points can be found to inform the matter; and, most important, • Which strategies based on actual metrics have the highest likelihood of success in the future Value is an “intangible” concept; but, we can drive it by pursuing the tangibles that technology can yield. So, one of our highest priorities if we are to succeed in driving greater client value has to be the aggressive implementation of all kinds of technology solutions to make value concrete, definable, communicable and demonstrable. In the end, and with all due respect to Justice Potter, it is not sufficient to say, “I know value when I see it.” If clients want firms to provide greater value, they have to articulate 62 www.iltanet.org Peer to Peer their specific goals, targets and benchmarks for success. If firms are to succeed in convincing clients that their services are distinguishable from others because they are able to successfully drive and deliver what is valued, they have to be able to prove it and quantify precise results. Working with a client’s matter management system, company dashboard or intranet and offering value-based and alternative fee billing options can be a great starting point for a firm who wants to succeed in the new tech-driven legal marketplace. Whether the economy improves or remains challenging, we in the legal profession have to work harder to demand and deliver services that hit the mark. This successful delivery will depend on our comfort level, knowledge and increased deployment of vital technologies to drive the use of insightful data and better practices in our legal work. ILTA Find ACC “value” resources online www.acc.com/valuechallenge Susan Hackett, Senior Vice President and General Counsel for the Association of Corporate Counsel (ACC), joined the association in 1989 and has held a number of roles and responsibilities over the years. Currently, she is focused on ACC’s advocacy and public policy efforts, ACC’s “Value Challenge” initiative, corporate pro bono and diversity initiatives, the provision of legal services and counseling to ACC and its Board of Directors and Chief Legal Officer outreach, including the development of new strategic resources benefiting general counsel/CLOs and ACC’s increasingly global membership. She can be reached at hackett@acc.com.

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