Extract from Chuck Kellner’s article “Two Time-Based Metrics That Prove the Value of Legal Dispute Resolution”
In a time of rising scrutiny of both in-house departments’ productivity and outside counsel costs, legal operations professionals can promote the value they deliver with two key performance indicators: time to resolution and time to first insight.
How Legal Ops Can Demonstrate Value to the C-Suite
Speed matters in resolving disputes. Business clients want their disputes cleared “as soon as possible.” Law firm litigators are notoriously time-sensitive and speed-driven. Why?
Time is risk, and time is money. The longer a dispute remains unresolved, the greater the risk to the business, its relationships, and its resources. Studies over many years indicate that the quicker a dispute is resolved, the lower the overall cost of resolution and the higher the degree of satisfaction of all parties.
Many law departments struggle to measure the value of dispute resolution in reporting to the C-suite and the board of directors. One reason is that most business leaders consider disputes and litigation to be a cost center, non-revenue-generating, and “off strategy.”
In a time of rising scrutiny of both in-house departments’ productivity and outside counsel costs, legal operations (legal ops) professionals can promote the value they deliver with two key performance indicators (KPIs): time to resolution and time to first insight.
Tasked by business leaders to deliver top-line benefits, reduce risk, protect corporate reputation, defend against threats, and foster business growth, both in-house and outside counsel can use time to resolution and time to first insight to communicate the value of their work.
