Client surveys can range from virtually free (online, phone) to low-cost (mail) to different budgets (face-to-face meetings, focus groups). Your budget should be determined by (a) the nature of the practice; (b) the type of client (i.e. consumer, general counsel, potential client); and (c) the purposes of using survey data. Here are some of the key findings from the comparison between current and non-users of legal analysis: About ALM ALM is the most trusted media, information and data services company that supports both the practice and activities of legal, insurance, commercial real estate and financial professionals. ALM delivers quality content, influential audiences, and high-quality data, essential for growing businesses worldwide, to more than 7 million professionals. Please visit alm.com for more information. Texas Lawyer`s annual survey of Texas` largest law firms includes the number of lawyers in Texas offices, managing partners, and the number of attorneys in each branch. Make sure you`re asked to showcase areas and offices that are outside the scope you get, but not outside of what you or your business can offer. In the report of this fourth annual survey, ALM Legal Intelligence continues to track trends in the commercial performance of law firms. Benchmarking information includes budgets, personnel, organizational structure, resources, revenues, and compensation. Identify the right decision-makers, log in now. Access the internal legal contacts you need to grow your business. This Premium Edition provides over 9,000 General Counsel contacts for the Fortune 500.
This year`s survey highlights the main factors and barriers to the adoption of legal analysis, the value that legal analysis brings to litigation practice, and how it is used. More than 400 responses were received from U.S. lawyers from law firms of all sizes. Yes. Chances are that the more investigations a company conducts, the more the approach and results are cookie-cutter. If you`re making big “players” in many markets and industries, you don`t want the same third-party provider coming back for another law firm. As a rule, I run the company; results; and the results of strictly confidential investigations. Many companies sell the idea of making results available through databases and publications. This data, if processed correctly, is one of the most sensitive (and valuable) market research you have. This concentration of their time is another reason why so many members of the LDO function are turning to legal expense management tools. Just over 28% of legal departments surveyed want to update, evaluate or implement this type of technology, in addition to the 17% of respondents who said they already have these tools in their technology stack.
In fact, 74% of corporate legal departments surveyed collect data from their e-invoicing systems. The LDO function can use this information to reduce costs. Another evidence of an outward orientation is that LDO professionals have significant interactions on issues beyond the legal department. When asked how often they contribute to cross-functional goals such as a contract management program that includes both procurement and legal services, 73% of respondents said they work frequently or very frequently, up slightly from 70% in 2020. And more than half of respondents (52.5%) are very often or frequently involved in company-wide strategic initiatives, defined as those outside the legal department. This corresponds to an increase of 44% over the previous year. This article walks you through the process of creating, distributing, and analyzing the results of a customer satisfaction survey. While the discussion focuses on in-house counsel sending a survey to their in-house business clients, the “why” and “how” also apply to the relationship between external and in-house counsel. And outside lawyers can easily use this position to create a satisfaction survey that they can distribute to their in-house lawyer clients.
The results of this year`s survey also highlight some areas where PDL professionals have expanded their sphere of influence. Consider contract management, which is one of the most common processes where legal departments provide support and value to the rest of the business. In the pre-performance phase, in-house counsel reviews contracts, usually for ongoing sales or supply transactions. And once executed, contract management is one of the areas where the firm`s legal department supports ongoing enterprise-wide risk mitigation by understanding contract terms or through key initiatives such as M&A activity. About 57% of respondents said they want to update, evaluate or implement or plan an upgrade, evaluation and implementation of contract technology before and after execution. A single component for the standard in-person customer survey meeting. “Over the past decade, law firms` concerted efforts to improve diversity and inclusion among FTE advocates have led to consistent year-over-year improvements,” said Patrick Fuller, Vice President and General Manager of ALM Intelligence. As data from the Marketing and Business Development Compensation Survey shows, law firms need to focus on pay equity for professionals. It is unacceptable that women have 75% of the bosses or 1. The presidents of large and medium-sized law firms, but earn on average 30% less than their male colleagues. This year`s results show that demanding LDO professionals are no longer expected to add value only within the corporate legal department. Instead, they look outward to create value throughout the company.
They secure their position as key players in the legal department and also play a role in the company`s ecosystem, ensuring that their legal department is not left behind. While the scope of the LDO profession extends beyond the corporate legal department, there is still a lot of work to be done. For example, only 68% of respondents solicit regular feedback from internal customers. Nearly half of the legal departments surveyed (41%) choose to outsource contract management. It is significant that contract management is only lagging behind e-discovery work, which has long been the legal area of companies most closely linked to outsourcing. The data included in the report comes from a survey conducted from February 2022 to April 2022 among marketing and business development professionals about their challenges, satisfaction and compensation. Lex Machina is hosting a webcast on February 17 to discuss the survey results with Karl Harris, CEO of Lex Machina, and Steven Lerner, Senior Reporter at Law360: 2022 Survey – The Impact of Legal Analytics. Lex Machina has received the 2021 Legal Technology Trailblazer Award (National Law Journal, 2021), the 50 Most Admired Companies of the Year (The Silicon Review, 2021) and the Media Excellence Award for Analytics/Big Data (13th Annual Media Excellence Award, 2021). Headquartered in Silicon Valley, Lex Machina is part of LexisNexis, a global leader in legal, regulatory and business information and analysis. For more information, see www.lexmachina.com. This survey, taken from the mid-level partner satisfaction survey, examines satisfaction with technology resources at Am Law law firms. Legal Compass is a comprehensive and intuitive web-based platform that connects law firms and legal departments with decades of unique corporate data and proprietary ALM analytics.