With respondents evenly distributed across several regions and practice areas, the results of Aderant’s 2021 Law Firm Leader Survey on Outside Counsel Guidelines provide valuable insight into the compliance challenges facing law firms as well as their plans to overcome them.
[Case Study] How Snell & Wilmer Implemented a Complete Technology Ecosystem to Achieve Compliance Both Upstream and Downstreamaderantuser
Does your firm struggle to comply with client billing guidelines? Their complexities affect the entire billing process – starting with time entry, through the monthly billing cycle, and finally culminating with the notoriously arduous eBilling process.
In our latest Legal Business Report, we take a closer look at the entire billing process and how firms can effectively manage OCG both upstream and downstream.
In our latest Legal Business Report, The Journey to Compliance: From Guidelines to Cash we take a closer look at the entire billing process and how firms can effectively manage OCG both upstream and downstream.
The following is an excerpt from the report on the first Annual/Inaugural Law Firm Leader Survey on Outside Counsel Guidelines, first-of-its-kind survey regarding the impact of OCG on law firms.
The next time that you find yourself among legal administrators, try this:
You say, “Billing guidelines.”
Wait for it – you are about to hear a collective groan, that is almost guaranteed, if you are in the company of this fine group of legal professionals.
The reason for this reaction is completely understandable.
After all, billing guidelines, often a subset of the notorious Outside Counsel Guidelines (OCG), have become a pain point for law firms in recent years, due to the increased scrutiny taking place on the client side and the sheer volume of unique guidelines that firms are expected to manage.
If you don’t know the answer to how much revenue is at risk at your firm (or how to get it), you’re not alone. The fact of the matter is, most firms are struggling with compliance issues with Outside Counsel Guidelines (OCG) and the financial fallout due to rejections, reductions, appeals, payment delays, etc.
How would you describe managing OCG at your firm? Overwhelming? Time consuming? Elusive? Frustrating? Fun? Probably not the last one. Managing unique Outside Counsel Guidelines (OCG), specifically, billing guidelines, for several corporate clients is necessary, but also one of the most significant challenges that firms are facing right now. After all, most firms are experiencing
Legal departments have been, and will continue to be, under tremendous budgetary pressure to control legal spend and relentlessly pursue neither over nor underpaying for the value of services it produces or procures. Outside counsel spend, the largest line item on any legal department budget, has been the most volatile budget metric in the post-recession period. Cutting these costs is low hanging fruit.