Pain of the panel review is just the start

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  • Your analysis reflects the marketplace reality of:
    * poor instruction from clients - which are particularly weak on requirements, timescales and deliverables
    * poor definition / confirmation of what they will do by law firms (often confirmation is limited to a standard letter of engagement which makes no mention of deliverables. A regulatory nicety and not remotely commercial)
    * frankly appalling interim reporting (which tends to be focused on time spent and not on deliverable progress, for example)
    * billing that has no value statement

    Good news is that this is all fixable and much can be learned from other professional services.

    David Ellis, OMC Partners

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  • Our experience is that the current situation is even worse with minimal communication re objective performance measures resulting in fee disputes - which are of course after the event and no one is happy.

    Good news this is all fixable and the solutions are well proven in other professional services.

    The opportunity for in house teams is to get more for less from external providers by being more definitive and managing to deliverables. This will result in lower bills and faster, more relevant service. By doing so, in house teams will also manage the process rather than being driven by procurement only. The procurement profession in large corporations fulfil a useful role in bringing clarity to requirements and price. However, understandably, technical understanding of law is difficult and this is the opportunity area for GC and Procurement to work together to capture value.

    The opportunity for law firms is to guide their clients and differentiate themselves from their competitors with a true service culture.

    What NEITHER side should want is to replicate Stateside practices where in house counsel can be sidelined.

    David Ellis, OMC Partners

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