I just returned from San Francisco where I was fortunate enough to be invited to facilitate a discussion with the Corporate Legal Operations Consortium (CLOC) on legal department metrics. My colleague, Kris Satkunas, Director of Analytics Consulting for CounselLink, and I shared our views on best practices in establishing a corporate legal metrics program.
Elaborating on we’ve learned about best practices, processes and results through partnering with hundreds of corporate legal department clients over the years made for an engaging discussion with the CLOC audience. Although taking advantage of data and analytics is key to better outcomes and more strategic decision making, it’s clear that the questions many legal departments have include — what are the best KPIs for a legal department to measure and how should it go about measuring them?
Over the next few weeks, Kris and I will share highlights of our CLOC presentation as well as results from a revealing survey we conducted with CLOC members. Topics we’ll cover here in the Business of Law Blog will include:
- 7 keys to a successful metrics program
- Common metric pitfalls to avoid
- Recommended KPIs
- Additional metrics you should be measuring but probably aren’t
- Tools to implement a successful metric program
- Creating the right dashboard to meet your objectives
I’m thankful to the CLOC group for inviting me to speak at their meeting and I’m looking forward to sharing the content of the presentation with LexisNexis Business of Law Blog readers. For its part, the rest of the CounselLink team looks forward to continuing to partner with corporate legal departments as they implement processes, legal management systems and analytics to deliver legal services to their companies better, faster and more economically than ever before.
This is a post by Justin Silverman, who serves as Vice President of Product Management for the LexisNexis CounselLink business.