1. If you don’t know the quality of what you’ve bought, no amount or kind of cost data can tell you if it’s money well spent.
2. The Thomson Reuters’ 2022 Legal Department Operations Index reported that 70% of corporate legal departments track total spending by law firm, and that other cost-control categories comprised 13 of the top 16 data sets on which they focused management attention.
3. But a mere 8% reported quality of legal outcomes among their top 3 focus areas, prompting one legal tech provider to observe: “Only 8% of Legal Teams Care About Quality. Really?”
“In-house teams not interested in quality of legal outcomes? It’s more likely they have no easy way to measure quality.”