Navigating Budget Constraints: Reducing Legal Spend in High-Rate Times

It’s not a new story, but the continued increase of law firm rates (up to $2,500/hr for partners at some firms!) amid the typical budget constraints has increased the pressure (to a fiery degree) for many legal departments. 

In just 20 minutes, hear Katherine Shell, Mitratech Advancelaw's VP of Advisory share how we are partnering with in-house teams to reduce budgets, including:

• Assessing current state spend with key law firms
• Building law firm panels to lower costs without sacrificing quality of service
• Analyzing bills for specific specific, cost-saving opportunities
• Developing “legal front doors” and workflows to enable more efficient in-house work
• Connecting in-house teams with cost-effective, high-performing counsel
• Analyzing and reporting spend to identify YOY run rates and savings opportunities
• Learning about how in-house teams are evaluating firms on AI capabilities to increase efficiency and reduce costs