Why Metrics should matter to all business functions, including Legal
The business world is falling in love with dashboarding; the simple and clear display of critical numbers that must be stuck to stay in the game.
Business coaches Verne Harnish of Growthinstitute.com, Greg Brenneman of Continental Airlines turnaround fame and Jack Stack, author of the Great Game of Business, have been proponents of this practice for some time.
The logic is not rocket science. If you can’t measure it easily, you can’t manage it, predict it, or validate it.
As a business consultant, I’ve been surprised by the lack of interest or urgency around capturing and using meaningful metrics by legal teams inside enterprise and government.
Legal’s core business is risk avoidance and yet what seems to be seriously lacking, are simple tools to help assist with predictive metrics.
This need is being illuminated for us by corporate general counsel and time-poor lawyers working for overburdened councils.
There is no simple way for internal legal teams, who are working with external advisers, to achieve a snap-shot of the status and billing for legal matters, without having to engage in protracted communication. It’s also difficult to determine what’s driving need which means that foreseeing trends and patterns is challenging.
A general counsel we’ve encountered recently, told us of her frustration in trying to justify additional head count. The CFO rightly called for metrics to support the spend, yet there was no easy way to compile what was needed.
In-house legal teams need help, which is why we’ve been excited by the capability of LawVu.
Not only is LawVu addressing communication pain points for legal teams, the collection and reporting of powerful metrics is also part of its D.N.A. What we like most of all, is how easy it is to adopt and use.
- Vendor security checklist
- What have legal departments learned from the recent pandemic?
- Empower your legal team to work from home.
- Working remotely in 2020
- Legal Department Metrics
- PwC NewLaw Partner explains why they partnered with LawVu
- A new historical business divide
- Major UI update to the LawVu Platform
- Capital injection cements international growth for legal tech company, LawVu
- PwC collaborates with LawVu to lead legal department transformation