Part of the rationale behind Consilio’s acquisition of Huron Legal was to expand its involvement in helping corporations understand and measure their external spending on legal services.
It is trite to say that legal departments want to reduce their budgets and to identify the most cost efficient ways of spending their money. Consilio’s External Spend Optimisation solution offers practical strategies to maximise the value of legal spending.
The key to this is benchmarking information which allows comparison between the value of services offered by different providers. Consilio conducts regular surveys aimed at establishing these benchmarks, and offers both experienced staff and its legal spend analytics and benchmarking tool, Sky Analytics, which is designed to bring together all the information about the external costs into a single place.
There is a press release about this here.