Motorola Solutions, Inc. has been honored with the inaugural TyMetrix Innovation Award for its forward-thinking Legal Spend Management Model
HARTFORD, Conn. – Oct. 4, 2011 – TyMetrix, the premier provider of Web-based legal performance managementsolutions for corporate law departments, law firms and claims organizations, announced today that Motorola Solutions, Inc. has been honored with the inaugural TyMetrix Innovation Award for its forward-thinking Legal Spend Management Model using the KED Rate Ladder©. The TyMetrix Innovation Award honors companies and law firms that exhibit excellence and market-leading thinking around legal performance management. TyMetrix is a part of Wolters Kluwer Corporate Legal Services.
In 2010, Motorola Solutions, Inc. challenged all departments to streamline their operations, consolidate costs and improve efficiencies. The legal department responded by looking at all the components that result in legal costs. Karen Dunning, senior director of legal operations, and Lauren Trapp, principal program manager of legal operations, led the effort that resulted in the Legal Spend Management Model using the KED Rate Ladder©.
Leveraging the TyMetrix Legal Performance Management Continuum, Dunning and Trapp developed the Motorola Solutions Legal Spend Management Model, which includes five components: Analytics (Know your Data); Benchmark (Compare your World); Dialog (Know your Business); Automate (Digitize for Simplicity); and Architect your Strategy (Improved Results).
The KED Rate Ladder©, developed by Dunning, is a visual tool that depicts actual legal rates from the TyMetrix Real Rate Report™ and legal rates paid by Motorola Solutions, Inc. This visual tool enables quick analytical understanding of rate relationships by mapping the average billable hour rates for associates and partners in any combination of regions across the country and identifies whether to negotiate with existing firms for a better rate or work with firms in lower priced regions.
“After seeing what they have accomplished for Motorola Solutions, Inc. with the Legal Spend Management Model and the development and use of the KED Rate Ladder©, Karen and Lauren were the obvious choice to be selected as the winners of the first TyMetrix Innovation Award,” said John Weber, general manager, TyMetrix. “It’s not uncommon for companies to struggle with the volumes of legal data they have on hand, finding no way to utilize it to the greatest extent. Karen and Lauren saw that data analysis was the answer. We hope that companies across the globe can learn from the example that they have provided.”