Corporate legal operations professionals will highlight the course their companies took to commit to data-based decisions
HARTFORD, Conn., May 7, 2013 – TyMetrix, the global leader in intelligent enterprise legal management solutions for managing the business of law, will be hosting a panel at InsideCounsel’s 13th Annual SuperConference. The panel is titled, “Strategic Roadmap for Integrating Analytics for Improved Law Department Operations” and will take place on Wednesday, May 8th, 2013 from 2:00 p.m. – 3:15 p.m. CDT. The event will be held from May 6-8 at the Fairmont Chicago Millennium Park, 200 North Columbus Drive in Chicago.
Attendees will gain insight into how industry leaders with a depth of experience implementing legal analytics solve legal spend challenges. They will learn how they can identify opportunities to reduce the cost and improve the efficiency of legal services without losing the value that outside counsel provides, which is crucial as companies continually seek to optimize business strategies and develop cost efficiencies. They will also hear how corporate law department leaders are evolving into data-aided decision-making organizations using benchmark analytics on a granular and industry-wide level to improve their competitive positioning in the market. Finally, the panel will show best practices to focus on drivers with specific strategies, embedded in processes and tracked with metrics.
The panel is included in the conference’s Law Department Management track, and will be led by Craig Raeburn, managing director, TyMetrix Legal Analytics. Panel participants include:
- Richard Parker, Deputy General Counsel & Director of Legal Operations, Wolters Kluwer: Using industry benchmarks and data analytics from TyMetrix, Parker and his team were able gain a deeper perspective on their timekeepers, law firms and portfolio of matters. The enhanced outlook enabled Parker to validate savings based on existing practices, further contain costs and improve the price to value ratio of their law firms.
- Karen Dunning, Director of Legal Operations, Motorola Solutions: Dunning leveraged benchmark data from TyMetrix360®, the company’s e-billing and matter management program, and the Real Rate Report™, which analyzes actual invoice data to quantify and explain what is driving the billable hour. With this data, Dunning and her team created a proprietary legal spend tool to improve their ROI from outside counsel spend while preserving favorable matter outcomes.
- Keith Brown Esq., Director Professional Services, TyMetrix: Brown will discuss the next steps that law departments can take to implement an analytics program within their organization. He can specifically point out how UTBMS task codes, geographic information and other data collected enables corporate legal departments to gain new insights into what is driving their legal spend.
“As the leader in legal spend analytics, we’ve seen our in-house clients move towards a deeper understanding of how a well-organized process for integrating legal spend analytics into their law departments creates a business advantage where they can truly see the difference in performance,” said Raeburn. “It’s our privilege to present about these important trends and tips regarding advanced legal spend analytics integration at InsideCounsel’s SuperConference."
Over the past 12 years, InsideCounsel’s SuperConference has been the nation’s leading corporate legal conference, annually attracting over 500 senior-level in-house counsels from Fortune 500 and multi-international companies. It features expert insights from across the legal industry, including top general counsel, leading law firms, government and regulatory leaders, and though-provoking keynote speakers.
TyMetrix will be located at booth #2 at InsideCounsel’s SuperConference this year. For more information on how TyMetrix Legal Analytics combines big data, critical expertise, and intuitive tools to deliver business intelligence and benchmarking solutions for corporate law departments, claims organizations and law firms, go towww.tymetrix.com/products/legal-analytics.
TyMetrix is the global market leader in delivering intelligent solutions that empower corporate legal departments, law firms and claims organizations to manage the business of law. It provides clients with quality legal management software, services and solutions, including spend and matter management, collaboration, performance metrics, and the expertise required to manage risk, reduce costs and gain the insight required to meet their strategic objectives.
TyMetrix Legal Analytics, a complementary business to TyMetrix’s core software offerings, combines unparalleled analytical and legal domain expertise with LegalVIEW® -- the world’s largest permission based contributory data warehouse of legal performance data -- to provide predictive and analytical models, benchmarking and insights to legal departments and all professionals involved in managing the business of law. TyMetrix is part of Wolters Kluwer Corporate Legal Services. For more information, please visit www.tymetrix.com.
About Wolters Kluwer Corporate Legal Services
Wolters Kluwer Corporate Legal Services is the leader in legal process and business performance management. It delivers the people, products and processes to drive transparency, ensure accountability and provide organized, accurate and actionable information for legal, financial and insurance professionals. CLS’s business brands — CT Corporation, NRAI, BizFilings, Corsearch, CT Lien Solutions and TyMetrix — empower organizations to make better business decisions and be more efficient in today’s highly transparent business environment.
Wolters Kluwer Corporate Legal Services is a business of Wolters Kluwer, a market-leading global information services company.