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from D. - Evaluation
Published online by Cambridge University Press: 04 February 2021
The General Counsel of a Fortune 100 company was recently asked if he measured ROI (return on investment) on his legal spend. “No,” he said, “I can’t. I can’t measure quality.”
At various conference panels, several of the largest firms claim they are revamping the way they handle their legal spend to be more in line with other cost centers.1 The rise of “Legal Operations” in corporate legal departments is leading the way in the use of legal metrics.2 These standard business metrics include performance, efficiency, and value. ROI means measuring return, and return requires estimating value. Value can be defined as quality divided by cost. Therefore, measuring quality is key to the modernization of legal departments, as well as their external legal service providers.
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