Joe Tiano covers five key topics to cover with your Outside Counsel in 2022. If you are interested in seeing how Legal Decoder can make these conversations easier, request a demo at legaldecoder.com!
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There is no question that Alternative Legal Service Providers (ALSPs) are a formidable presence in today’s legal market. The increase in ALSP engagement is largely due to a change in client expectations. Clients now demand high-quality, technically proficient legal services with transparent, predicable pricing. To meet these demands, both law firms and corporate legal departments have turned to ALSPs to help increase their efficiency and proficiency, while decreasing their overall costs. But is an ALSP always the most economical option? Many law firms say no. Over the past several years, legal technology has evolved to include solutions that allow law firm attorneys to provide the highly specialized services that ALSPs cannot - without sacrificing value or efficiency
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Originally seen as competition, law firms are now reaping the many benefits that Alternative Legal Service Providers (ALSPs) offer. Used for similar operations as with legal departments, ALSPs assist law firms with repetitive tasks to allow them to provide better service to their clients, put a stronger focus on their core work, and increase overall profitability According to a survey conducted by the American Bar Association79 percent of law firms reported engaging ALSPs in 2020.
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In preparation for our upcoming webinar, a conversation has been taking place regarding investment in legal department innovation. The premise is simple: the department’s budget has increased, and the general counsel must decide how to best use the extra cash to foster long-lasting innovation, with the two final options being 1. Invest in AI enabled services; or 2. Invest in an ALSP engagement.
In order to start the buying process to achieve the most meaningful results, it is important for general counsel and legal department operations personnel to first address their workflow bottlenecks and process pain points from the perspective of the business units they work most closely with. Once the department identifies the key workflow deficiencies as stated by their clients, it can start building solutions for those problems.
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