"What gets measured gets managed," the late management consultant Peter Drucker reportedly said. But do corporate counsel get the data and reporting they need to effectively manage their litigation and e-discovery costs? A recent survey of chief legal officers suggests not, finding that there is a wide gap between the reporting they need and the reporting they get.
In the 2016 Chief Legal Officer Survey conducted by the management consulting firm Altman Weil, CLOs said that the number-one tactic they can use to control costs is to improve efficiency, and that one of the top ways they can improve efficiency is by leveraging technology to better collect and analyze management metrics.
But how, in practical terms, is that to be done? Here are five steps corporate counsel can take to leverage technology and get the data and analytics they need to manage their legal and e-discovery matters more effectively.