In this podcast, legal industry analyst Ari Kaplan talks with Mark Noel, Catalyst's managing director of Professional Service, about why corporations should expect better reporting from their outside counsel.
They discussed a webinar that Catalyst hosted with Rees Morrison of Altman Weil — Centralize, Simplify, Save – How to Leverage Technology to Decrease Outside Legal Spending—which highlighted the results of Altman Weil's 2016 Chief Legal Officer Survey. When asked how many of their top 10 law firms have provided useful spend analysis to the law department, 73% of CLOs in the survey reported that none of them had. Mark discussed a few reasons for this, and also outlined ways in which analytics and the use of artificial intelligence and machine learning are helping to address the concerns of corporate legal teams.
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