ACC Value Challenge

We have all heard about the ACC Value Challenge and much has been done to help in-house counsel close the gap between legal budgets and value received from law firms. Just for starters, the ACC's Web site (www.acc.com) is chock full of checklists, templates and discussion topics for in-house lawyers to use as tools. The ACC has also hosted seminars, Webinars and roundtables to help its members create more values in their legal relationships. The ACC even launched a Value Index rating system to assist in communication among members regarding which firms excel in service and value, and which ones do not.

What About Law Firms?

What about law firms? Where can outside counsel go specifically to build skills and understanding about the very same issues in-house counsel wants them to address? In addition to the resource center that ACC provides on its Web site, a steering committee was formed, consisting of law firm leaders, to provide a new level of sharing between law firms and turn competitive advantage into best practices among our industry. It is a unique instance where competitive firms, large and small, sit on the same side of the table to work in alignment with the ACC Value Challenge on behalf of our legal community.

One of its first accomplishments was a document entitled “51 Practical Ways for Law Firms to Add Value”, which lists ideas for lawyers and law firms in seven categories:

1. Matter Management and Efficiency;
2. Client Service and Value;
3. Understanding of In-House Functions and Needs;
4. Technology and Library;
5. Client Teams, Client Focus;
6. Fee Structures; and
7. Professional Development.

A Sneak Peek

Below is a sneak peek at the document and a few tips:

• Institute a discipline of process mapping and data analysis (such as lean six sigma) to monitor efficiencies in all areas of work, and institute “kaizen” (continuous improvement) programs where internal and external work groups gather and align processes for efficiency and productivity.
• Use extranets, project management tools and other technology to provide a more efficient matter management approach and better client service delivery.
• Educate attorneys and staff on how they can add value at the practice group and individual level, including training, assisting with value-based fee structures, developing technology tools and other client-centric programs. Consider developing a value taskforce to assist with this effort.
• Include client relationship activities, adoption of alternative billing models and support of the firm's client service programs as explicit criteria for partner compensation decisions.
• As part of lateral partner integration, develop an on-boarding process whereby the new client team member can get up to speed quickly on the client ' at no cost to the client. In addition to training on the client's business, include an overview of how the legal department works, preferred communication methods, any special terminology and important departmental protocols.
• For top clients, publish on
  the intranet an internal client analysis/overview of each client's business, issues and goals. Enable the clients to participate on the site using social media tools to give feedback, updates, etc., on their business.
• Commit to clear and transparent fee structures by showing the client what tasks are required at each step in the process of the matter, the timekeeper who will perform those tasks and the allotted time for each.
• Conduct margin-per-hour analysis of services provided by practice, client and rate structure to provide clients with custom project pricing.
• Consider professional development requirements versus billing requirements for first-year associates to provide them with more mentoring that emphasizes the realities of the legal profession and a client service focus.
• Set up an extranet for online training that is available to both the firm and the firm's clients.
• Develop a client dashboard that includes metrics, in addition to a 360-degree view of all matters.
• Install financial system analytics to track efficiencies and client billing cycles over time and make improvements as necessary.

To access the entire document, visit ACC's Resource Center on its Web site.

What Is Next for the Law Firm Committee?

“We are committed to provid[ing] the ACC with tools and practices that support their mission,” stated Kristin Sudholtz, Chief Value Officer at Drinker Biddle, and Chair of the Value Challenge Law Firm Committee. She adds “We are currently working on some RFP suggestions, which support and continue the dialog between firms and their clients.”

Beth Marie Cuzzone is an MLF Editorial Board Member, a member of the Value Challenge Law Firm Committee and Director of Client Service and Business Development at Goulston & Storrs (www.goulstonstorrs.com). She may be reached at 617-574-6525 or [email protected].

We have all heard about the ACC Value Challenge and much has been done to help in-house counsel close the gap between legal budgets and value received from law firms. Just for starters, the ACC's Web site (www.acc.com) is chock full of checklists, templates and discussion topics for in-house lawyers to use as tools. The ACC has also hosted seminars, Webinars and roundtables to help its members create more values in their legal relationships. The ACC even launched a Value Index rating system to assist in communication among members regarding which firms excel in service and value, and which ones do not.

What About Law Firms?

What about law firms? Where can outside counsel go specifically to build skills and understanding about the very same issues in-house counsel wants them to address? In addition to the resource center that ACC provides on its Web site, a steering committee was formed, consisting of law firm leaders, to provide a new level of sharing between law firms and turn competitive advantage into best practices among our industry. It is a unique instance where competitive firms, large and small, sit on the same side of the table to work in alignment with the ACC Value Challenge on behalf of our legal community.

One of its first accomplishments was a document entitled “51 Practical Ways for Law Firms to Add Value”, which lists ideas for lawyers and law firms in seven categories:

1. Matter Management and Efficiency;
2. Client Service and Value;
3. Understanding of In-House Functions and Needs;
4. Technology and Library;
5. Client Teams, Client Focus;
6. Fee Structures; and
7. Professional Development.

A Sneak Peek

Below is a sneak peek at the document and a few tips:

• Institute a discipline of process mapping and data analysis (such as lean six sigma) to monitor efficiencies in all areas of work, and institute “kaizen” (continuous improvement) programs where internal and external work groups gather and align processes for efficiency and productivity.
• Use extranets, project management tools and other technology to provide a more efficient matter management approach and better client service delivery.
• Educate attorneys and staff on how they can add value at the practice group and individual level, including training, assisting with value-based fee structures, developing technology tools and other client-centric programs. Consider developing a value taskforce to assist with this effort.
• Include client relationship activities, adoption of alternative billing models and support of the firm's client service programs as explicit criteria for partner compensation decisions.
• As part of lateral partner integration, develop an on-boarding process whereby the new client team member can get up to speed quickly on the client ' at no cost to the client. In addition to training on the client's business, include an overview of how the legal department works, preferred communication methods, any special terminology and important departmental protocols.
• For top clients, publish on
  the intranet an internal client analysis/overview of each client's business, issues and goals. Enable the clients to participate on the site using social media tools to give feedback, updates, etc., on their business.
• Commit to clear and transparent fee structures by showing the client what tasks are required at each step in the process of the matter, the timekeeper who will perform those tasks and the allotted time for each.
• Conduct margin-per-hour analysis of services provided by practice, client and rate structure to provide clients with custom project pricing.
• Consider professional development requirements versus billing requirements for first-year associates to provide them with more mentoring that emphasizes the realities of the legal profession and a client service focus.
• Set up an extranet for online training that is available to both the firm and the firm's clients.
• Develop a client dashboard that includes metrics, in addition to a 360-degree view of all matters.
• Install financial system analytics to track efficiencies and client billing cycles over time and make improvements as necessary.

To access the entire document, visit ACC's Resource Center on its Web site.

What Is Next for the Law Firm Committee?

“We are committed to provid[ing] the ACC with tools and practices that support their mission,” stated Kristin Sudholtz, Chief Value Officer at Drinker Biddle, and Chair of the Value Challenge Law Firm Committee. She adds “We are currently working on some RFP suggestions, which support and continue the dialog between firms and their clients.”

Beth Marie Cuzzone is an MLF Editorial Board Member, a member of the Value Challenge Law Firm Committee and Director of Client Service and Business Development at Goulston & Storrs (www.goulstonstorrs.com). She may be reached at 617-574-6525 or [email protected].