There are missing pieces in the law firm legal department relationship
Law firms are still failing to meet client expectations from fees to technology, according to new research.
Law firms are falling down when it comes to giving better deals on fees, business acumen, free internal support and technology. Whilst 43 per cent of corporate counsel respondents say they have not recieved any better deals on fees, 55 per cent said their firms were not providing them with any more free internal support such as secondments and training. Law firms did not score highly on outsourcing - with 59 per cent of clients saying their law firms did not help them with reducing costs through outsourcing. One head of legal at a global finance company said: "Alternatives to law firms (such as Axiom) are much more active in providing outsourcing options, in completion with large accounting/consulting firms like PwC."
Whilst clients overall report better communication with their law firms suppliers over the last five years - nearly one in three (30 per cent) have not seen an improvement in communications with external advisers. Furthermore, 37 per cent said their external law firms had not spent time trying to understand their clients' needs better. The report also found that 40 per cent of legal department respondents did not see law firms using technology to improve their service.
The survey is a benchmarking report which charts general counsel views on a range of issues relating to their performance. The results will be discussed at the GC Futures Summit on 26 September, London. If you would like to purchase a report or attend the summit, email email@example.com.