PMIC LPO™ Benefits

  • “Quasi-disaggregation” of legal and business-related tasks Increased Efficiency
  • Greater return on legal spend
  • Reduced Costs
  • Efficient deployment of resources
  • Effective approval protocols
  • Freedom for in-house and merits counsel to focus on technical legal issues rather than logistics
  • Scalable solution
  • Training Tools
  • Predictability
  • Integration of legal and business concerns in Procuring counsel and in ongoing matter management
  • Oversight of all third party vendors

HOW PMIC HELPS ADDRESS THESE CHALLENGES?

PMIC understands that efficient and careful stewardship of budget is essential to success. To help our clients meet the challenges inherent to the dynamic legal procurement environment, PMIC developed a proprietary business protocol called Legal Process Optimization (LPO). At the surface level, LPO is defined as the process by which procurement of legal services is disaggregated into its constituent parts, business services are identified and isolated from pure legal services and merits management, and efficiency and value protocols are applied to procurement of the business components.
By integrating a data-driven business protocol into a matter, LPO ensures clients’ greatest return on their legal spend. Aside from the obvious impact to our client’s bottom lines, this “quasi-disaggregation” of the business aspects of a legal matter also frees in-house and merit counsel from time-consuming non-legal aspects of a matter, allowing them to practice law.

“Guiding senior management to safe ground is a fundamental part of the job. The ability to do so enhances the influence of GC, especially in the area of risk management, where legal officers are playing an increasingly important role. In the remaining sections, we look at the GC’s role in managing risk, starting at the level of the enterprise and then focusing on some of the key obstacles facing companies, including regulatory risk, the management of third parties and contracts, and the resolution of disputes. GC plays an important part in managing all of these challenges”

~ KPMG

THE LEGAL ECOSYSTEM AND ITS CHALLENGES

Legal procurement and management in the United States is like the Wild Wild West. Everything has changed in less than a decade. Industry and the legal field are doing their best to stay ahead of the challenges, but the risks and the frustrations have increased, prices are all over the lot and satisfaction levels are declining, as are the number of students applying to law school every year for five years running.
From every perspective the legal environment is different. Big Law, smaller firms, government agencies and the in-house legal teams at companies across every industry – public or private – are working within a legal business eco-structure that is changing.

Across the public and private sectors, in public, private, large, growing multinational companies, in-house counsel are being asked to do more with less: reduce legal costs without sacrificing the quality of representation. Through procurement initiatives and outsourcing, buyers have been exerting more control over the legal procurement process. Vendors of all types have sprung up as a cottage industry designed to support the technological or logistical needs of the matter. Reduced budgets, increased oversight, aggressive agency enforcement tactics, and a predatory plaintiff’s bar make it harder than ever for in-house counsel to balance their ledgers while fulfilling their fiduciary responsibilities to their companies and shareholders.