Rid Your Lawyers of Transactional Work - And Make Your Budget Go Further
We’re pleased to share this Impact Podcast featuring an Elevate customer implementing transformative change. In this episode, Elevate Vice President Jake Hills talks with Strategic Resource Operations, Senior Manager GAT Legal Operations at Intel, Andy Krebs. Andy and Jake discuss ground-breaking legal cost savings initiatives at Intel.
‘Everyone is concernedabout offending their law firms by bringing up analytics. Intel has had the complete opposite experience; law firms are grateful for the feedback and thankful that you’re coming to them with helpful information.’ – Andy Krebs
[00:40] Andy describes three changes Intel is making that are having an impact:Aligning legal ops horizontally across the legal department, reducing the number of outside counsel firms utilized and moving to a flexible outsourcing model.
[03:02] The fundamental issue Intel is looking to solve is the unsustainable year over year increases.
[04:21] Data, and senior leadership support, helped drive compliance, including meeting Diversity Initiatives.
[07:02] Intel started this journey with 300 plus outside law firms. Today they use under 140 and Outside Counsel spend is down over 10%. In LPO, they see, on average, almost 60% savings.
‘We see phenomenal talent in this flexible workforce.’ – Andy Krebs
[09:39] Longer-term changes includea retainer model, online technology for bidding on matters, greater examination of cost data, and predictive insights.
[11:49] Intel is making bidding more efficient for firms. Quick, simple, in and out, not 15 rounds of presentations.
[14:45] The negotiation of rates and fee structures is centralized taking that off the attorney’s plate, which is huge in our effort to preserve our lawyer’s relationships.
[18:14] What’s next for Intel? A centralized workspace, a dashboard, workflows for everything, and full support for data collection.