Cost Cutting and its Impact on the Quality of Legal Advice - How Much can GCs Sacrifice?
LONDON, August 23, 2012 /PRNewswire/ --
IACCM's CEO Tim Cummins recently interviewed David Eveleigh, General Counsel of BT Global Services, to discuss whether the drive for cost cutting and efficiency damages the quality of legal advice that a GC can offer to the business.
In the interview, David and Tim discuss whether or not, in these times of increased cost cutting and drive for greater efficiency, we have sacrificed good judgement in the push for greater speed of decision making. Issues covered include the challenge GCs face with having so many sources of information -- twitter, blogs, instant messenger, texting etc- and the importance of being disciplined with how you use this information.
David discusses solutions such as preparing in advance through much more investment in training, as well as the importance of checklists, so that GCs can easily source a response to a common question. This approach helps legal executives respond more quickly, but still accurately, to these multiple sources of questions.
The interview also explores BT's volume of LPO work. David compares traditional law firms, with their focus on advising the legal team, to LPOs, who have evolved so they can now help various parts of the business. David uses the example of putting a contract together, where the commercial, legal, bid management, contract management and finance teams are all involved, so it is beneficial to have the teams working with common platforms and systems, and LPO providers have recognised this.
As David explains, in the current environment "You have only one choice…which is to work as lean as possible. So we're being very much driven in that environment to show how we're being efficient around our cost, how we're generating revenue."
These are just a few examples of how David's team at BT is working leaner to meet the evolving demands of the business. To hear the full interview podcast, follow this link http://www.bit.ly/Oy7Jzk. If you prefer to get the transcript send to you directly, request it by emailing: firstname.lastname@example.org
These topics and more will be explored in further detail at the 7th Corporate Counsel Exchange, taking place at the Hotels van Oranje, Noordwijk, from 14th - 16th October 2012. 60 General Counsels will gather to benchmark strategies and share best practice to help them become more efficient and add value to their business. They will be joined by a select group of solution providers who have been invited because they offer a service or solution to meet the needs of General Counsel.
About the Legal Exchange Network
The Legal Exchange Network host a series of invitation only forums designed to help senior strategy makers overcome their most pressing challenges that heads of legal face today. Exchange only invites in-house Counsel and legal executives with the highest credentials, and solution providers with the most cutting edge capabilities, to deliver a unique business development opportunity and true peer-to-peer learning and networking forum. http://www.corporatecounselexchange.co.uk/PR
For more information on solution provider opportunities email: email@example.com or call: +44(0)207-368-9404
SOURCE Corporate Counsel Exchange