Data-driven conversations are pivotal to successful law firm management and relationships — and for many smart legal departments, it all starts with quarterly business reviews (or QBRs).
That’s why we are launching the Bodhala QBR Program: to simplify the process for those already doing it and jumpstart a critical best-practice activity for those who aren’t.
Using data to make better, more strategic decisions on key management issues, like rate review and panel review, has become table stakes for many corporate legal departments — and the trend is growing. Bodhala’s QBR Program will turn a cumbersome, seemingly never-ending task into a piece of cake, from start to finish.
And the best part? It’s a completely white-glove service. By leveraging our advanced machine learning and AI, coupled with detailed analysis from our team of data scientists and legal industry experts, Bodhala QBRs deliver deep analysis and actionable recommendations, giving you the tools you need to effectively manage your objectives.
So what do you get with Bodhala QBRs? We’re glad you asked.
1. Full Transparency & Trend Spotting
By surfacing critical data and analyzing it across practice areas and firms on a quarterly basis, QBRs unearth important trends across important metrics like partner and associate rates, work allocation, and block billing. Detailed insights provide detailed insights on your law firms’ performance over time, highlighting areas you need to keep an eye on.
2. Actionable Insights & Improved Reporting
Our QBR Program surfaces critical insights and provides you with clear recommendations for how to improve your desired outcome – whether it be negotiating a better rate, improving task-to-talent alignment, and everything in between.
3. ROI Projections
Specific ROI estimates accompany each QBR recommendation. Designed to be easy to execute, with a clear associated value, you have a direct line of sight to the impact of your actions.
You can be confident in the results – and the knowledge that you will be able to manage your budget more strategically.
As pressure for accountability and proactive budget management continues to trickle down from the C-suite, data is no longer a nice-to-have but a need-to-have for corporate legal departments. Regular, data-driven conversations with your key stakeholders and law firms will not only set the foundation for stronger partnerships but will be a catalyst for better results.
The Bodhala QBR Program will give you the tools you need to not only save time, money, and improve your outside counsel management. You will also be completely prepared to “wow” the internal stakeholders demanding visibility into your spend.
So what are you waiting for?
Book a demo with our team of legal experts to get started!