Join us for a recent webinar co-hosted with SimpleLegal, Consilio and Baker McKenzie titled, Market Uncertainty: ROI, Cost Savings and Technology. This webinar was part of Onit’s new Lean into LegalOps online learning initiative.
The presentation began with a quick overview of Onit’s Lean into LegalOps online learning initiative. Amy Good, director of strategic alliances at Onit highlighted the new Business Continuity Apps and emphasized the focus of helping our clients through the current COVID-19 crisis. She then explained the guiding principles of these Apps: they are free, simple and standard.
The conversation then moved to the topic of cost savings and achieving realignment, and how you could do that quickly. Craig Raeburn, vice president of global sales at SimpleLegal, offered some pointers on how to do that. He pointed out that he doesn’t think of “savings” so much as other things, such as ensuring the legal ecosystem stays in place and is operational now and in the future. Craig added that things will get back to normal and recommended keeping it simple in the early days and measuring everything you do.
Robin Snasdell, managing director at Consilio, then offered an overview of the potential savings of using their Sky Analytics solution. Some of the areas where cost savings are greatly realized include shifting work to more cost-effective firms, marginal input attorneys and block billing.
Matt DenOuden, vice president of global sales at Onit, then explained how various approaches fit into the value vs. impact prioritization grid. David Cambria, chief services officer at Baker McKenzie, offered a unique perspective by comparing the financial crisis of 2008 to the current crisis, with a focus on legal operations. He noted that anything in the high risk/high impact area demanded special attention, coupled with external and internal expertise. Robin made the point that departments should make the best use of collaboration tools during this time. Craig further added that just because something worked in 2008 doesn’t mean it will work today and suggested that you should research what systems already exists that you can leverage. David then concluded with a key takeaway — we need to make sure we have the right work going to the right resources.
To learn more about this webinar, watch the recording today.