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7 KPIs that Challenge Legal Departments

7 KPIs that Challenge Legal Departments

Published on : 22/02/2021 22 February Feb 02 2021
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KPIs or “Key Performance Indicators” have become essential in many areas, including within legal departments. But which KPIs can lawyers no longer do without?


 Those 7 key indicators will help you optimize your performance.
 
Download the checklist
 

1.    Expense Evolution: a KPI helping legal departments control costs 

 
  • Legal departments need to control their budget.
Mapping legal expenditure by highlighting the most expensive items allows for optimization.
 
  • Measuring changes in legal spending.         
Are you still in line with cost control measures you had previously implemented? Have these measures been effective? Comparing changes in external legal expenses provides a good indication of whether your budget is on track.

 

2.    Average Processing Time: an indicator to gain efficiency 

  • One of the most used KPIs.       
One of the most important legal department KPIs is the average time for processing a file or contract. This measure must be performed by considering the nature and complexity of the files being processed.
 
  •  KPIs for better performance.        
Map your interventions and classify them by nature and time spent.  Quickly distinguish between low value-added interventions and those where your added value is critical.

This KPI also assesses the satisfaction of your internal customers, including the often-mistaken perception that your response time is too long.

 

3. Number of Files Processed: a KPI which reflects your productivity 

  • Case volume – quickly identify areas of improvement.
If you have an increasing number of low value files, then think of digitalization!
 
  • Automate recurring tasks, such as generating standard contracts and responding to frequently asked questions. 
     

4. Internal Customer Satisfaction:  measure the quality of your service  

  • Score – a concrete measurement of customer satisfaction.           
Quality is at the heart of any business approach.  Measuring satisfaction provides a clear and readable score of your services.
 
  • Analyze the results of this KPI.         
This analysis is often complex because it involves a combination of factors such as time spent per file, quality of answers, and operational assistance.

 

5. Annual Activity Report: a powerful retrospective tool 

  • Assess important matters.
Evaluate which major matters kept your operational staff busy during the past year, as well as gain insight into future matters.
 
  • Risk factors – identify and intervene.
What types of files have you dealt with most often? Have you identified new risk factors? Have you intervened in your domestic market and/or noticed an increase in international files?  

 

6. Company Risk Levels: an essential preventive KPI 

  • Subjects at risk.
Recognizing subjects at risk and risk levels is imperative to a company’s longevity.
Company exposure is mitigated with tools based on artificial intelligence that provide real risk prevention policies, particularly in contractual or litigation matters.

 

7.  Opportunity Detection: measure your contributions

  • Measure operational impact.
In addition to supporting operational staff, legal departments play a big role in business development.  Reviewing negotiations and contract terms will help detect business opportunities.

 
 Those 7 key indicators will help you optimize your performance.

 
Download the checklist
 
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